valuation value based management and corporate governance
FM11 Ch 15 Corporate Valuation, Value-Based Management, and Corporate Governance
... Trang 25Value-Based Management (VBM)of the corporate valuation model to all corporate decisions and strategic initiatives. increase Market Value Added (MVA) Trang 26MVA and the Four Value DriversOperating ... Trang 1Corporate Valuation, Value-Based Management, and Corporate Governance Trang 3buildings, machines, inventory. cash flows, discounted at the WACC, is the value of operations ... million Trang 16Market Value Added (MVA)minus total book value of firm of equity + book value of debt + book value of preferred stock = $60 million Trang 17Breakdown of Corporate ValueTrang 18Expansion...
Ngày tải lên: 06/04/2015, 19:41
xie et al - 2003 - earnings management and corporate governance - the role of the board and the audit committee
... Trang 1Earnings management and corporate governance: the role of the board and the audit committeeBiao Xiea, Wallace N Davidson IIIa,*, Peter ... sample selection anddata source discussions We present our results in Section 5 and conclusions in Section 6 2 Earnings management and the role of the Board of Directors 2.1 Earnings management Under ... understatement problem, Perry and Williams (1994) and Wu (1997) (using largersample sizes and more powerful methodologies), do In takeover or merger settings,Easterwood (1997)andErickson and Wang (1999)havefound...
Ngày tải lên: 02/01/2015, 17:34
Earnings management and corporate governance in the UK the role of the board of directors and audit committee
... corporate governance in the UK and reviews the literature on earnings management and corporate governance Chapter 3 develops the hypotheses to be tested Chapter 4 discusses the data sources and ... Schipper (1989) and Healy and Wahlen(1999), the academic definitions of earnings management focus on management discretion over earnings, and thus how to measure unobservable management discretion ... the corporate governance weaknesses of UK firms to the public, and showed the need for more restrictive legislation As a response to the weak governance of UK firms, a series of corporate governance...
Ngày tải lên: 05/10/2015, 19:01
Tài liệu Transparency, Financial Accounting Information, and Corporate Governance ppt
... accounting performance and CEO turnover include Weisbach (1988), Murphy and Zimmerman (1993), Lehn and Makhija (1997), and DeFond and Park (1999), while Blackwell, Brickley, and Weisbach (1994) ... information and the relative governance value of public performance measures Bertrand and Mullainathan (1998) illustrate the potential power of designs that consider interactions across governance ... accounting and provide ideas for future research In this paper, we synthesize major research findings in the accounting governance literature and extend Bushman and Smith to consider corporate...
Ngày tải lên: 17/02/2014, 09:20
incomplete contracts and corporate governance theory and evidence---case studies on chinese banking and u.s. franchising
... of Branding Value on Choice of Governance Structure: Scenario 1 87 Figure 3.2 Effects of Branding Value on Choice of Governance Structure: Scenario 2 88 Figure 3.3 Effects of Branding Value ... Contracts and Corporate Governance: Theory and Evidence Case Studies on Chinese Banking and U.S Franchising by CHEN Shaoling A Thesis Submitted to The Hong Kong University of Science and Technology ... Commerce BID: Branding-inherent Demand SAR: Spatial Autoregressive SMA: Spatial Moving Average Bond: Bond’s Franchise Guide Trang 13Incomplete Contracts and Corporate Governance: Theory and Evidence...
Ngày tải lên: 03/06/2014, 02:02
góis - 2009 - financial reporting quality and corporate governance in portugues
... QUALITY AND CORPORATE GOVERNANCE: THE PORTUGUESE COMPANIES EVIDENCE ABSTRACT The main objective of this paper is to analyze the relationship between the composition and characteristics of corporate ... markedly based on Roman law, less flexible and more closed, is still at a very early stage of understanding The Portuguese state falls within this context and needs to be widely known and understood ... recommendations on corporate governance" specify that the board should be composed of a plurality of members carrying out an effective guidance on the management of the company and its management,...
Ngày tải lên: 02/01/2015, 17:33
[cg-cf] williamson - 2012 - corporare finance and corporate governance
... Wiley and American Finance Association are collaborating with JSTOR to digitize, preserve and extend access to The Journal of Finance. http://www.jstor.org Trang 2Corporate Finance and Corporate Governance ... [55, 56, 58] and by Klein, Crawford, and Alchian [38] The appearance of the "classic capitalist firm" and its financing was explicated by Alchian and Demsetz [12] and Jensen and Meckling ... Trang 1Corporate Finance and Corporate GovernanceAuthor(s): Oliver E Williamson Reviewed work(s): Source: The Journal of Finance, Vol 43, No 3, Papers and Proceedings of the Forty-SeventhAnnual...
Ngày tải lên: 06/01/2015, 19:47
góis - 2006 - financial reporting quality and corporate governance - the portuguese companies
... QUALITY AND CORPORATE GOVERNANCE: THE PORTUGUESE COMPANIES EVIDENCE ABSTRACT The main objective of this paper is to analyze the relationship between the composition and characteristics of corporate ... markedly based on Roman law, less flexible and more closed, is still at a very early stage of understanding The Portuguese state falls within this context and needs to be widely known and understood ... recommendations on corporate governance" specify that the board should be composed of a plurality of members carrying out an effective guidance on the management of the company and its management,...
Ngày tải lên: 06/01/2015, 19:49
Essays on law and corporate governance
... theoretical application of legal theories and models of corporation and corporate governance and provide empirical evidence to the importance of litigation in corporate governance Each essay constitutes ... By bridging legal and management literature, it aims to fill some conceptual and empirical gaps in corporate governance research Chapters 2 and 3 provide alterative models and explanations on ... corroborate, refine and challenge some existing management concepts on corporation and corporate governance This will ensure that the management theories are both normatively and positively relevant...
Ngày tải lên: 12/09/2015, 10:54
Goodwill Impairment Charges Under Sfas 142: Role Of Executives’ Incentives And Corporate Governance
... of standards that expand managerial discretion and highlight the importance of corporate boards in the monitoring of discretion allowed by such standards Trang 5To my mother, Necla Güler, and ... GAAP as the FASB continues to move towards ‘fair value accounting’ and ‘principles-based standards’, these results are potentially of interest to standard setters for at least two reasons First, ... be verifiable and contractible, they, and valuation based on them, are likely to be manipulated.” Agency theory predicts that by using this discretion afforded by the accounting standard, executives...
Ngày tải lên: 10/12/2016, 17:14
Article cultural difference and corporate governance 2008
... Difference and Corporate Governance Michael H Lubetsky* I GEERT HOFSTEDE AND THE MEASUREMENT OF CULTURAL V POLICY IMPLICATIONS: CONVERGENCE AND DEVELOPING The unmet challenge of the corporate governance ... avoidance would bolster demand for equity and thus contribute to the growth of stock markets 52 The values and motivations of a company's management also impact its corporate governance structure ... 2008] CULTURAL DIFFERENCE AND CORPORATE GOVERNANCE J_89 Scholars and other pundits have offered various explanations for the international diversity of corporate governance systems Legal...
Ngày tải lên: 02/03/2017, 21:07
Lecture Business and society - Chapter 5: Strategic Management and Corporate Public Policy
... Trang 2Chapter 5Strategic Management and Corporate Public Policy Trang 3Learning Outcomes1 Describe the concept of corporate public policy and relate it to strategic management. 2 Articulate ... Sustainability Trang 6Corporate Public Policy and Strategic Management Corporate public policy - •Incorporates sustainability as that part of the overall strategic management of the organization that ... processes Trang 16The Strategic Management Trang 17Strategic Management Process and Corporate Public PolicyTrang 18Components of Strategy Formulation Trang 19Strategic Corporate Social Responsibility...
Ngày tải lên: 04/02/2020, 07:47
The Relationship between Corporate Social Responsibility Disclosure and Corporate Governance Characteristics: Evidence from VN100.
... Theme of Corporate Social Responsibility Disclosure and Corporate Governance Characteristics To provide further insights into the link between CSR disclosure and firm corporate governance, corporate ... Total Corporate Social Responsibility Disclosure (Lagged) and Corporate Governance Characteristics: To investigate if there is any relationship between corporate governance characteristics and ... =5.8 p-value = 0.02 Breusch-Godfrey LM for autocorrelation Chi2 (1) =110.95 P-value = 0.02 P-value = 0.00 Breusch and Pagan LM for random effects Chibar2(01) = 240.13 P-value = 0.00 P-value =...
Ngày tải lên: 01/09/2020, 13:49
Voluntary Disclosures and Corporate Governance Characteristics: Evidence from Vietnam
... duality, and type of auditors were found to have no significant associations In recent years, corporate governance practice has attracted more and more attention Vietnam has jointed ASEAN corporate governance ... Disclosure and Its Sub-Categories Figure 9 Mean Voluntary Disclosure and Its Categories (Note: VDI stands for voluntary disclosure index; CSI stands for corporate strategy information; FCMI stands ... Nanopoulos (2009), poor corporate governance was blame for most world crises In this thesis, it focuses on transparency and disclosure aspect, one of five pillars of good corporate governance Companies...
Ngày tải lên: 01/09/2020, 16:12
Exploring the role of good leadership and corporate governance practices in improving institutional investment to listed companies in vietnam stock market
... leadership and corporate governance 21 1.2.1 Leadership 21 1.2.2 Corporate Governance 24 1.3 Why good leadership and corporate governance practices can help companies in general and Vietnamese ... Committee and the Code of Corporate Governance (Singapore), 2001 wrote about corporate governance: “Corporate governance refers to the processes and structure by which the business and affairs of the ... leadership and corporate governance matters to the institutional investment It explored the relationship between good corporate leadership-governance practices, corporate performance and the improvement...
Ngày tải lên: 22/09/2020, 21:28
Exploring the role of good leadership and corporate governance practices in improving institutional investment to listed companies in vietnam stock market
... overview of leadership and corporate governance 1.2.1 Leadership 1.2.2 Corporate Governance 1.3 Why good leadership and corporate governance practices can help companies in general and vietnamese listed ... Committee and the Code of Corporate Governance (Singapore), 2001 wrote about corporate governance: “Corporate governance refers to the processes and structure by which the business and affairs ... Principles of Corporate Governance, which had key influence on the development of corporate governance globally In the latest version “OECD Principles of Corporate Governance” - 2004, corporate governance...
Ngày tải lên: 17/03/2021, 17:21
Value based management economic value added or cash value added
... GöteborgSweden STUDY NO 1997:3 VALUE BASED MANAGEMENT: Economic Value Added or Cash Value Added? byFredrik Weissenrieder Trang 2VALUE BASED MANAGEMENT:Economic Value Added or Cash Value Added? by Fredrik ... Trang 3VALUE BASED MANAGEMENT:Economic Value Added or Cash Value Added? In my opinion, there are four major frameworks within Value Based Management; Economic ValueAdded (EVA®1), Cash Value Added ... ECONOMICS 971214 VALUE BASED MANAGEMENT: Economic Value Added or Cash Value Added? by Fredrik Weissenrieder Department of EconomicsGothenburg University andConsultant within Value Based Management...
Ngày tải lên: 21/01/2022, 17:58
Democratization and Corporate Governance in Korea One Step Forward, Two Steps Back
... of Korea’s corporate governance landscape.1 A prominent transformation involved the role of the state in corporate governance From a domineering force in monitoring and supervising corporates ... establish regulatory discipline <Graph 3> Corporate Audits Trang 9V Corporate Governance and Corruption The effects of democratization upon corporate governance can be gleaned from another angle ... counter-intuitively the state of corporate governance initially declined with democratization Shedding the authoritarian state demanded effective internal and external protections and monitoring mechanisms...
Ngày tải lên: 18/10/2022, 22:34
Voluntary disclosures and corporate governance characteristics evidence from vietnam
... dc o r p o r a t e governance.Companiesprovetheirtransparencybydisclosingasmuchinformationaspossiblethroughmandatoryandvoluntarydisclosure.Mandatorydisclosureistocomplywithlawsandregulations,thereforeallcompanieshaveto ... VietnamCorporateGovernanceRegulations“Listedcompany”isdefinedascompanywhosesharesarelistedononestockexchange.Listedcompanies a r e regulatedbyLawonEnterprise2005(withtherevisionon2014),andCorporateGovernanceCode2007(withtheamendmentson2012)issuedbyMinistryofFinance ... relatedtothelevelofvoluntarydisclosureoflistedfirmsinHongKong.AsignificantassociationbetweensomecorporategovernancevariablesandvoluntarydisclosureofS w e d i s h companieswasfoundby(Cooke,1989).Itisfoundthatboardcompositionandtheextentofvoluntarydisclosureofinformationinannualreports...
Ngày tải lên: 23/10/2022, 11:16
The relationship between corporate social responsibility disclosure and corporate governance characteristics evidence from VN100
... thusintroducedthelinkbetweencorporategovernanceandthecorporatesocialresponsibilitypractice(Driver&Thompson,2002;Michelon&Parbonetti,2012).Third,legitimacytheory(Suchman,1995)expandsthefunctionofcorporategovernancebyaddingmored ... 2thebestknowledgeoftheauthors,thereexistednoextensivestudiesonCSRreportingandthegovernancestructureoflistedfirmsonVietnamstockmarket.Prior studiesi nVietnam(e.g.,Vu,2012)mainlyfocusedoninstitutional, firm orindividual Trang 3ea n d corporategovernance understandtheextenttowhichfirmsdisclosureCSRandtherelationshipbetweenCSRdisclosureandfirmgovernancestructure,ourpaperhopestoaddressthegapintheliterature.Particularly,ourpaperaimstoexaminethefollowingr ... gpracticeisabletolowertheriskthatlaborquarrels,productsafetydisgrace,andfraudscanaffectthefirm’performanceandreputation(Waddock&Graves,1997) 2.1 Relationshipb e t w e e n theCorporateSocialResponsibilityandt h e CorporateGo vernanceC...
Ngày tải lên: 23/10/2022, 11:30