This study investigated companies publicly listed in Taiwan from 2002 to 2010 to examine whether independent directors improve the quality of earnings and analyzed whether the control rights of a controlling shareholder mitigate the impact of independent directors on earnings quality. Empirical...

Decline in confidence in free market mechanisms in the past decade has provoked an increase in interest in regulatory issues. This paper seeks to answer one question: Are exchange listing rules an effective screening mechanism? Using a sample of IPO firms listing on major U.S. exchanges in...

The article presents conclusions drawn from the analysis of regulations concerning the issue of the content of business valuation engagement letter. The analysis covered regulations appearing in eight business valuation standards used in Australia, New Zealand, Hong Kong, Canada and the USA....

This paper presents the extensive literature survey based both on theoretical rationales for hedging as well as the empirical evidence that support the implications of the theory regarding the arguments for the corporate risk management relevance and its influence on the company's value. The...

This paper examines the reaction of the Athens Stock Exchange (ASE) to dividend announcements by a sample of firms listed at the FTSE/ATHEX 20 and FTSE/ATHEX Mid 40 for a fixed period 2004-2008. It also provides analytical information about the Greek Stock Market and the regulations underlying...

This paper analyses financial performance of companies considered as highly socially responsible. For this purpose, companies that compose the Spanish sustainability index FTSE4Good IBEX (as well as other IBEX indices) are examined. Two basic results can be highlighted: first, stocks of...

This paper aims to analyse the Basque Country companies' view about the financial valuation of intangibles relevance and its influence on business performance. To achieve this objective, a field study has been done with 440 telephone calls to Basque Country companies' financial managers. Then,...

Here we describe the origins, evolution and classification of stakeholders. It highlights the relationship created between the credit institution as a social organization and its various stakeholders, analyzing the importance attached to them. The field work was conducted through a questionnaire...

This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...