Download or read book International Cross listing Firm Performance and Top Management Turnover written by Ugur Lel and published by . This book was released on 2006 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Firm Performance Governance Structure and Top Management Turnover in a Transitional Economy written by Michael Firth and published by . This book was released on 2005 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent research has argued that political and regulatory environments have a significant impact on corporate governance systems. In particular, countries with poor investor protection laws and weak law enforcement have low levels of corporate governance that manifests itself in substandard financial performance, management entrenchment, and the expropriation of minority shareholders. One implication of this research is that China will have poor corporate governance and entrenched managers, as its legal system is relatively underdeveloped and inefficient. However, using data on top management turnover in China's listed firms, our results refute the prediction of entrenched management. We find evidence of very high turnover of company chairmen and there are many cases that we interpret to be forced departures. Our results show that chairman turnover is related to a firm's profitability but not to its stock returns. Turnover-performance sensitivity is higher if legal entities are major shareholders but the proportion of non-executive directors perversely affects it. We find no evidence that profitability improves after a change in chairman and this suggests that a firm's governance structure is ineffective as it is unable to recruit suitable replacements that can turn around its financial performance.

Download or read book International Cross Listing of Chinese Firms written by Liu, Lixian and published by IGI Global. This book was released on 2014-01-31 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: While many nations are still struggling from the global financial crisis and regaining their financial security, investors are considering alternative options for investing their money; and the secure financial sector is China appears as a viable option. International Cross-Listing of Chinese Firms examines the successful techniques and strategies that Chinese companies are using within their financial practices. It highlights the foreign-based multinational enterprise theories related to the major international stock markets. By providing the latest theories and research, this book will be beneficial for business practitioners, researchers, and managers interested in the relationship between cross-listing and firm valuation of Chinese firms.

Download or read book Individual and Organizational Factors Surrounding Top Executive Turnover written by Stephanie Brecht-Bergen and published by Logos Verlag Berlin GmbH. This book was released on 2018 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author analyzes the multi-faceted phenomenon of top executive turnover from various theoretical angles and empirically shows how individual and organizational factors such as performance, compensation and gender relate to it. Managerial implications on how to deal with turnover in times of talent shortage are derived. The book contributes to turnover research in three distinct ways. From a corporate governance perspective, it inspects potential antecedents and consequences of top executive dismissal with a focus on firm performance consequences. Taking a labor economics view, it scrutinizes compensation structure as a likely antecedent of voluntary turnover. From an OB and HRM angle, it examines gender as a characteristic of top executives and possible antecedent of turnover.

Download or read book International Finance written by H. Kent Baker and published by Oxford University Press. This book was released on 2013-01-17 with total page 701 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the current state of affairs and tools available in the study of international finance is increasingly important as few areas in finance can be divorced completely from international issues. International Finance reflects the new diversity of interest in international finance by bringing together a set of chapters that summarizes and synthesizes developments to date in the many and varied areas that are now viewed as having international content. The book attempts to differentiate between what is known, what is believed, and what is still being debated about international finance. The survey nature of this book involves tradeoffs that inevitably had to be made in the process given the vast footprint that constitutes international finance. No single book can cover everything. This book, however, tries to maintain a balance between the micro and macro aspects of international finance. Although each chapter is self-contained, the chapters form a logical whole that follows a logical sequence. The book is organized into five broad categories of interest: (1) exchange rates and risk management, (2) international financial markets and institutions, (3) international investing, (4) international financial management, and (5) special topics. The chapters cover market integration, financial crisis, and the links between financial markets and development in some detail as they relate to these areas. In each instance, the contributors to this book discuss developments in the field to date and explain the importance of each area to finance as a field of study. Consequently, the strategic focus of the book is both broad and narrow, depending on the reader's needs. The entire book provides a broad picture of the current state of international finance, but a reader with more focused interests will find individual chapters illuminating on specific topics.

Download or read book Regional Financial Integration in Africa Cross listings as a Form of Regional Financial Integration written by Moses Wisdom Chisadza and published by Anchor Academic Publishing (aap_verlag). This book was released on 2014-02 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at contemporary issues facing financial markets in Southern Africa. It has been established that African stock markets are confronted with a multitude of problems which include inadequate liquidity, low capitalisation, few market participants, a small number of listed companies and low trading volumes. As a result, their broader economic impact has so far been limited. The Southern Africa Development Community (‘SADC’) stock markets, with the exception of South Africa, are small both in terms of the number of listed companies and market capitalisation, and they display considerable illiquidity. In general, the SADC region has shallow and underdeveloped financial markets. Their development has been hampered by a number of factors which include; political and economic uncertainty, fiscal dominance, weak judicial institutions, limited investment opportunities in the private sector, technological constraints, and the shortage of skilled personnel with expertise in banking and finance.

Download or read book Research Handbook on Boards of Directors written by Jonas Gabrielsson and published by Edward Elgar Publishing. This book was released on 2019 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Boards of directors are complex systems, and it is imperative to understand what the contextual forces are that shape the direction and make-up of boards. This Research Handbook provides inspiration for researchers and practitioners interested in the manifold dimensions and facets of context surrounding boards of directors.

Download or read book Reconceptualising Global Finance and its Regulation written by Ross P. Buckley and published by Cambridge University Press. This book was released on 2016-03-11 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taking stock of the 2008 global financial crisis, this book provides 'outside the box' solutions for reforming international financial regulation.

Download or read book Effects of Cross listing on Valuation and Firm Performance MBA Thesis a Ccompanied by a CD ROM written by and published by . This book was released on 2014 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main objective of this study was to examine the effects of regional cross-listing on firm value and performance on Kenyan firms. The specific research objectives for this study were: (i) to determine the effect of cross-listing on valuation; (ii) to determine the effect of cross-listing on profitability and growth; (iii) to determine the effect of cross-listing on liquidity and leverage and; (iv) to determine the effect of cross-listing on operational performance. The scope of the study focused on 5 cross-listed firms whose primary listing is the NSE. Thus, conducting a census the study analyzed data from firms? financial statements and the NSE daily market averages and analyzed the firms? value, profitability and growth, liquidity and leverage and, operational performance to examine the differences prior and subsequent to listing. The study conducted a time series analysis, taking into consideration the independence of the variables are concerned with a time series data set, thus sought to examine the evolution of the variables over time using data spanning seven years i.e. three years before cross-listing, the year of cross-listing and three years after cross-listing. The study further subjected the results to a univariate analysis in order to examine the significance of the findings using the paired t-test for the firms Tobin?s Q, liquidity and leverage, profitability and growth and operational performance. Additionally, the findings were also subjected to a correlation analysis to measure the degree of relationship between the variables under study. The results on firm value show that on average the firm value decreased after cross-listing but the results had no statistically significant difference from before and after cross-listing. Tobin?s Q and profitability had a strong correlation indicating that the change in firm value has a strong effect to the changes in the firm profitability. The results from the study on Liquidity and Leverage, using a before and after comparison from the paired t-test revealed that on average the liquidity of the firm increased while as leverage decreased. Additionally, the study also revealed that leverage and liquidity had a moderately negative correlation. Depending on the firm, profitability and growth varied and thus there was no consistent trend evident in the study. However, a before and after comparison of the variables yielded that despite the increase in profitability and growth of the firms, the results had no significant difference. The time series analysis yielded that operational performance of majority of the cross-listed firms? motive by market incentive to cross-list, increased. Jubilee Insurance was the only firm that reported an increase after cross-listing. A before and after comparison yielded that there was a decrease in operational performance but there was no statistical significant difference in the results. Additionally, liquidity and total assets had a weak positive correlation indicating that the changes in leverage does not weakly/does not correlate with the changes in total assets. The study recommends that for firms to sustain their improved firm value and financial performance post-listing, firms should not only comply with the new regulations that they have willingly subjected themselves to but, to take the extra mile to improve corporate governance, improve information disclosure exceeding the bare minimum and creating more value for shareholders.

Download or read book Handbook of the Economics of Finance written by George M. Constantinides and published by Newnes. This book was released on 2013-02-08 with total page 859 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 11 articles in this first of two parts, top scholars summarize and analyze recent scholarship in corporate finance. Covering subjects from corporate taxes to behavioral corporate finance and econometric issues, their articles reveal how specializations resonate with each other and indicate likely directions for future research. By including both established and emerging topics, Volume 2 will have the same long shelf life and high citations that characterize Volume 1 (2003). Presents coherent summaries of major finance fields, marking important advances and revisions Describes the best corporate finance research created about the 2008 financial crises Exposes readers to a wide range of subjects described and analyzed by the best scholars

Download or read book Handbook of Finance and Development written by Thorsten Beck and published by Edward Elgar Publishing. This book was released on 2018-07-27 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides a comprehensive overview of the relationship between financial and real sector development. The different chapters, written by leading contributors in the field, survey research on the importance of financial development for economic growth, the causes and consequences of financial fragility, the historic development of financial systems in several major economies and regions of the world, and the regulatory and supervisory underpinnings of financial sector development.

Download or read book The Oxford Handbook of Corporate Law and Governance written by Jeffrey N. Gordon and published by Oxford University Press. This book was released on 2018-04-26 with total page 900 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate law and corporate governance have been at the forefront of regulatory activities across the world for several decades now, and are subject to increasing public attention following the Global Financial Crisis of 2008. The Oxford Handbook of Corporate Law and Governance provides the global framework necessary to understand the aims and methods of legal research in this field. Written by leading scholars from around the world, the Handbook contains a rich variety of chapters that provide a comparative and functional overview of corporate governance. It opens with the central theoretical approaches and methodologies in corporate law scholarship in Part I, before examining core substantive topics in corporate law, including shareholder rights, takeovers and restructuring, and minority rights in Part II. Part III focuses on new challenges in the field, including conflicts between Western and Asian corporate governance environments, the rise of foreign ownership, and emerging markets. Enforcement issues are covered in Part IV, and Part V takes a broader approach, examining those areas of law and finance that are interwoven with corporate governance, including insolvency, taxation, and securities law as well as financial regulation. The Handbook is a comprehensive, interdisciplinary resource placing corporate law and governance in its wider context, and is essential reading for scholars, practitioners, and policymakers in the field.

Download or read book Handbook of the Economics of Finance SET Volumes 2A 2B written by George M. Constantinides and published by Newnes. This book was released on 2013-01-21 with total page 1732 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume set of 23 articles authoritatively describes recent scholarship in corporate finance and asset pricing. Volume 1 concentrates on corporate finance, encompassing topics such as financial innovation and securitization, dynamic security design, and family firms. Volume 2 focuses on asset pricing with articles on market liquidity, credit derivatives, and asset pricing theory, among others. Both volumes present scholarship about the 2008 financial crisis in contexts that highlight both continuity and divergence in research. For those who seek insightful perspectives and important details, they demonstrate how corporate finance studies have interpreted recent events and incorporated their lessons. Covers core and newly-developing fields Explains how the 2008 financial crises affected theoretical and empirical research Exposes readers to a wide range of subjects described and analyzed by the best scholars

Download or read book Handbook On Emerging Issues In Corporate Governance written by Alireza Tourani-rad and published by World Scientific. This book was released on 2010-11-11 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book highlights emerging topics in key areas of corporate governance with special emphasis on traditionally unexplored issues. It also aims to stimulate thinking and debate on vital aspects of practice and approaches to corporate governance. The topics covered in this book deal with timely subjects, written by eminent academics and renowned professionals with outstanding expertise in their respective fields, who bring to fore the latest theories and provide an up-to-date overview of the extant literature on each topic. More importantly, they draw readers attention to implications for future research and developments. The book not only contributes to the academic literature but also improves the decision making of regulators and investors.

Download or read book The theory of the kingdom A unified model of human agency written by Andrew Root and published by Vernon Press. This book was released on 2024-01-02 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This original monograph presents a comprehensive theory regarding the economy of the kingdom of God. The theory and associated model will help individuals make better choices. The research integrates fundamentals of the temporal real economy, and the permanent economy of the kingdom of God, to present a unified model of human agency. According to the model, effective agents are salt and light in the real economy, arresting corruption and revealing the truth. Effective agency produces life, peace, and growth. Individual and organizational practices that arrest corruption and reveal truth can resolve longstanding economic grievances. The list of spiritual credence goods is extensive and includes commonly known virtues such as humility, patience, and hope. Spiritual goods are allocated based on the owner-agent relationship. The quantity of goods the owner supplies is in proportion to an individual’s sacrificial offering of time and money. Spiritual goods are stored as heart capital. In a process analogous to the real economy, heart labor applied to heart capital produces desirable outputs. The owner relates to his agents through a heart-inscribed behavioral contract. The owner generally intervenes in the real economy by communicating with agents rather than by restricting choice. Prior studies across economics, finance, and sociology prove the efficiency of behavioral contracts and communication over restricted choice. Herein researchers will find new testable propositions, and practitioners will find new ideas and practices to live better, more consequential lives. Examples of practical applications include methods of resolving group-level bias and understanding the purpose of life’s difficulties.

Download or read book Information Technology Governance and Service Management Frameworks and Adaptations written by Cater-Steel, Aileen and published by IGI Global. This book was released on 2008-08-31 with total page 495 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasingly, information technology governance is being considered an integral part of corporate governance. There has been a rapid increase in awareness and adoption of IT governance as well as the desire to conform to national governance requirements to ensure that IT is aligned with the objectives of the organization. Information Technology Governance and Service Management: Frameworks and Adaptations provides an in-depth view into the critical contribution of IT service management to IT governance, and the strategic and tactical value provided by effective service management. A must-have resource for academics, students, and practitioners in fields affected by IT in organizations, this work gathers authoritative perspectives on the state of research on organizational challenges and benefits in current IT governance frameworks, adoption, and incorporation.

Download or read book Mandatory Financial Disclosures and the Banking Sector written by Kumar Dasgupta and published by Springer Nature. This book was released on 2023-08-28 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores mandatory disclosures. The book raises questions regarding the efficacy of market discipline and reaches a conclusion that seems to be borne out by the recent failure of Silicon Valley Bank and Credit Suisse. The book starts by asking the question why do we need mandatory disclosures. First, it develops a framework using a Principal-Agent model that provides an economic rationale for such disclosures. Second, it analyses the requirements outlined in Basel banking regulations over three decades and finds support for the propositions outlined in the developed framework in all key BCBS pronouncements. Last, the book empirically evaluates Pillar 3 disclosures and arrives at the surprising result that such disclosures do not seem have an impact on bond investors. The book concludes by outlining the policy implications regarding the design, efficacy, implementation, and limitations of regulation in an economy.