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Essays On Corporate Transparency And Governance Practices
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Book Synopsis Essays on Corporate Transparency and Governance Practices by : Artyom A. Durnev
Download or read book Essays on Corporate Transparency and Governance Practices written by Artyom A. Durnev and published by . This book was released on 2003 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Corporate Governance and Asset Pricing by : Wei Lin
Download or read book Essays on Corporate Governance and Asset Pricing written by Wei Lin and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three articles striding topics from corporate governance to asset pricing. It seeks to understand the costs and benefits of better corporate governance, and how assets such as real estate are priced. My ultimate focus is on corporate governance on both sides of the equations - as causes and effects, which culminates in my third article investigating the causality of legal revisions on investors through independent directors. My apparent detour in the second piece results from that my finance background has lectured me on the importance of how asset prices are determined. Through this detour, I have recognized that I should rather combine the topics of intrigue into my topics of pursuit. Hence my blending of my learnings from the first two articles into my final piece of this dissertation. Article 1, Corporate Transparency and Bond Liquidity, investigates how firm accounting transparency affects the liquidity of bonds issued by such firms. The dataset consists of firm- and bond- level data for US listed firms across multiple years. We find a positive relationship between firm transparency and bond liquidity, which becomes stronger in times of financial distress. Further, we find a negative relationship between firm transparency and liquidity risk. Economically speaking, bond liquidity is less (more) information-sensitive when the probability of default is lower (higher). Article 2, Pricing the Location of Commercial Properties, proposes a pricing framework for cash flow datasets, using US commercial properties as a case. We adapt the netpresent- value-approach of Korteweg and Nagel (2016) from a performance-evaluation context to a pricing context. As an example to test this proposed framework, We use the hedonic regression models of Clapp- Giaccotto (1998) to generate commercial real estate specific location risk factors. Our results show that a one-factor stock market model works rather well for commercial property pricing in comparison to multi-factor models including the factors of Fama and French (1996) and a physical-distancebased location risk factor. Article 3, Does Investor Protection Laws Benefit Investors? Evidence from a Natural Experiment on Cross-Listed Firms, studies the causal effects of investor protection laws on investors from a governance and financial perspective. I exploit a natural experimental setting where firms cross-listed on both China's mainland and Hong Kong are subject to the legal revisions. First, I find that more independent directors turn over amongst the cross-listed firms. Second, my results show that the directors appointed to succeed the resigned directors tend to be younger and include more female. The above combined, I argue that my findings suggest that firms have taken the opportunity to appoint directors more befitting to the new environment, hence increased board turnover might be conducive to the firm in the long run. Third, I find no evidence of significant changes in board independence in the short run. Combined with increased director turnovers, my findings reconcile the arguments advanced by the finance and the strategy literature on the effects of strengthened institutions in that strengthened shareholder-friendly corporate governance at the firm level and symbolic adoption of certain governance practices could take place jointly.
Book Synopsis Essays on Information Transparency and Corporate Governance by :
Download or read book Essays on Information Transparency and Corporate Governance written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Corporate Governance by : Yan Luo
Download or read book Essays on Corporate Governance written by Yan Luo and published by . This book was released on 2013 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis I investigate the economic determinants and consequences of corporate governance (broadly defined) in Canadian "comply or explain" governance disclosure regime. I find that the quality of governance in firms varies in the cross-section and is associated with firm value as economic theory suggests. Furthermore, I find the effectiveness of board and audit committee has a strong impact on the auditor-client management relationship in their negotiation over financial reporting. Such relationships then influence financial reporting quality and audit fees. Overall, my results support that the theorized advantages of "comply or explain" allow firms greater flexibility in tailoring their governance practice to their specific circumstances. Such tailored governance practice is more efficient and cost-effective and serves the interests of shareholders by 1) improving firm value; 2) constraining managerial opportunism; and 3) improving audit quality without incurring higher audit fees.
Book Synopsis Essays on Corporate Governance by : Radhakrishnan Gopalan
Download or read book Essays on Corporate Governance written by Radhakrishnan Gopalan and published by . This book was released on 2006 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Corporate Governance and Financial Reporting Quality by : Martin Mutschmann
Download or read book Essays on Corporate Governance and Financial Reporting Quality written by Martin Mutschmann and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Corporate Governance by : Rüdiger Fahlenbrach
Download or read book Essays on Corporate Governance written by Rüdiger Fahlenbrach and published by . This book was released on 2005 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Corporate Governance by : Ofer Eldar
Download or read book Essays in Corporate Governance written by Ofer Eldar and published by . This book was released on 2016 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Two Essays on Corporate Policy and Corporate Governance by : Taemin Cha
Download or read book Two Essays on Corporate Policy and Corporate Governance written by Taemin Cha and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Corporate Governance by : Yihui Pan
Download or read book Essays on Corporate Governance written by Yihui Pan and published by . This book was released on 2011 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in Corporate Governance by : Adam Yore
Download or read book Three Essays in Corporate Governance written by Adam Yore and published by . This book was released on 2009 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Disclosure and Corporate Governance by : Ramanan Natarajan
Download or read book Essays on Disclosure and Corporate Governance written by Ramanan Natarajan and published by . This book was released on 2007 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation expands on the existing disclosure theory by considering the monitoring role of a firm's disclosure as well as recognizing how a firm's disclosure is influenced by the firm's monitoring mechanisms. The first chapter of the dissertation examines the effect of corporate governance on a firm's earnings reporting process. I develop a model that high-lights the trade-offs and interdependencies between the audit function and the governance quality of the firm. This allows me to explain many seemingly surprising empirical findings in the area of corporate governance and provide several new testable predictions. The second Chapter addresses an important issue of how a firm's disclosure policy is influenced by information transfers across multiple markets that it accesses. The model captures the monitoring role of disclosures and addresses the issue of how a firm's disclosure policy may influence its governance choices and further, analyzes the interaction between different monitoring instruments, namely, disclosures, institutional investors and other internal corporate governance mechanisms.
Book Synopsis Essays in Corporate Governance by : Umit Kaya
Download or read book Essays in Corporate Governance written by Umit Kaya and published by . This book was released on 2004 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Corporate Governance by : Stanley Peterburgsky
Download or read book Essays in Corporate Governance written by Stanley Peterburgsky and published by . This book was released on 2007 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Corporate Governance and Finance by : Silvia Ceccacci
Download or read book Essays on Corporate Governance and Finance written by Silvia Ceccacci and published by . This book was released on 2005 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Corporate Governance by : Wen-Hsiu Julia Chou
Download or read book Essays on Corporate Governance written by Wen-Hsiu Julia Chou and published by . This book was released on 2008 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Accountable Corporation: Corporate governance by : Marc J. Epstein
Download or read book The Accountable Corporation: Corporate governance written by Marc J. Epstein and published by Greenwood. This book was released on 2006 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of essays on the role of business in society. This book provides provocative analysis, cultural and historical context, and solutions from the public, private, and non-profit sectors toward more responsible, ethical, and accountable business. It features articles by the world's leading scholars, executives, and practitioners.