entities must restate their comparative financial statements when they correct prior periods accounting errors or change accounting methods. although financial restatements have adverse effects on the relevance and reliability of financial statements’ information, financial restatement has increased considerably among listed companies in tehran stock exchange, tse, in the recent years. the main...

Rework in construction development projects can significantly degrade project cost and schedule performance. In a typical construction development project which involves design and construction, rework in the construction phase could increase construction cost by 10%-15% of the contract price (Burati. 1992, Josephson & Hammerlund 1999, Love & Li 2000). The proportion of money and time spent on ...

The "leverage effect" refers to the well-established relationship between stock returns and both implied and realized volatility: volatility increases when the stock price falls. A standard explanation ties the phenomenon to the effect a change in market valuation of a firm's equity has on the degree of leverage in its capital structure, with an increase in leverage producing an increase in sto...

We focus on the -nite-sample behavior of heteroskedasticity-consistent covariance matrix estimators and associated quasi-t tests. The estimator most commonly used is that proposed by Halbert White. Its -nite-sample behavior under both homoskedasticity and heteroskedasticity is analyzed using Monte Carlo methods. We also consider two other consistent estimators, namely: the HC3 estimator, which ...

In a recent study by Ginther et al., the probability of receiving a U.S. National Institutes of Health (NIH) RO1 award was related to the applicant’s race/ethnicity. The results indicate black/African-American applicants were 10% less likely than white peers to receive an award, after controlling for background and qualifications. It has generated a widespread debate regarding the unfairness of...

This paper outlines ongoing research that is investigating ways to increase the supply of high quality planting materials for smallholder forestry in the Philippines. A Bayesian Belief Network (BBN) of the nursery sector that had been developed previously by one of the authors was further refined during a planning and implementation workshop for the ACIAR Smallholder Nursery project. The refine...

This paper shows that the quantitative predictions of an equilibrium asset-pricing model with financial frictions are consistent with key features of the Sudden Stop phenomenon. Foreign traders incur costs in trading assets with domestic agents, and a collateral constraint limits external debt to a fraction of the market value of domestic equity holdings. When this constraint does not bind, sta...

This study was conducted to examine the effect of liquidity, leverage, and activity on company value using profitability as an intervening variable. The companies used research objects are various manufacturing in IDX30 listed Indonesia Stock Exchange with observation period 2016-2021. All collected data analysed Smart PLS software. results analysis show that, directly, leverage affect profitab...