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Mängel bei der Abschlußprüfung: Tatsachenberichte und Analysen aus betriebswirtschaftlicher Sicht
Wüstemann, Jens - 2001
The purpose of this paper is to analyse the role of auditors and the legal standards of auditing in the German system of corporate governance in the light of recent crises of large quoted companies. The arguments are developed from an economic-analysis-of-law perspective. Some of the conclusions...
Persistent link: https://www.econbiz.de/10005844566
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Performance Measurement, Value-Creation and Managerial Compensation: The Missing Link
Schultze, Wolfgang; Weiler, Andreas - Universität <Augsburg> / Lehrstuhl für … - 2008
The discussion on value-based performance measures is centered around the concept of residualincome. The main property of residual income is its connection to capital budgeting and the net-present-value-rule. This property is, however, not sufficient to guarantee strong goal congruencebetween...
Persistent link: https://www.econbiz.de/10005858501
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Are stewardship and valuation usefulness compatible or alternative objectives of financial accounting?
Gassen, Joachim - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2008
In their joint framework project, the FASB and the IASB recently proposeddropping stewardship as a separate objective of financial accounting, because the Boards view stewardship and valuation usefulness as compatible sub-objectives ranking under an overall objective of decision usefulness. This...
Persistent link: https://www.econbiz.de/10005860567
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The Impact of Managerial Ownership, Monitoring and Accounting Standard Choice on Accrual Mispricing
Gegenfurtner, Bernhard; Ampenberger, Markus; Kaserer, … - Center for Entrepreneurial and Financial Studies <München> - 2009
We analyse to what extent the accrual anomaly is related to the choice of the accounting system as well as firm-level heterogeneity in corporate governance mechanisms. Using a unique dataset of listed German firms over the period 1995 to 2005 we first corroborate former results indicating that...
Persistent link: https://www.econbiz.de/10005870302
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Executive compensation and the susceptibilityof firms to hostile takeovers - An empirical investigation of the U.S. oil industry
Haid, Michael H.; Nowak, Eric - 1999
takeover imposed by the market for corporate control. We complement other empirical studies on managerial compensation and … consists of 51 firms in the U.S. oil industry from 1977 to 1994. Third, we employ ex ante measures of the threat of takeover at … the individual firm level which are superior to ex post measures like actual takeover occurrence or past incidence of …
Persistent link: https://www.econbiz.de/10005840368
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The Determinants of Takeovers: Recent Evidence from U.S. Thrifts
Cebenoyan, Fatma; Cebenoyan, A. Sinan; Cooperman, … - 2002
market liberalization and widespread takeover activity, 1994 to 2000.(...) …
Persistent link: https://www.econbiz.de/10005846646
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Financing and Takeovers
Morellec, Erwan; Zhdanov, Alexei - Institut für Schweizerisches Bankwesen <Zürich> - 2006
This paper analyzes the interaction between financial leverage and takeover activity. We develop a dynamic model of …, and takeover terms, in which the bidder with the lowest leverage wins the takeover contest. Based on the resulting … bidder is below the industry average and that acquirers should lever up after the takeover consummation. The model also …
Persistent link: https://www.econbiz.de/10005858240
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The role of technology in M&As : a firm-level comparison of cross-border and domestic deals
Frey, Rainer; Hussinger, Katrin - Zentrum für Europäische Wirtschaftsforschung <Mannheim> - 2006
Technological change is often hypothesized as one of the main drivers of mergeractivities. This paper analyzes the role of technology in mergers and acquisitions(M&As) at the firm level. Based on a newly created data set that combines financialinformation and patent data for public limited...
Persistent link: https://www.econbiz.de/10008939765
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Pensions- und Finanzsysteme in Europa: Ein Vergleich unter dem Gesichtspunkt der Komplementarität
Tyrell, Marcel; Schmidt, Reinhard H. - 2001
Die Debatte über die optimale Ausgestaltung der Alterssicherung wird in jüngster Zeit äußerst kontrovers und hitzig geführt. Dabei scheint uns ein zentraler Aspekt nicht genügend beachte zu werden: Welcher Zusammenhang besteht zwischen den Merkmalen des Finanzsystems und des...
Persistent link: https://www.econbiz.de/10005840287
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Angleichung der Unternehmensverfassung in Europa - ein Forschungsprogramm
Schmidt, Reinhard H.; Grohs, Stefanie - Universität <Frankfurt, Main> / Fachbereich … - 1999
This paper discusses whether, in which respects, and to what extent the corporate governancesystems of Germany, the United Kingdom and France have already converged in the course ofEuropean economic integration, or are likely to converge in the foreseeable future. Wepresent, and attempt to...
Persistent link: https://www.econbiz.de/10005840358