排序方式: 共有26条查询结果,搜索用时 15 毫秒
1.
Disclosure standards mandate the quantitative disclosure of hedging‐instrument‐related risks but not the disclosure of hedged‐item‐related risks. We examine how a match (mismatch) in formats, caused by making quantitative (qualitative) hedged item disclosures alongside quantitative hedging instrument disclosures, affects investors' integration of information from these two related disclosures. Our first experiment varies the hedged item disclosure format (quantitative or qualitative) and the portion of risk hedged (small or large). We find that when disclosure formats are mismatched, the less comparable nature of the two disclosures caused investors to neglect the offsetting relationship when assessing net risks. As a result, risk and investment judgments were influenced by the more prominent quantitative hedging instrument disclosures. Our second experiment finds that the use of a qualitative debiaser that clarifies the relationship between the two disclosures led to the integration of information and mitigated this effect. 相似文献
2.
Despite the difficulty of finding comparable firms in a less populated market, we provide evidence on the usefulness of the comparable firm approach using 275 Australian industrial IPOs from 1993 to 2000. We show that, without adjustments, IPO price-earnings (P/E) and market-to-book (P/B) multiples based on management forecasts of earnings and book values of equities provided in prospectuses are strongly associated with the average P/E and P/B multiples of two comparable firms (matched on industry, growth and size). Additional tests show that the value estimated using the comparable firm approach (in the form of a P/V ratio, where P is the offer price and V is the estimated firm value) is associated with IPO underpricing. 相似文献
3.
4.
Gillian Hian Heng Yeo David A. Ziebart 《Review of Quantitative Finance and Accounting》1995,5(1):5-25
This study examines the inferential bias due to the failure to control for self-selection when studying the market's reaction to management earnings forecasts. The analysis is conducted by controlling for self-selection and comparing the results to those obtained when self-selection is not controlled. This comparison suggests that the overall inference of a market reaction to the management forecast issuance does not change. However, the statistical significance declines when self-selection is considered. Since the issuance of a management forecast is an obvious self-selection, the results of this study suggest that self-selection should be considered and evaluated in quasi-experimental studies in accounting and finance. 相似文献
5.
While culture in emergency management has gained attention from the field of risk communication, few have systemically dealt with the nuances of general culture involved in the formation and differentiation of risk communication. To fill this gap, this research aims to first examine cultural nuances from the 2016 Louisiana flood response by primarily focusing on communications embedded in social media. The results from social network analysis and content analysis highlight that the flood response communication had strong cultural characteristics, highlighting the notion that of the cultures in Louisiana—faith-based, local authority, and nonprofits—were the prominent cultural responders in the flood response communication. In particular, cultural similarity in both intra/inter group response communication was observed, with each communication group comprising actors who shared a common cultural background and spoke similar keywords. 相似文献
6.
Russell A. Smith Vickie Chong Cheryl Tay Yeo Jingwen 《Asia Pacific Journal of Tourism Research》2013,18(2):229-245
This paper deals with questions of beach resort development processes and their management. Issues are discussed within the context of Boracay Island in the Philippines, which is a popular destination, but one that is at risk from uncontrolled growth. The framework for the analysis is an existing model, and comparisons between it and the case reveal similarities and divergences. Findings suggest the unique qualities of individual resorts arising from local and national circumstances, but indicate more general patterns and attendant challenges that have a wider applicability. Development models are also seen to be useful, despite their limitations. 相似文献
7.
8.
Sheng-Syan Chen Kim Wai Ho Cheng-few Lee & Gillian H.H. Yeo 《The Financial Review》2002,37(2):165-183
We examine institutional characteristics and the wealth effects of private equity placements in Singapore. Our findings show that private placements in Singapore generally result in a negative wealth effect and a reduction in ownership concentration. We find that at high levels of ownership concentration, the relation between abnormal returns and changes in ownership concentration is significantly negative. We also show that the market reacts less favorably to placements in which management ownership falls below 50%, but more favorably to issues to single investors. We do not find evidence suggesting that our results are due to an information effect. 相似文献
9.
Mabel Yeo 《Public Management Review》2013,15(10):1379-1402
An objective of Singapore’s ongoing public sector reform (PS21) requires agencies to focus on getting the best out of its employees. One way of doing this is by creating a positive leader–member exchange (LMX) relationship, enabling supervisors to motivate their subordinates towards the development of organizational citizenship behaviours (OCBs). This article reports the extent of LMX and relational quality in a public sector agency experiencing PS21 reform and high staff turnover. In addition, we examined the effects of organizational justice perceptions and job satisfaction towards a subordinates’ OCB. A path model was developed to examine the relationships between LMX, organizational justice, job satisfaction, and OCB and tested by applying LMX theory. The path analysis results showed that LMX mediates the relationship between organizational justice perceptions and OCB. The results also showed that one’s job satisfaction led to higher level of OCB. The study findings have implications for theory and practice which have been presented in the discussion section. 相似文献
10.