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EFFECT OF AUDITORâ€™S JUDGMENT AND SPECIALIZATION ON THEIR DIFFERENTIAL OPINION BETWEEN SEMIANNUAL AND ANNUAL FINANCIAL REPORTS

Chiang, Hsiang-Tsai; Lin, Shu-Lin - In: Global Journal of Business Research 6 (2012) 4, pp. 1-22

This study examines the factors that lead to issuing negative opinions on semiannual reports while issuing positive opinions in annual reports from the perspective of auditor-client relationships in listed companies in Taiwan. The empirical results show that the importance of the client is...

Persistent link: https://www.econbiz.de/10011205844

Investment, financing and the role of ROA and WACC in value creation

Magni, Carlo Alberto - Dipartimento di Economia "Marco Biagi", Università … - 2015

Evaluating an industrial opportunity often means to engage in financial modelling which results in estimation of a large amount of economic and accounting data, which are then gathered in an economically rational framework: the pro forma financial statements. While the standard net present value...

Persistent link: https://www.econbiz.de/10011188506

The Twilight Zone: OTC Regulatory Regimes and Market Quality

Leuz, Christian; Brüggemann, Ulf; Kaul, Aditya; … - National Bureau of Economic Research (NBER) - 2013

liquidity, price efficiency and crash risk, all of which capture aspects of market quality, differ across OTC venues and firms …

Persistent link: https://www.econbiz.de/10010969441

Valor De Los Ahorros En Impuestos Por Deuda En Colombia: Un Estudio Empírico

Perez, Rafael Yesid Salas; Gutierrez, Juan David; … - MASTER CONSULTORES - 2011

Los ahorros en impuestos por deuda son un tema de obligado interés dentro de la literatura financiera porque desafían el supuesto de que la deuda destruye valor, al demostrar que genera subsidios de impuestos que representan valor para las compañías. Pocos son los estudios empíricos que se...

Persistent link: https://www.econbiz.de/10011031624

The implied cost of capital: A new approach

Hou, Kewei; Dijk, Mathijs A. van; Zhang, Yinglei - In: Journal of Accounting and Economics 53 (2012) 3, pp. 504-526

We use earnings forecasts from a cross-sectional model to proxy for cash flow expectations and estimate the implied cost of capital (ICC) for a large sample of firms over 1968–2008. The earnings forecasts generated by the cross-sectional model are superior to analysts' forecasts in terms of...

Persistent link: https://www.econbiz.de/10010576563

Footnotes Aren't Enough: The Impact of Pension Accounting on Stock Values

Mitchell, Olivia; Coronado, Julia; Sharpe, Steven A.; … - National Bureau of Economic Research (NBER) - 2008

Some research has suggested that companies with defined benefit (DB) pensions are sometimes significantly misvalued by the market. This is because the measures of pension cost and pension net liabilities embedded in financial statements, taken at face value, can provide very misleading picture...

Persistent link: https://www.econbiz.de/10005088948

Corporate Governance, Expected Operating Performance, and Pricing

Fuerst, Oren; Kang, Sok-Hyon - School of Management, Yale University - 1998

We examine whether ownership and governance characteristics are associated with the firm s operating performance and stock price. We hypothesize that while ownership structure and governance mechanisms impact the firm's operating performance, they can also impact stakeholders abilities to...

Persistent link: https://www.econbiz.de/10005178453

Veryfication of the disclosure lemma for Polish broker-dealer market

Staszkiewicz, Piotr W. - Volkswirtschaftliche Fakultät, … - 2012

The paper presents the approach for the verification of the lemma used for the model for reputation risk for … absolute value of the reputation risk greater than the entity’s materiality the reputation risk management system should be in …

Persistent link: https://www.econbiz.de/10011260535

AN OVERVIEW ON STATE OF KNOWLEDGE OF RISK AND RISK MANAGEMENT IN ECONOMICS FIELDS

NICHITA, Mirela - In: SEA - Practical Application of Science (2015) 7, pp. 423-430

The purpose of this paper is to present a history and an evolution of concepts of risk and risk management in economic …, respectively financial fields, highlighting the usefulness (or not) and complexity of tools for risk assessment developed over time …. The main objective of risk management is to reduce costs and increase the value of company and stakeholders gains; also, a …

Persistent link: https://www.econbiz.de/10011268702

The Risk of the Structure: Initial proposal

Staszkiewicz, Piotr W. - Volkswirtschaftliche Fakultät, … - 2010

The article presents the initial proposal for the group risk measurement based on the comparison of two interconnected … sets of webs. The risk scalar has been presented both for each separated subsidiary as well as for the group itself. It was … shown the risk profile of the group could be aggregated into a single value, and some consequences of that attribute was …

Persistent link: https://www.econbiz.de/10009325682