Balancing collateral efficiency versus investor protection
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منابع مشابه
To Study The Effect of Investor Protection on Future Stock Price Crash Risk
Managers are responsible for providing financial statements and they might try to make a good picture of their firm's conditions. Therefore, they try to delay the disclosure of bad news and release the good news as soon as possible. The ten-dency of managers toward hiding bad news increases the stock price crash risk. The protection of investor is one of the factors that can prevent from fallin...
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For nearly half a century, the literature on dividend payments has questioned why firms pay dividends at all. Two competing models have emerged to explain this. In low investor protection regimes, corporate insiders give dividends to signal trust. In high-protection regimes, outside investors have the power to demand dividends. Using a unique laboratory experiment, our results back the empirica...
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We develop a model to illustrate that controlling shareholders choose the level of investor protection that maximizes their own interests. Controlling shareholders in companies with complicated control structures can easily extract private benefits and are thus reluctant to enhance investor protection which would necessitate increased transparency. In contrast, controlling shareholders in compa...
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This paper examines the differences in accrual-based and real earnings management across countries from the perspective of investor protection. Following prior research (Leuz et al., 2003), we hypothesize that accrual-based earnings management is more constrained by strict discipline in countries with stronger investor protection. For real earnings management in countries with stronger investor...
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With the growth in customers’ demand diversification, mixed-model U-lines (MMUL) have acquired increasing importance in the area of assembly systems. There are generally two different approaches in the literature for balancing such systems. Some researchers believe that since the types of models can be very diverse, a balancing approach without simultaneously sequencing of models will not yield...
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