1. Introduction Power industry deregulation and electricity market restructuring, which began in Chile in the 1980s and then spread to Norway, New Zealand and the UK, were introduced in the United States with the passage of the Energy Policy Act (EPA) of 1992 (Jameson, 1997). The EPA and...

This study explained the diversity of corporate financial practices in two nations. Existing studies have emphasized the reliance on equity finance in U.S. firms and bank loans in Japanese firms. In fact, patterns of corporate finance were much more complex. Financial institutions, which were...

This first chapter develops an economic model of the firm linking current financial and non-financial measures to future earnings for retail banks. The data support the associations among current financial and non-financial measures predicted by model, suggesting that the economic model is...

This paper argues the recent proposals expressed by the Australian Accounting Standard Board in Exposure Draft 151 contradicts the historical trend of standard setters attempting to achieve the objective of financial reporting, that is, the provision of decision-useful information for users of...

This thesis examines the relationship between real flexibility and financial structure using detailed economic and financial data on firms in 17 manufacturing industries. I investigate the impact of real flexibility on firms' finance capacity, namely, their ability to obtain debt, borrow...

The focus of this research is on management's communication of uncertainty (attested to by auditors) and the potential for miscommunication due to the communication mode used in accounting disclosures. The following two research questions are addressed: First, do users of financial statements...