This paper examines the earnings management behavior of Japanese merger acquirers on the Tokyo Stock Exchange. Most Japanese mergers are transacted via stock swaps, when acquirers have incentive to manage pre-merger earnings to reduce the cost of acquisition. Consistent with this incentive, Japanese acquirers have significantly positive long-term abnormal accruals in the year prior to the merge...

I address the following issue in this paper: how does information sharing among banks about borrowers affect banks’ competition, and ultimately, the interest rate borrowers pay for the loan they take? One would expect that full information sharing among banks reduces lenders’ risk and results in lower lending rates than any other arrangement. This may be the reason why regulators of the banking...

the purpose of this study is the feasibility of customer relationship management implementation from employees and managers' perspective of melli bank in esfahan city by using structural equation modeling (sem). this study is applicable in terms of purpose and descriptive –survey in terms of method. the sample population of this study was employees and managers of melli bank in esfahan cit...

This paper investigates the mechanism through which short selling of a bank’s stocks can trigger the failure of the bank. In the model, creditors, who learn information from stock prices, will grow increasingly unsure about the bank’s true fundamentals in facing noisier stock prices; thus a run on the bank is more likely because of creditors’ concave payo¤. Understanding this, speculators condu...

This paper investigates macroeconomic effects of bank regulation in a continuoustime macro-finance framework with both bond-financing and bank-financing. Risky firms appreciate bank credit because banks are efficient at liquidating assets for troubled firms. However, risky firms must pay the risk premium for banks’ exposure to aggregate risks. Our framework captures the feature that the cost of...

In this paper, we present a new structure for linear−phase filter banks without redundancy, which have unequal−length filters at each subband. First, we extend the simplified lattice structure of the linear−phase filter bank to the unequal−length linear−phase paraunitary filter bank. In general, the unequal−length linear−phase paraunitary filter bank has equal−length filters at both the analysi...

retinoic acid is one of the derivatives of vitamin A.it is used for treatment of dermatitis,but it has different teratogenic effects on developing organs depending on the different stages of embryonic life.neural  tube is made of two different parts:primary neural tube originated from embryo germinal layer and and secondary neural tube originated from tail bud.the persent study was designed to ...

Single staggered is a design development of normal wire and tube heat exchanger that wires are welded with staggered configuration on two sides. Capacity of wire and tube heat exchanger is the ability of the heat exchanger to release heat. The objective of this study is to analyse the effect of wire pitch (pw) on capacity of single staggered wire and tube heat exchanger. The research...

Evaluation of the interaction between a new and the existing underground structures is one of the important problems in urban tunneling. In this work, using FLAC3D, four numerical models of single- and twin-tube tunnels in urban areas are developed, where the horizontal distance between the single- and twin-tube tunnels are varied. The aim is to analyze the effects of the horizontal dista...