This paper checks for validity of the residual income model of Ohlson (1995) for the companies listed on the Stock Exchange of Thailand between 1992 and 2015. In particular, we test whether there is long-run relationship between market value, book value and residual incomes. Using standard...

Studies on corporate social responsibility (CSR) across the world mainly focus on the impact of CSR on a firm’s financial performance. However, there are hardly enough empirical evidences on the firm’s financial determinants of CSR expenditure. Therefore working with panel data from...

In this study, I provide a refinement to the accrual anomaly with a new measure of earnings reversal for a given level of accruals. This new measure is the predicted earnings reversal based on the firm specific cointegration relation between earnings and cash flows implied by the accounting...

This paper examines whether the implementation of the Australian equivalent of International Financial Reporting Standards (A-IFRS) makes Australia more attractive to foreign capital inflows. To establish this, endogenous structural break techniques and the ARDL approach are applied on capital...

Summary The rise of the East-German economy in the 1950s and 1960s and its decline in the 1970s and 1980s is difficult to explain by neoclassical economics. However; the observed life cycle may be explained by the inclusion of concepts from old and new institutional economics and from functional...