The timely publication of corporate financial information depends on the time taken to complete the audit. The audit report lag is a particularly critical factor in emerging and newly developed capital markets where the audited financial statements in the annual report are the only reliable...

Several papers have investigated the use of foreign exchange (FX) derivatives but evidence on the use of international cash management methods to hedge FX is scarce. This paper contributes to the existing evidence by considering the use of international cash management systems to hedge foreign...

A popular investment choice for UK investors is unit trusts. This paper examines the impact of derivative use on the risk, performance, and risk management of UK unit trusts between January 1995 and December 1997, extending an earlier US study. Despite the well-documented increased use of...

One of the arguments in favour of the euro is that it will eliminate foreign exchange risk for companies in the euro-zone. There could also be benefits for companies outside this zone, although their currency risk with the euro remains. This paper considers this, by examining the effect of the...

This paper examines mispricing, volatility and parity on the Hang Seng Index (HSI) options and futures market. Most of the previous research has focused on futures contracts; we update this research and extend it by considering also option contracts. It is also important to examine these issues...

The purpose of this study is to assess the effect of relative familiarity and language accessibility on the International Accounting Standards (IASs) disclosures when IASs are first introduced in an emerging capital market. The study focuses on the annual reports of listed non-financial...

Business angels are conventionally defined as high net worth individuals who invest their own money, along with their time and expertise, directly in unquoted companies in which they have no family connection, in the hope of financial gain. The term angel was coined by Broadway insiders in the...

The increase in influential, non-American companies in the hotel industry is discussed. The paper considers whether this was caused a decline of American hegemony of the international hotel industry. Recent trends that have led to a belief in declining American influence are discussed. A case...

Companies increasingly seek solutions to the corporate/local dichotomies perceived to be a feature of more traditional approaches to managing across national boundaries. At the human resource level, the rhetoric of transnationalism emphasizes integration being achieved through 'soft' mechanisms,...

In their interesting and challenging chapter John Adams and Peter Robinson assess the consequences for economic development policy of the devolution measures enacted by the UK Labour government post 1997. Their chapter ranges widely over current UK regional disparities, the link between...