Corporate Governance Quality Of Financial Information And Macroeconomic Variables On The Prediction Power Of Financial Distress Of Listed Companies In Taiwan
DOWNLOAD
Download Corporate Governance Quality Of Financial Information And Macroeconomic Variables On The Prediction Power Of Financial Distress Of Listed Companies In Taiwan PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Corporate Governance Quality Of Financial Information And Macroeconomic Variables On The Prediction Power Of Financial Distress Of Listed Companies In Taiwan book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Corporate Governance Quality Of Financial Information And Macroeconomic Variables On The Prediction Power Of Financial Distress Of Listed Companies In Taiwan
DOWNLOAD
Author : Ralph Lu
language : en
Publisher:
Release Date : 2008
Corporate Governance Quality Of Financial Information And Macroeconomic Variables On The Prediction Power Of Financial Distress Of Listed Companies In Taiwan written by Ralph Lu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
This paper performs an empirical investigation on the relationship among the possibility of financial distress, firm performance, corporation governance and macroeconomic environment using the companies listed on the Taiwan Stock Exchange (TSEC) and the financial distress events took place between 1997 and 2003. It is observed that the firms on the brush with bankruptcy defined as follows: insolvent companies; firms under 100%-cash margin requirement; trading-halt companies; firms de-listed from TSEC; net worth is negative; serious loss. The sample data set are formed according to the industry-matched and size-matched principle. We build up a quarters-ahead-predicting model of financial distress allowing for measuring treatment effects of governance characteristics. Meanwhile, we present a moving-window with augmenting information set research design to evaluate the capacity of our forecasting model. It is found that the capacity of poor company to come out of financial distress is determined by how transparent the governance is, especially for one-quarter ahead of prediction. All of the poor companies falling into the observed group of CEO with high stock-holding and those pledging ratio almost went into bankruptcy. Through the comparison of moving-window research design, we found that the early warning model with treatment effects performs better in prediction power than those competitive models.
Corporate Governance And Financial Distress
DOWNLOAD
Author : Zhiyong Li
language : en
Publisher:
Release Date : 2015
Corporate Governance And Financial Distress written by Zhiyong Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Poor corporate governance can damage the interests of shareholders, and may lead to company collapse. Previous studies in credit risk prediction provide no consensus as to which and how corporate governance variables determine bankruptcy. This paper is the first to apply a discrete time hazard model and a wide selection of 35 corporate governance measures including board composition, ownership structure, management compensation, and director and manager characteristics in predicting corporate credit risk by using a panel dataset of ten years for 1688 companies. We find that state control, institutional ownership, salaries of independent directors, the Chair's age, the CEO's education, the work location of independent directors and concurrent CEO positions have significant associations with the risk of financial distress. Governance measures, financial ratios and macroeconomic variables provide the best predictive accuracy. Policy implications are particularly suggested that regulations regarding State-Owned Enterprises and independent directors should be specially focused.
Analysis Of Financial Distress Prediction Models
DOWNLOAD
Author : Li-Tze Lee
language : en
Publisher:
Release Date : 2010
Analysis Of Financial Distress Prediction Models written by Li-Tze Lee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Biometry categories.
The purpose of this study is to evaluate financial and non-financial variables using the bankruptcy prediction model. Considering Taiwan companies listed between 2001 and 2005, the estimation sample comprises 140 firms (70 failing and 70 non-failing), and the validation sample comprises 52 firms (26 failing and 26 non-failing). In contrast to previous studies, this paper provides a corporate governance index as non-financial variables to predict financial distress along with financial index. Logistic regression is applied to examine these samples for 3 year data prior to business failure. In the estimation sample, the indexes combining both financial and corporate governance indexes gave the most accurate predictions. In the validation sample, the financial variables yielded the most accurate predictions.
International Corporate Governance
DOWNLOAD
Author :
language : en
Publisher: Emerald Group Publishing
Release Date : 2015-10-01
International Corporate Governance written by and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-01 with Business & Economics categories.
Advances in Financial Economics, volume 18, will present research on corporate governance both in the US and globally. The volume will aim at providing a deeper understanding of corporate governance practices, trends, innovations and challenges using international data.
Can Corporate Governance Variables Enhance The Prediction Power Of Accounting Based Financial Distress Prediction Models
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2003
Can Corporate Governance Variables Enhance The Prediction Power Of Accounting Based Financial Distress Prediction Models written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance
DOWNLOAD
Author : El Bachir Boukherouaa
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-22
Powering The Digital Economy Opportunities And Risks Of Artificial Intelligence In Finance written by El Bachir Boukherouaa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-22 with Business & Economics categories.
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Financial Statement Analysis And The Prediction Of Financial Distress
DOWNLOAD
Author : William H. Beaver
language : en
Publisher: Now Publishers Inc
Release Date : 2011
Financial Statement Analysis And The Prediction Of Financial Distress written by William H. Beaver and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
Financial Statement Analysis and the Prediction of Financial Distress discusses the evolution of three main streams within the financial distress prediction literature: the set of dependent and explanatory variables used, the statistical methods of estimation, and the modeling of financial distress. Section 1 discusses concepts of financial distress. Section 2 discusses theories regarding the use of financial ratios as predictors of financial distress. Section 3 contains a brief review of the literature. Section 4 discusses the use of market price-based models of financial distress. Section 5 develops the statistical methods for empirical estimation of the probability of financial distress. Section 6 discusses the major empirical findings with respect to prediction of financial distress. Section 7 briefly summarizes some of the more relevant literature with respect to bond ratings. Section 8 presents some suggestions for future research and Section 9 presents concluding remarks.
Asean Corporate Governance Scorecard
DOWNLOAD
Author : Asian Development Bank
language : en
Publisher: Asian Development Bank
Release Date : 2014-06-01
Asean Corporate Governance Scorecard written by Asian Development Bank and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-01 with Business & Economics categories.
Corporate governance principles provide guidance on how corporations should operate. Adoption of international corporate governance best practices leads to long-term sustainability and resilience, and can be a competitive tool to attract foreign investments. The Asian Development Bank, in partnership with the ASEAN Capital Markets Forum, have jointly developed the ASEAN Corporate Governance Scorecard, an assessment based on publicly available information and benchmarked against international best practices that encourage publicly listed companies to go beyond national legislative requirements. This report can be used by capital market regulators and other stakeholders as a reference to understand the current corporate governance standards across the region. It is also a useful diagnostic tool to guide improvement of corporate governance standards.
Financial Crises Explanations Types And Implications
DOWNLOAD
Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-30
Financial Crises Explanations Types And Implications written by Mr.Stijn Claessens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-30 with Business & Economics categories.
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Strategic Bankruptcy
DOWNLOAD
Author : Kevin J. Delaney
language : en
Publisher: Univ of California Press
Release Date : 2023-09-01
Strategic Bankruptcy written by Kevin J. Delaney and has been published by Univ of California Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-01 with Social Science categories.
In 1982 Johns-Manville, a major asbestos manufacturer, declares itself insolvent to avoid paying claims resulting from exposure to its products. A year later, Continental Airlines, one of the top ten carriers in the United States, claims a deficit when the union resists plans to cut labor costs. Later still, oil powerhouse Texaco cries broke rather than pay damages resulting from a courtroom defeat by archrival Pennzoil. Bankruptcy, once a term that sent shudders up a manager's spine, has now become a potent weapon in the corporate arsenal. In his timely and challenging study, Kevin Delaney explores this profound change in our legal landscape, where corporations with billions of dollars in assets employ bankruptcy to achieve specific political and organizational objectives. As a consequence, bankruptcy court is rapidly becoming an arena in which crucial social issues are resolved: How and when will people dying of asbestos poisoning be compensated? Can companies unilaterally break legally negotiated labor contracts? What are the ethical and legal rules of the corporate takeover game? In probing the Chapter 11 bankruptcies of Johns-Manville, Frank Lorenzo's Continental Airlines, and Texaco, Delaney shows not only that bankruptcy is pursued by managers more and more as a strategy, but that it is becoming accepted by the business community as a viable option, and not just a last-ditch solution. This searing exposé of current corporate practices will incite debate among corporate executives, lawyers, legislators, and policy makers.