New issue of the Corporate Ownership and Control journal
We are pleased to introduce the special issue of the journal “Corporate Ownership and Control” in 2019. The papers therein discuss a broad variety of topics, including capital structure, agency theory, IFRS, health care sector, key audit matters, CG compliance, capital expenditure, company growth, financial performance, earnings management, IAS-IFRS, fair value accounting, opportunism, board compensation, financial crisis, chief audit executive, decision-making process etc.
The full issue of the journal is available at the following link.
Mark Bertus, John S. Jahera Jr. and Keven Yost examine the capital structure of U.S. firms as they relate to corporate governance measures and determine the effect of the enactment of Sarbanes-Oxley Act.
Alexandra Szekeres and Ildikó Orbán investigate how the efficiency indicators of companies applying IFRS will develop during the analysed period and whether and to what extent changes in individual macroeconomic indicators affect the efficiency of companies.
Nisreen Moosa, Osama Al-Hares, Vikash Ramiah and Kashif Saleem examine the relation between environmental degradation and health expenditure by using data on 16 European countries.
Nicole V. S. Ratzinger-Sakel and Jochen C. Theis analyze the impact of considering key audit matters (KAM) on auditor judgment performance by using a 2×2 between-subjects experiment based on a goodwill impairment testing case with 73 auditors.
The next study of Muhammad Arslan, Sazali Abidin, Ahmad Alqatan and Jamal Roudaki explores the extent to which certain underlying formal and informal institutional determinants, such as the auditing, political, legal, board, shareholders awareness, voting, culture, and values play a determining role in corporate governance.
Salimah and Yudhi Herliansyah examine the influence of capital expenditure variables, company growth, and company size on firm value through financial performance moderated by the capital structure of the company in LQ 45 companies listed on the Indonesia Stock Exchange.
M. Thenmozhi, Palanisamy Saravanan and Aghila Sasidharan explore how excess cash drives earnings management and firm value in China. Using a fixed effect panel regression on a sample of 12,629 observations covering 300 firms listed in the Shanghai Stock Exchange, the authors find that excess cash has a positive impact on firm value confirming pecking order theory.
The purpose of the study conducted by Marco Rotili, Alessandro Giosi and Giacomo Ceccobelli is to question the basic assumption of the higher value relevance (meaning its superior ability to represent the value of assets and liabilities) of the International Accounting Standard (IAS-IFRS), as compared to Italian accounting practices.
Maurizio La Rocca, Francesco Fasano and Gian Marco Napoli provide evidence of an interesting business case in which many corporate governance rules were disregarded. The study is based on the analysis of managerial profiles of Presidents and CEOs of Alitalia, evidencing their relationship with corporate governance issues.
Massimo Belcredi and Stefano Bozzi study the determinants of remuneration paid to individual non-executive directors (NEDs) and, in particular, to independent directors (INEDs).
Zakaria Boulanouar, Tahar Lazhar Ayed and Stuart Locke by using the theory of planned behaviour, explore behavioural and non-behavioural factors underpinning small business’ (SB) choice of a bank.
Vincenzo Capizzi, Renato Giovannini and Valerio Pesic consider the risks and perils arising from LBO transactions. By focusing attention on 2,450 deals, for which the authors compare the performance achieved before and after the deal, the study adds to previous literature that has investigated the post-LBO operating performance and the factors which can determine the success of those deals.
Francesco Grimaldi investigates the relationship between the financial crisis and earnings management. Particularly, the study aims at investigating whether, in the Italian context, the precarious macroeconomic conditions and the consequent difficulties suffered by listed companies have constituted an incentive to implement earnings management or not.
Marc Eulerich, Tatiana Mazza, Joel Behrend and Ronja Krane examine the different factors which impact the compensation level of chief audit executives (CAE) and shed light on often unobservable and, therefore, opaque drivers of CAE remuneration.
Carmela Rizza explores the crucial role that balance sheet analyses play in supporting the organizational actors to monitor the state of the company and the decision-making processes.
Simona Zambelli sheds some light on the recent institutional challenges faced by PE investors in Italy, especially with reference to the fiscal treatment of LBO transactions.
We hope that reading this issue will be pleasant and informative for you!