Search results

1 – 10 of 16
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 23 July 2019

Phillip T. Lamoreaux, Lubomir P. Litov and Landon M. Mauler

We document the emergence of the Lead Independent Director (LID) board role in a sample of U.S. firms from 1999–2015. We find that firms that adopt an LID board role are larger…

474

Abstract

We document the emergence of the Lead Independent Director (LID) board role in a sample of U.S. firms from 1999–2015. We find that firms that adopt an LID board role are larger and have more independent boards, higher institutional investor holdings, and an NYSE listing. Firms with greater anticipated benefits from monitoring also adopt an LID role, e.g., firms with dual CEO-Chairman, with more takeover defense mechanisms, and with higher cash holdings. Using an event study methodology, we find that investors respond positively to the adoption of an LID board role. Lastly, using instrumental variables to address endogeneity in the LID board role, we find that firms with an LID are more likely to terminate poorly performing CEOs. Taken as a whole, these results suggest that the LID board role enhances firm value and improves the quality of corporate governance.

Details

Journal of Accounting Literature, vol. 43 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Access Restricted. View access options
Book part
Publication date: 9 October 2020

Nadia Smaili, Julien Le Maux and Walid Ben Amar

Abstract

Details

Corporate Fraud Exposed
Type: Book
ISBN: 978-1-78973-418-8

Access Restricted. View access options
Book part
Publication date: 14 September 2022

Di Bian

While earlier acquisition research often focused on either the acquirer or the target side of analysis, recent work has increasingly emphasized the need to understand the dyadic…

Abstract

While earlier acquisition research often focused on either the acquirer or the target side of analysis, recent work has increasingly emphasized the need to understand the dyadic interrelationship between the target and the acquirer. This review aims at synthesizing research progress in the area of target–acquirer interrelationships and understanding what questions remain unanswered. The author organizes this review into three dimensions of target–acquirer interrelationship: (a) their relative attributes (what both parties are relative to each other), (b) their connections (what both parties have with each other), and (c) their interactions (what both parties do to each other). Based on the review, the author then identifies critical research gaps and opportunities for developing a more comprehensive understanding of the interrelationship between the target and the acquirer in acquisitions.

Access Restricted. View access options
Book part
Publication date: 3 July 2024

Alexandra Smith, Rebecca Olson, Maddison Cuerton, Keesha Abdul Khalil, Phillip Good and Janet Hardy

Symptom control is a key aim of advanced cancer and palliative care. Yet, wellbeing in this context is complex, highly contextual, and contested. The World Health Organisation’s …

Abstract

Symptom control is a key aim of advanced cancer and palliative care. Yet, wellbeing in this context is complex, highly contextual, and contested. The World Health Organisation’s (WHO, 2021, p. 10) recent definition of wellbeing, for example, emphasises ‘meaning and purpose’. Models of care – such as the biopsychosocial model – aim to attend to this complexity. And such models matter: if assessments of an intervention lowlight effects relating to psychological and social domains, the potential benefits of these interventions may go unrecognised. In this chapter, the authors provide the results of a review of symptom assessment scales used in advanced cancer and palliative care settings. Combining the analytic strengths of a critical review with the brevity of a rapid review (Grant & Booth, 2009), this critical rapid review asks: to what degree do scales measuring the impacts/effects of symptoms on wellbeing in advanced cancer contexts incorporate the three components of the ‘biopsychosocial’ model: biological, psychological, and social? Findings – considered in the context of conflicting evidence on the effectiveness of medicinal cannabis in supporting patient wellbeing – show that only five of the eleven scales identified through the review attend to social aspects of wellbeing. These findings reinforce critiques of the biopsychosocial model and demonstrate the dominance of dualistic, biomedical conceptualisations of wellbeing. Drawing on Barry et al.’s (2008) scholarship on interdisciplinarity, the findings underscore the limitations of numeric measures of wellbeing conducted in isolation and support calls for an ontological reimagination of wellbeing in advanced cancer and palliative care contexts.

Details

Researching Contemporary Wellness Cultures
Type: Book
ISBN: 978-1-80455-585-9

Keywords

Access Restricted. View access options
Book part
Publication date: 22 August 2018

Mary T. Rodgers and James E. Payne

We find evidence that the runs on banks and trust companies in the Panic of 1907 were linked to the Bank of England’s contractionary monetary policy actions taken in 1906 and 1907…

Abstract

We find evidence that the runs on banks and trust companies in the Panic of 1907 were linked to the Bank of England’s contractionary monetary policy actions taken in 1906 and 1907 through the medium of copper prices. Results from our vector autoregressive models and copper stockpile data support our argument that a copper commodity price channel may have been active in transmitting the Bank’s policy to the New York markets. Archival evidence suggests that the plunge in copper prices may have partially triggered both the initiation and the failure of an attempt to corner the shares of United Copper, and in turn, the bank and trust company runs related to that transaction’s failure. We suggest that the substantial short-term uncertainties accompanying the development of the copper-intensive electrical and telecommunications industries likely played a role in the plunge in copper prices. Additionally, we find evidence that the copper price transmission mechanism was also likely active in five other countries that year. While we do not argue that copper caused the 1907 crisis, we suggest that it was an active policy transmission channel amplifying the classic effect that was already spreading through the money market channel. If the bust in copper prices partially triggered the 1907 panic, then it provides additional evidence that contractionary monetary policy may have had an unintended, adverse consequence of contributing to a bank panic and, therefore, supports other recent findings that monetary policy deliberations might benefit from considering the policy impact on asset prices.

Details

Research in Economic History
Type: Book
ISBN: 978-1-78756-582-1

Keywords

Access Restricted. View access options
Book part
Publication date: 30 November 2017

Grégoire Croidieu, Birthe Soppe and Walter W. Powell

We analyze how institutional persistence unfolds. Building on an historical analysis of 3,307 bottle labels in the Bordeaux wine community, France, between 1924 and 2005, we find…

Abstract

We analyze how institutional persistence unfolds. Building on an historical analysis of 3,307 bottle labels in the Bordeaux wine community, France, between 1924 and 2005, we find that the persistence of a chateau tradition requires considerable effort at maintenance. Instead of greater compression and taken-for-grantedness, we propose that expansion along multimodal carriers provides a marker of a deepening institutionalization. We underscore the role of community organizations in enabling a wine tradition to persist. The implications of our findings for institutional theory and multimodality research are discussed.

Details

Multimodality, Meaning, and Institutions
Type: Book
ISBN: 978-1-78743-332-8

Keywords

Available. Content available
Book part
Publication date: 26 September 2022

Richard D. Simmons and Nigel Culkin

Free Access. Free Access

Abstract

Details

Covid, Brexit and The Anglosphere
Type: Book
ISBN: 978-1-80382-690-5

Access Restricted. View access options
Article
Publication date: 9 May 2024

Eugenia Y. Lee and Wonsuk Ha

This study aims to examine whether auditors who specialize in research and development (R&D) activities help reduce managers’ opportunistic adjustment of R&D expenditure for real…

138

Abstract

Purpose

This study aims to examine whether auditors who specialize in research and development (R&D) activities help reduce managers’ opportunistic adjustment of R&D expenditure for real earnings management (REM).

Design/methodology/approach

Using a sample of US firms during the 2001–2017 period, the authors identify auditors’ R&D specialization as their prior experience of auditing R&D expenses spent by each client’s peers. The authors measure R&D-based REM as the negative deviation from the predicted level of R&D expenditure.

Findings

The authors find that clients of R&D specialist auditors are less likely to engage in REM through a discretionary reduction of R&D expenditure. This effect is more pronounced when clients face higher competition, have larger investment opportunities and entail higher audit risks.

Practical implications

This study shows that auditors’ specialized knowledge can facilitate stronger monitoring of clients’ real decisions, providing implications for auditors’ knowledge acquisition and transfer in specific types of transactions.

Originality/value

This study contributes to the literature by documenting the governance role played by R&D specialist auditors in clients’ real economic decisions. Moreover, the study identifies R&D as a distinct area of auditor specialization.

Details

Managerial Auditing Journal, vol. 39 no. 4
Type: Research Article
ISSN: 0268-6902

Keywords

Access Restricted. View access options
Article
Publication date: 7 March 2023

Seunghee Yang and Wonsuk Ha

Despite the importance of research and development (R&D), information on its value is not readily available to managers. This study aims to explore the role of common auditors…

412

Abstract

Purpose

Despite the importance of research and development (R&D), information on its value is not readily available to managers. This study aims to explore the role of common auditors, who audit multiple peer firms in the product market, in clients’ R&D investment decisions. This study highlights common auditors as information intermediaries who affect corporate R&D investment, focusing on the importance of knowledge resources in R&D investment and the limited ability of peers’ public information to communicate the value of R&D.

Design/methodology/approach

This study employs pairwise data of firm-peer-year observations to identify a common auditor who provides audit services to the focal firm and its peer firm. This study examines how a firm’s R&D investment changes when the firm’s incumbent auditor provides audit services to peers and analyzes various factors that moderate the effect of common auditors.

Findings

Peer firms audited by the same auditor make similar R&D investment decisions. This effect is more pronounced when the auditor specializes more in auditing R&D, when the auditor has a long-term client relationship, and when the firms exhibit a higher level of demand for incremental information relevant to R&D investment. Consistent with the beneficial role of common auditors, firms that are more responsive to auditor-provided information engage more actively in innovation activities in subsequent years.

Originality/value

This study deepens the understanding of how networks created by common auditors facilitate information flow among client firms and shape these firms’ R&D investment decisions.

Details

Managerial Auditing Journal, vol. 38 no. 5
Type: Research Article
ISSN: 0268-6902

Keywords

Access Restricted. View access options
Book part
Publication date: 13 August 2012

Carl Pacini, Mushfiq Swaleheen and Katherine Barker

Empirical research demonstrates that bribery has a detrimental impact on investment, economic growth, trade, and democratic governments. In response to rising bribery activity and…

Abstract

Empirical research demonstrates that bribery has a detrimental impact on investment, economic growth, trade, and democratic governments. In response to rising bribery activity and the additional burdens placed on corporate officials by the Sarbanes-Oxley Act of 2002, enforcement of the Foreign Corrupt Practices Act (FCPA) of 1977 has reached an all-time high. Although many managers, financial officers, entrepreneurs, and auditors are aware of the FCPA's objectives and mandates, many do not do an adequate job of protecting their firms, employees, and/or clients from fines and prison sentences. The purposes of this paper are to (1) analyze and describe bribery and FCPA case filings, sanctions, payments (bribes), and value of business to be obtained; (2) describe and analyze the important provisions of the FCPA; (3) discuss vicarious liability or the liability of U.S. firms and others for the acts of third parties; and (4) make recommendations to help firms improve their compliance with the FCPA.

Details

Research on Professional Responsibility and Ethics in Accounting
Type: Book
ISBN: 978-1-78052-761-1

1 – 10 of 16
Per page
102050