Prior research (e.g Holthausen and Leftwich, 1986) has found that firms’ stock prices react negatively to announcements of downgrades of their bond ratings. Our study examines whether stock prices react negatively to downgrades because the rating agency conveys adverse private information...

This study aims to advance the understanding, in a cross‐cultural context, of the roles that ethical vs. self‐interest considerations play in project continuation decisions. Fifty‐eight executive MBA students from the People’s Republic of China (PRC) completed a project continuation...

This study contributes exploratory evidence on the relationships between corporate culture and company size, competitive environment and corporate performance in the U.S. and Taiwan. The findings indicate that environmental uncertainty – one aspect of industry dynamics – failed to uncover...

This study documents the amount of time it takes for Initial Public Offerings (POs) to make the transition from underperformance to meeting or exceeding the return for firms of similar size. The study looks at yearly holding period lengths of 1 to 10 years. The results of this study show that if...

Initial public offering (IPO) lockup agreements prevent insider sale of shares for specified periods of time (often 180 days). This study investigates share price reactions at and around the time the lockup agreements expire. Results indicate statistically significant negative abnormal returns...

There is a significant body of literature explaining how a free market for kidneys would eliminate both the economic and the medical shortage of kidneys and thus, in addition to supplying sufficient kidneys for those who become needy in the future, remove the entire backlog of 40,000+ patients...

In the aftermath of the Enron scandal, the critics of free enterprise have blamed this system for inflated and out of control executive salaries, particularly those of the chief executive officer (CEO). The present paper defends the marketplace against these charges. In section I we argue that...

Explains how activity‐based costing (ABC) can be applied to hospitals and outlines some previous research on its use and benefits. Reports a survey of US health administrators to establish their view of the cost hierarchy and uses the information in a numerical example based on a radiology...

Outlines various criticisms of the corporate practice of having the same individual as chief executive officer and chairman of the board but recognizes that it may also have some benefits. Uses data from a sample of US firms bidding in takeovers from 1985‐1990 to explore the relationship...