This study investigates whether and how the information values of reported earnings and their components changed around the Asian financial crisis of 1997-1998. Regression analyses on a sample of 10,406 firm-years from nine Asian countries from 1995 to 2000 reveal the following. First, the...

Der Zweitmarkt für geschlossene Fonds verzeichnet wachsende Umsätze und entwickelt sich zu einem festen Bestandteil des Kapitalmarktes. Der Nominalumsatz wird in 2009 erstmals die Grenze von über 1 Mrd. € überschreiten. Um ein Portfolio in optimaler Weise zusammen zu stellen und aktiv zu...

The aim of this empirical study is to describe and provide analysis on the experience of managing capital flows in Iceland and the Baltic countries. During the build-up of the crisis, there were shortcomings in macroeconomic policies and in the policy mix, as well as in financial supervision in...

This paper examines semi-strong form of efficient market hypothesis by taking September 2001 quarter earnings announcement as an event. The study is based on 146 companies having minimum 20 percent foreign holdings. We have used event study methodology, t test, Runs test and sign test to test...

This contribution analyses the impacts of managerial governance on academic work, and more especially on research, comparing German and Austrian universities. First, recent reforms of university governance in the two countries are summarized. Second, the degree of implementation of managerial...