During the recent Southeast Asian financial crisis, numerous banks failed quickly and unexpectedly. This study uses a unique data set provided by Bank Indonesia to examine the changing financial soundness of Indonesian banks during this crisis. Bank Indonesia's non-public CAMEL ratings data...

Announcements of syndication loans increase borrowers' shareholder wealth if they are revolving credit agreements but not if they are term loans. Share price responses to revolving credit announcements are positive and significant, whereas the wealth effect for term loans is negative and...

Closed-end fund (CEF) discounts vary widely over time due to changes in share price, net asset value (NAV), or both. Prior studies suggest discounts are mean-reverting. We examine the mean-reversion issue by employing cointegration procedures. Specifically, we identify bond and equity CEFs that...

Purpose: The purpose of this paper is to examine the effects of self-efficacy, goal orientation and task complexity on audit judgement performance in correctly linking audit procedures to audit objectives and types of misstatements. Design/methodology/approach: The authors conducted an...