This paper aims to investigate the effect of audit committee ethnicity, as part of the diverse cultures in Malaysia, on analysts' forecast accuracy. In addition, this study investigates further the interactions between the unique cultures in Malaysia and earnings management to determine whether...

The practice of responsible and sustainable investing has led to the incorporation of environmental, social and governance (ESG) information into investment decisions. The role of ESG rating agencies has been to facilitate decision-making by aggregating unstructured ESG information into a single...

In this paper, I examine the value that investors place on analysts who exhibit lower forecast error volatility. Building on prior empirical research, I develop a theoretical model that formalizes the role of error volatility in investment decision-making. I propose an investment strategy that...

Corporate value creation and management are one of the key issues for any business enterprise. A gap exists in research into the implications of the distributed profit taxation ( DPT ) system in Estonia for corporate value creation. Under the Estonian system of corporate taxation, companies need...

This paper describes a simple way to integrate the debt tax shield into an accounting-based valuation model. The market value of equity is determined by forecasting residual operating income, which is calculated by charging operating income for the operating assets at a required return that...

The contribution of the ‘new economy’ to economic growth in developing countries has so far been minimal. Despite the recent hype, the ‘old economy’ will for long be the fundamental force behind economic growth in transition economies. Nonetheless, in the longer run the ‘new economy’...

Labor market performance has differed considerably between OECD countries over the last two decades. The focus of the literature so far has been to ask whether these differences can be explained by varying degrees of labor market rigidities and generosity of welfare states. This paper takes a...

From a macroeconomic perspective the term "new economy" describes a phenomenon of persistent strong and low-inflation growth due to the large diffusion of information and communication technologies (ICT). This paper looks into Europe's position with respect to the new-economy phenomenon. Section...

In dem Heft werden drei Papiere vorgestellt, die im Oktober 2000 auf einem Workshop in Heidelberg vorgetragen wurden. Gefragt wird danach, inwieweit die sog. 'new economy' mit neuen Formen der Arbeitsorganisation verbunden ist. Ziel des Workshops war es, eine theoriegestützte komparative...

The sharp increase in equity prices over the 1990s was widely attributed to permanently higher productivity growth derived from the New Economy. This paper establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions,...