The problem is author cannot isolate IPO incentives for earnings management (Hughes, 1986, Clarkson et al., 1992; Teoh, Welch, and Wong, 1998a, b; Heron and Lie, 2004; Ball and Shivakumar's, 2008) because managers do manage earnings upwards before IPO and later downward after IPO. If managers avoid...

Financial statement information is useful for investors to predict the future investment returns, in turn the fact that capital markets corresponds with such financial information, accordingly (Merton, 1987). Regardless of the current good news or bad news of a company extracted from financial...

Corporate governance can be old cliché as internal and external types. Internal corporate governance is the mechanism by which firms' governing managers align their activities with stakeholder interests through the composition of the board, audit committees, and compensation committees as well...

Corporate governance can be old cliché as internal and external types. Internal corporate governance is the mechanism by which firms' governing managers align their activities with stakeholder interests through the composition of the board, audit committees, and compensation committees as well...

This paper uses a case study approach to analyze how three corporations; namely, Hutchison Whampoa Limited (HWL), Hutchison Telecommunication International Limited (HTIL), and Hutchison Telecommunication Hong Kong Holdings, likely managed earnings through a series of consolidations. The author...

The main purpose of this paper is to investigate (1) the relationship between the corporate governance and capital asset pricing model. The first topic is mainly aimed at finding whether corporate governance with the average stock returns under controlling three factors of ICAPM still exist....