This paper studies the corporate internationalization decision of family firms and the effect of family ownership on internationalization. Using a panel data set of manufacturing firms listed on the Taiwan Stock Exchange during 2000–2007, the empirical results indicate that...

Malaysia like many other Asian countries was affected by the 1997 Financial Crisis. During this Financial Crisis, many companies succumbed. Pomerleano (1998) found that leverage of the companies if unchecked can be detrimental to the health of the company. He concluded that excess leverage at...

Working capital does not receive a great deal of attention in financial decision making. Perhaps this is because it involves investment and financing for the short term. Nevertheless, it is an important component of firm financial management. This study investigates the relationship between...

This study examines the factors that lead to issuing negative opinions on semiannual reports while issuing positive opinions in annual reports from the perspective of auditor-client relationships in listed companies in Taiwan. The empirical results show that the importance of the client is...

In this paper, we compare the financial characteristics of Hong Kong and Singapore manufacturing firms with the MANOVA (Multivariate Analysis of Variance) technique. Our findings indicate that the liquidity, accounts receivable turnover, inventory turnover, total assets turnover, and equity...

Ownership structure is one of the key determinants constituting internal corporate governance, which is especially crucial in emerging markets. This study explores the effects of insider shareholding, an obvious characteristic of ownership structure, on corporate governance. The empirical...

This article modifies the intertemporal optimization model proposed by Bo and Sterken (2002) by considering firm debt composition to derive a more suitable physical investment function and evaluates how twin-rate(i.e., interest rate and exchange rate) uncertainty, derived from the issuance of...

This paper examines the market responses to four cash payout methods: regular dividend increases, special dividends, tender-offer repurchases and open market repurchases. We also investigate the reasons why firms choose one payout form over another. We use relative, and discounted relative,...

Using a sample of Taiwan firms over the period of 2001 to 2005, this study investigates the relationship between internationalization and a firm’s capital structure, measured by the leverage ratio. Univariate tests show that multinational corporations (MNCs) are significantly less...

The recent evidence has shown that IPO uncertainty continues in aftermarket until a normal market is established. Evidence also indicates that aftermarket risk measured by stock’s beta is related to the degree of underpricing in the US market. This may imply that additional underpricing...