ICU management & practice最新文献_第3页

A Profit-Loss Equation Applicable to Business, Economy, Finance and Sociology 适用于商业、经济、金融和社会学的损益方程

ICU management & practice Pub Date : 2004-02-05 DOI: 10.2139/ssrn.499183

K. Winther, C. Mazza

引用次数: 0

The Effect of Capitalization on Banks' Risk Under Regulation and Managerial Moral Hazard: A Theoretical and Empirical Investigation 资本化对银行监管风险和管理道德风险的影响:理论与实证研究

ICU management & practice Pub Date : 2004-01-01 DOI: 10.2139/ssrn.629414

Thomas D. Jeitschko, S. Jeung

{"title":"The Effect of Capitalization on Banks' Risk Under Regulation and Managerial Moral Hazard: A Theoretical and Empirical Investigation","authors":"Thomas D. Jeitschko, S. Jeung","doi":"10.2139/ssrn.629414","DOIUrl":"https://doi.org/10.2139/ssrn.629414","url":null,"abstract":"We investigate the relationship between banks' capitalization and risk-taking behavior. The conventional wisdom is that well-capitalized banks are less inclined to increase asset risk, because the option value of deposit insurance decreases with capitalization. There are, however, at least three shortcomings in the existing theories that cast doubt on the validity of the conventional wisdom. First, many studies neglect agency problems arising from the separation of management and ownership. Second, past studies rely on limited risk-return profiles of the asset choice set and do not consider profiles in which higher risk is associated with higher return. Finally, empirical studies on this issue provide only mixed evidence. The aim of this article is to shed new light on this issue by expanding existing models to account for the shortcomings identified. Thus, we explicitly model three different incentives of the agents that shape risk-taking behavior in banking; regulatory bodies, shareholders, and management. We consider how the respective incentives influence the riskiness of a bank-portfolio for four distinct assumptions about the characteristics of risk-return profiles. By combining these factors, we demonstrate that a bank's risk can either decrease or increase with capitalization depending on the relative forces of the three agents in determining asset risk and on various parametric assumptions about risk-return profiles. In the empirical study, the regression equations are modeled so that the differing incentives of the three agents are allowed to interact. The test results show differences in risk-capitalization relationships across high and low capital banks and across publicly and non-publicly traded banks. This indicates that risk-capitalization relationships are, indeed, sensitive to the relative forces of the three agents in determining asset risk.","PeriodicalId":92040,"journal":{"name":"ICU management & practice","volume":"27 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2004-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74803562","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Ultrametricity in Fund of Funds Diversification 基金组合分散投资中的超对称性

ICU management & practice Pub Date : 2003-12-12 DOI: 10.2139/ssrn.478341

G. Susinno, Maria-Augusta Miceli

引用次数: 20

Managing People in Projects: Case Study the First Municipal Council Election in the Kingdom of Bahrain 项目中的人员管理:巴林王国第一届市议会选举案例研究

ICU management & practice Pub Date : 2003-06-01 DOI: 10.2139/ssrn.891054

Abdulrahman Sultan Alshamlan

引用次数: 0

Specialist Performance and New Listing Allocations on the NYSE: An Empirical Analysis 专家业绩与纽交所新股配置:实证分析

ICU management & practice Pub Date : 2001-05-01 DOI: 10.2139/ssrn.272453

Shane A. Corwin

引用次数: 16

Open Book 'Financial' Management: A Case Study of Manco, Inc. 开放式账本“财务”管理:Manco公司的案例研究

ICU management & practice Pub Date : 2001-05-01 DOI: 10.2139/ssrn.271283

R. Aggarwal, B. Simkins

引用次数: 1

Historical Cost and Price-Level Accounting: A Study for Brazilian Companies 历史成本和价格水平会计:巴西公司的研究

ICU management & practice Pub Date : 2001-01-01 DOI: 10.2139/ssrn.270778

Cesar Augusto Tiburcio Silva

引用次数: 0

The Effects of Limiting Accounting Discretion on the Informativeness of Financial Statements: Evidence from Software Revenue Recognition 限制会计自由裁量权对财务报表信息量的影响:来自软件收入确认的证据

ICU management & practice Pub Date : 2001-01-01 DOI: 10.2139/ssrn.515950

Ron Kasznik

{"title":"The Effects of Limiting Accounting Discretion on the Informativeness of Financial Statements: Evidence from Software Revenue Recognition","authors":"Ron Kasznik","doi":"10.2139/ssrn.515950","DOIUrl":"https://doi.org/10.2139/ssrn.515950","url":null,"abstract":"This paper examines the effects on the informativeness of software companies' financial statements of limiting the amount of discretion with respect to software revenue recognition following the issuance of Statement of Position 91-1 in 1992. The requirement that companies adopt SOP 91-1 by restating earnings for prior periods allows to compare the value-relevance of two sets of data, the originally reported and the restated earnings numbers. I find that the originally reported numbers provide incremental information content over the more conservative restated earnings numbers. This finding is consistent with managers using their discretion in pre-SOP 91-1 periods to convey private information about their firms' underlying economics. Furthermore, relative to a control group of software firms less sensitive to the accounting change, I document a significant decline in the information content of sample firms' reported earnings following the issuance of SOP 91-1, as well as a significant increase in the voluntary disclosure of long-term earnings projections and non-financial information. I interpret these findings as evidence that limiting the amount of discretion has adversely affected managers' ability to communicate effectively with investors through the financial statements.","PeriodicalId":92040,"journal":{"name":"ICU management & practice","volume":"145 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2001-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80440054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6

Information Asymmetry, Corporate Disclosure and the Capital Markets: A Review of the Empirical Disclosure Literature 信息不对称、公司信息披露与资本市场:实证披露文献综述

ICU management & practice Pub Date : 2000-12-01 DOI: 10.2139/ssrn.258514

P. Healy, K. Palepu

引用次数: 6537

Exchange Rates and Corporate Pricing Strategies 汇率和企业定价策略

ICU management & practice Pub Date : 1992-08-01 DOI: 10.3386/W4151

M. Knetter

引用次数: 36