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Purpose – The purpose of this paper is to examine the relationship between capital expenditures and corporate earnings … for 357 manufacturing firms listed on the Taiwan Stock Exchange over the sample period 1992‐2002. Design … grouped into eight portfolios ranked by capital investment ratio estimated from the investment period. Corporate earnings in …
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Purpose – The purpose of this paper is to examine empirically the financing hypothesis of Lang et al. for asset sales in the context of corporate real estate transactions. Design/methodology/approach – Exploiting the concept that monitoring can reduce agency problem of managerial discretion,...
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This study uses factor analysis to simplify the complex relationships among stock markets and to reduce the number of markets required for portfolio construction. Our sample consists of the US and 11 Asia-Pacific stock markets. We find that the reduced portfolio obtained from factor analysis has...
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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 results showed that independent directors can improve the quality of earnings …
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