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Corporate governance and impression management in annual press releases

Osma, Beatriz García; Saorín, Encarna Guillamón - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2009

We study the association between corporate governance and impression management in annual results press releases (ARPRs). Press releases constitute a timely vehicle to communicate firm performance to third parties. However, oftentimes, managers provide self-serving disclosures that attempt to...

Persistent link: https://www.econbiz.de/10005731173

Un análisis de la oferta de acciones en las OPAs españolas

Aguilar, Inés Pérez-Soba; Juez, Pedro Durá - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2012

In this paper we focus on, for the period 1995-2007, the analysis of the variables that can affect thebehavior of target company shareholders in a takeover bid and how legislation can influence the sellingdecisions of the agents involved.For this analysis we review the theoretical and empirical...

Persistent link: https://www.econbiz.de/10010585956

THE INFLUENCE OF GENDER ON SPANISH BOARDS OF DIRECTORS: AN EMPIRICAL ANALYSIS

Vera, Antonio Mínguez; Campbell, Kevin - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2007

Many studies have examined the impact of various characteristics of the board of directors on firm value. However, little attention has been paid to the impact of female board membership on firm value, with the exception of a number of U.S. studies. The aim of this paper is to investigate this...

Persistent link: https://www.econbiz.de/10005731179

Strategic accounting choice around firm level labour negotiations

Sabater, Ana María; Mora, Araceli; Osma, Beatriz García - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2010

We study accounting choice around firm-level collective agreement negotiations. Prior literature argues that managers … make income-decreasing accounting choices to limit the concessions made to trade unions. However, empirical research to … than accounting actions to minimize payments. In particular, we find evidence consistent with (i) managerial strategic …

Persistent link: https://www.econbiz.de/10008678228

SUBJETIVIDAD DE LOS AJUSTES POR DEVENGO Y VALORACIÓN DE SU CALIDAD EN EL MERCADO DE DEUDA: EVIDENCIA EMPIRICA PARA EMPRESAS NO COTIZADAS

Albornoz, Belén Gill de; Muñoz, Manuel Illueca - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2006

This paper examines the effect of accruals subjectivity on the way investors use the information contained in accruals to set the interest rates charged in debt contracts. To measure the degree of subjectivity involved in the estimation of accruals we use several indicators of their ex ante...

Persistent link: https://www.econbiz.de/10005515811

EL GOBIERNO CORPORATIVO Y LAS PRACTICAS DE EARNINGS MANAGEMENT: EVIDENCIA EMPIRICA EN ESPAÑA

Albornoz, Belén Gill de; Osma, Beatriz García - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2005

independent experts are inefficient in reducing accounting manipulation in our sample, except when they are designated by …

Persistent link: https://www.econbiz.de/10005515822

ALISAMIENTO DE BENEFICIOS vs. RENTABILIDAD BURSÁTIL: EVIDENCIA EMPÍRICA

Poveda, Francisco; Iñiguez, Raúl - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2001

artificially smooth earnings and it¿s possible to reduce the stock¿s systematic risk manipulating accounting profits. El presente …

Persistent link: https://www.econbiz.de/10005515876

EARNINGS MANAGEMENT AS AN EXPLANATION OF THE EQUITY ISSUE PUZZLE

Pastor, María Jesús; Poveda, Francisco - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2005

The poor stock price performance of firms that raise capital through seasoned equity offerings is one of the recent puzzles in financial literature. In this study we investigate whether pre-issue earnings management can explain these results for rights issues in Spain. Consistent with this...

Persistent link: https://www.econbiz.de/10005515940

NUEVO ENFOQUE EN LA ESTIMACIÓN DE LOS AJUSTES POR DEVENGO ANORMALES: UN MODELO DESAGREGADO

Poveda, Francisco - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2003

A fundamental question about the analysis of financial information is the potential manipulations that could be introduced by insiders in the information that is revealed to investors. In this context, this article is focused on the analysis of abnormal accruals as a potential instrument to...

Persistent link: https://www.econbiz.de/10005212545

A NEW MARKETING SEGMENTATION APPROACH BASED ON MARGINAL INDIVIDUAL UTILITIES: APPLYING CRM IS NOT A CHIMERA ANYMORE

Más, Francisco J.; Nicolau, Juan Luis - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2006

In the advent of Customer Relationship Management, a more accurate profile of the consumer is needed. The objective of this paper is to show the usefulness of knowing consumer¿s complete utility function through his/her marginal utilities. This approach allows one to form groups of individuals...

Persistent link: https://www.econbiz.de/10005212546