We propose two tests for the equality of covariance matrices between two high-dimensional populations. One test is on the whole variance-covariance matrices, and the other is on offdiagonal sub-matrices which define the covariance between two non-overlapping segments of the high-dimensional...

This paper compares two different types of private retirement plans from the perspective of a representative beneficiary: a defined benefit (DB) and a defined contribution (DC) plan. While salary risk is the main common risk factor in DB and DC pension plans, one of the key differences is that...

This study examines the relationship between ownership structure and performance of public firms in Mexico, considering debt and the structure of the board of directors as contextual and institutional factors. This research seeks to explain the mixed results about the relationship of ownership...

The main purpose of this paper is to explore the issue of enterprise's transfer pricing which has been noticed by tax administrations of many nations in recent years. The academia has also striven to develop models for interpreting transfer pricing and assessing transfer pricing profit of...

Based upon the resource-based view and national culture perspectives, this paper investigates the two-way relationship between R&D investment and company performance. We propose that company performance and R&D investment have mutual effects, and the magnitude of these mutual effects varies with...

This paper proposes a new method of fund rating based on the cross-sectional distribution of fund performance measured by alpha. This distribution-based fund rating model is more flexible and provides more interesting results than current commercial fund rating method used by Morningstar. Unlike...

The main purpose of this paper is to investigate the impact of the 2007 financial tsunami on the Taiwanese financial market. We find that, although significant for banks, security firms, and insurance companies, the effect was relatively lower if compared with that in Europe and the United...

The main purpose of this paper is to examine two commonly used alternatives to traditional repricing (TR) of executive stock options (ESOs) in a dynamic agency model. TR practices have become obsolete since new accounting rules took effect in July 2000. To avoid associated variable accounting...