We investigate the U.S. stock market's reactions to companies' restatements before and after SOX during a period from 1997 to 2005. This paper is motivated by the inconsistency between the targeted goal of SOX to improve financial reporting quality (proxied by the occurrence of restatements) and...

This study adopts Ohlson's (1995) valuation model and Dechow et al.'s (1999) framework to examine the value relevance of intellectual capital (IC) disclosed by Taiwan's information technology (IT) companies. Following prior studies, we focus on four IC components: human, innovation, process, and...

This paper tests two competing hypotheses describing investors' behavior: the efficient market hypothesis and the functional fixation hypothesis. In particular, this study examines how Taiwan's stock market interprets the nature of corporate income tax after the 1998 Tax Reform, which switches...

Paid search is an important form of online advertisement. Clickthroughs from slots are bid for by advertisers. The process of formulating bids is a complex one involving bidders in competing against other advertisers in multiple auctions. It would be helpful in managing the bidding process if it...