Our paper provides evidence regarding the use of share repurchases as an earnings management mechanism in the presence of debt-financing constraints as well as the impact of these constraints on the use of accruals and other real earnings management techniques. We document that share repurchases...

By using a farm’s data in Yantai City and the theory of Cost-Volume-Profit analysis and the financial management methods, this paper construct a multi-factor analysis model for improving profit management using Excel 2007 in Shellfish farming projects and describes the procedures to...

This paper examines the effect of a firm's crash-risk exposure on its speed of leverage adjustment (SOA), and how this effect is influenced by the information environment of the country in which the firm is located. We employ a panel of 19,247 firms across 41 countries from 1989 to 2013, and we...

We investigate the optimal investment timing strategy in a real option framework. Depending on the state of the economy, whose changes are modeled by a Markov chain, the investment cost can take one of two values. The optimal investment timing decision is determined by finding the free boundary...

Guangzhou buyers' preference for premium Hawaiian grown product gift baskets with conjoint analysis was examined. Relative importance of three gift basket attributes: container type, products origin, and price were examined. Expenditure equivalent index to evaluate how much more each of the gift...

We examine the impact of the 2003 dividend tax cut, which removes the differential taxation between dividends and capital gains for individual investors, on the ex–dividend day price and trading volume. We find the ex–dividend day price and volume are affected by taxes, risk, and transaction...

Using a broad-based sample of small businesses, we analyze the relation between accounting-based firm performance measures and executive compensation for S-corporations, and C-corporations. After controlling for the potential endogeneity associated with the choice of organizational form, we find...