Processes of transition to democracy and country break up stand out as ideal experiments to estimate the impact of wide institutional reform on well-being. Changes in population heights are regarded as virtuous pointers of well-being improvements in psycho-social environments, which improve with...

Advance pricing agreements (APAs) determine transfer prices for intra-firm transactions in advance. This paper interprets these contracts as a means to overcome a hold-up problem that occurs because governments cannot commit to non-excessive future tax rates. In addition, with private...

This study was developed based on the theory of cultural relevance of accounting proposed by Baydoun and Willet [4] from the contributions originally released by Gray [16], which highlights the link between the accounting values and the practices that are materialized in the form, content and...

Under semi-strong market efficiency future returns are unpredictable from previously released information. We test the degree of semi-strong form market efficiency in the credit default swap (CDS) market by examining the relationship between subsequent CDS returns and previously announced...

Since the adoption of International Financial Reporting Standard (IFRS) and the subsequent directive by the EU, all companies are required to report their consolidated financial statements in line with the IFRS prescribed formats. The study examines the consolidated financial statements of top...

This paper studies how firms manage liquidity around seasoned equity offerings and the impact of such behaviour on long run performance. We identify a pre-issue ‘debt trap' scenario where issuers raise equity to escape from the debt trap problem. We find some evidence that issuers with a debt...

This study proposes a comprehensive model which empirically investigates the antecedent, mediating and outcome variables of budgetary participation. We propose that the information asymmetry between superiors and subordinates creates the need for budgetary participation. Accordingly, this study...

This report updates and expands earlier studies to look at the profitability of $349.7 billion of buybacks executed from 2000 through early 2010 by a sample of 275 corporations. The sample companies, drawn mainly from the technology sector, enjoy total equity market value today of $945.6...

This paper examines the prospect of revitalizing asset-backed and non-agency mortgage-backed securitization markets rendered nearly dormant in the wake of the 2008 financial crisis. First, it briefly summarizes the background of the debacle and presents historical parallels for context. Then the...

The size of the equity risk premium remains an unanswered question in the accounting and finance literature. This study proposes a new approach to reverse-engineer the equity risk premium, distinct from prior research, in that it does not rely on analysts' forecasts to proxy for the market's...