ABSTRACT A dedicated investor relations (IR) function facilitates direct and ongoing dialog between management shareholders. This paper examines whether this form of engagement mitigates activism that relies upon support from other We find IR is associated with increased confidence in the board, as well a lower likelihood activism, deterrent effect becoming stronger when there are fewer frictio...

BACKGROUND Salivaricins are bacteriocins produced by Streptococcus salivarius, some strains of which can have significant probiotic effects. S. salivarius strains were isolated from Malaysian subjects showing variable antimicrobial activity, metabolic profile, antibiotic susceptibility and lantibiotic production. METHODOLOGY/PRINCIPAL FINDINGS In this study we report new S. salivarius strains...

ABSTRACT Prior studies show that comment letters released by the Securities and Exchange Commission provide information on firms’ financial reporting quality can have adverse value implications about firms. We examine whether short sellers front-run letter disclosures take positions based economic of letters. find interest increases before increase is positively associated with severity also ev...

ABSTRACT We investigate whether firms manage stock prices in anticipation of share issuance. Warrant exercise results issuance and warrant expiration dates are fixed years advance, which precludes market timing. predict to prevent (induce) when is dilutive (anti-dilutive) existing shareholders. To test our prediction, we examine returns around dates. find that the difference between out-of-the-...

Abstract We study U.S. banks’ payout policy in 2007–2008. benchmark these payouts against before the crisis, measure stock price reactions to announcements of dividend changes, and analyze changes relation between growth future performance. Further, we examine cross-sectional variation gauge possible motives underlying decisions do not find that banks have a higher willingness take risk or ince...

ABSTRACT Insurance pricing is subject to stricter regulation in some states than others. This cross-sectional variation, coupled with the occurrence of staggered deregulation several states, enables a powerful test political cost hypothesis that managers manipulate accruals mitigate adverse effects rate regulation. We show insurers understate their loss reserve more regulated regimes, finding c...

The aim of this study is to examine the impact legal audit quality on likelihood accounting fraud, for a sample 48 companies listed Tunisian stock market over period between 2014 and 2018. Based logit panel regression, we have shown that firm's membership in one Big networks rotation external auditors are two major determinants reduction cases fraud companies. In addition, results showed joint ...

Stock return can be one of the representations a company’s performance in investment. This study aims at investigating factors determining stock largest users energy production oil, gas and coal classified manufacturing companies Indonesia’s Exchange for period 2016-2018. It involved 134 classifies as entries IDX that were used target population all selected sample this study. Financial distres...

The purpose of this study is to examine the moderating effect board independence on relationship between ownership concentration and accounting conservatism. Using fixed-effect regressions for a sample 165 Vietnamese listed companies from 2007 2017, results revealed that proportion outstanding shares owned by largest shareholder negatively associated with conservatism plays role in relationship...