New issue of the Corporate Ownership and Control journal
The recent issue (Volume 16, Issue 3) of the journal “Corporate Ownership and Control” keeps the tradition of promulgating innovative ideas on a broad range of questions related to corporate governance, namely, capital structure, ownership structure, bank regulation and supervision, banking industry, earnings management, mergers and acquisitions, emerging economy, financial ratios, SMEs governance, financing policy, financial reporting system, internal audit, auditor-auditee relationship etc. The full issue of the journal is available following the link
The extant research yields rich evidence on the pros and cons of a variety of governance mechanisms. As a case in point, Kwon’s study in this issue highlights that although regulatory intervention could improve the informativeness of financial reports, equity investors could perceive the intervention as too costly and offset the potential positive effects.
Krane studies the conflict-handling strategies that are employed during the distinct stages of cross-national internal audit assignments and sheds light on how internal auditors achieve their audit related goals while interacting with auditees of different cultural and linguistic backgrounds.
Another research by Riva and Comoli examines the impact of the new Italian Early Warning System provided by the IC-Code on family SMEs governance. Fan et al. analyze whether the conflicting interest between issuing firms and CEOs affect the going-public decision.
Ballestra et al. propose to value investments subject to interest rate risk using a real options approach, suggesting a different modeling framework for real option pricing which allows one to account for interest rate risk and, at the same time, to reduce computational complexity.
The issue offers insights on a spectrum of domiciles (France, Italy, Malaysia, and Pakistan, among others), settings (financial institutions to football clubs to SMEs), and research methods. As an example, Abdlazez et al. analyze the link between capital structure and governance among publicly traded companies in Malaysia, emphasizing the importance of firm size and contributing to previous research. Moreover, Angelini et al. speak to the role of mini-bonds in Italian SMEs’ capital structure, and Muhammad et al. discuss the effect of M&A on bank performance in Pakistan.
As another example, Fera’s study offers a glimpse into the workings of private companies by examining changes in the revenue-expense matching dynamic, a core attribute of financial accounting, among a sample of Italian firms. And, Faraudello et al. provide an insight into the governance practices of football clubs, offering an informative insight into the ownership structure of the members of the Italian “Serie A.”
Rizza et al. focus on the construction process of network governance, recognizing the contract as the main coordination and control mechanism for stabilizing the network organizations. The case study describes the construction process of a cross-cultural network between an Italian, an Albanian and a Kosovar firm operating in the artistic lightening system business.
In their research Mabrouk and Boubaker test the relation between ownership structure, the life cycle and the funding classification in French companies in the period 2005-2014. Ceccobelli and Giosi investigate earnings management purposes in the banking industry via loan loss provisions using a sample of 156 banks from 19 European countries under the Single Supervisory Mechanism (SSM) over the period 2006-2016.
We hope that you will enjoy reading this issue of our journal!