This study examines whether a regulation on mandatory disclosure of financial forecasts since June 1991 and further sanction imposition since March 1998 contribute to lower IPO firms’ initial and aftermarket returns, and shorten honeymoon periods. The study is based on 423 IPO firms after the...

This study examines whether the Taiwanese regulation requiring disclosure of earnings forecasts in the IPOs resulted in disclosure of more optimistic earnings forecasts and whether the forecast error was reduced more by manipulating the reported earnings rather than revising the earnings...

Innovation capital are typically expensed and/or unrecognized as assets under current generally accepted accounting principles. This results in accounting-related information asymmetry. This paper examines the association of innovation capital (as measured here by the proxies of R&D expenditures...

Purpose – The purpose of this paper is to investigate the impact of corporate internationalization, governance structures, and legal protections on the foreign earnings response coefficient (FERC). The FERC is a measure of the value-relevance of foreign earnings. Design/methodology/approach...

Purpose: The purpose of this paper is to examine the association among operational risk incidents, corporate governance, credit risk and firm performance. Design/methodology/approach: First, the authors regress corporate credit risk on the incurrence of operating losses (driven by operational...

Purpose – This paper aims to focus on helping managers understand a factor that stimulates investment in R&D, namely, the R&D tax credit. Design/methodology/approach – The paper uses a sample of firms in Taiwan; the study period is 1999‐2004. Four variables are used to categorize firms in...

This study investigates the effect of directors' and officers' (hereafter D&O) liability insurance coverage on auditor choice. Based on a sample of 671 Taiwanese listed firms with D&O legal liability insurance data, our evidence shows that companies with excess D&O liability insurance coverage...