The objective of this study is to provide evidence on how technological innovation conditions underlying the firm's investments drive earnings growth and, hence, market value of equity. Technologies develop and flourish or die out through the combined investment decisions of those firms doing...

This paper examines the question of how analysts forecast earnings. We examine the determinants of analysts? forecasts of both short and long run earnings. The paper is motivated by the importance of analyst forecasts as proxies for expected earnings, which is accompanied by a large literature...

The traditional categorisation of expenditures evident in many firms' charts of accounts and financial statements does not identify and measure expenditures on intangible investment separately from tangible investment and operating expenditures. This contrasts with the accounting for tangible...

This paper evaluates what we have learned about the relevance and reliability of financial and non-financial information on intangibles from the value-relevance literature. Because value-relevance studies do not easily allow judgments about the reliability of information on intangibles, and this...

This paper addresses the question of whether independent directors of the bidding firm are effective monitors during acquisitions and whether this effectiveness is impaired when the independent directors serve on multiple boards. The choice of the acquisition setting, where the board of...

This study examines the association between board composition andvoluntary disclosure in annual reports. In particular, it addresses the incentives withinthe agency theory framework for both inside and independent directors to disclosureadditional information voluntarily. Further, it provides...

The relation between stock-based compensation and market values has been tested previously in the literature, but the empirical findings are inconsistent; as both negative and positive relations have been documented. The objective of this study is to provide an explanation for why both negative...

This study investigates the relation between firm characteristics and board composition in Australia for a sample of the same 432 listed firms in 2001 and 2007 and the impact of the Principles of Good Corporate Governance and Best Practice issued by the Australian Stock Exchange in 2003. Two...

This paper investigates firm characteristics associated with the choice of individual versus group compensation schemes for senior executives below the CEO level. We define individual compensation schemes where senior executives are compensated independently from other senior executives, where...

The relation between acquisitions and takeover premiums has been extensively documented in the academic literature to date, but these studies have focused on settings whereby the takeover or merger is initiated by a market place competitor. Few studies have extensively focused on private equity...