The aim of this paper is to complement the existing literature on horizontal mergers, by setting a Cournot mixed oligopoly model. Specifically, the merger paradox is qualified by proving that a merger could be profitable for the merging firms even if it does not include most market firms....

The objective of this paper is assess the financial performance of disinvested central public sector enterprises (PSEs) in India on the basis of several dimensions on pre and post disinvestment bases over the life span of more than two decades (i.e. 1986-87 to 2009-10); financial performance has...

Taking as a reference a model in which there are a public firm, a national private firm and a foreign private one, it is analyzed both mergers sustainability and their relative effects on welfare. It is proved that the merger between the public firm and either the national or the international...

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 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 paper examines the corporate governance mechanism of the control model (or insider control system) by looking at both the motivation for management to deviate from following their principal's wishes and whether the supervising body, the board of directors would correct them. Some...

Deregulation and progress in information and communication technologies have increased the geographical expansion of banking structures and instruments. This makes banks operationally close to the borrowers. At the same time, banking industry consolidation have induced a geographical...

This study investigates the effects of board characteristics on R&D investment by utilizing a data set of electronics firms listed on the Taiwan Stock Exchange Corporations. The empirical results indicate that R&D investment is negatively associated with board size and positively associated with...