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15 Commerce, Management, Tourism and Services
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Browsing 15 Commerce, Management, Tourism and Services by Author

Browsing 15 Commerce, Management, Tourism and Services by Author "Walter Terry"

Now showing items 1-20 of 25

The Association between audit quality, accounting disclosures and firm-specific risk: evidence from initial public offerings

Lee Phillip; Stokes Donald; Taylor Stephen; Walter Terry (World Scientific Publishing Company, 2006)

In an environment where expected litigation costs were relatively low and the provision of forward-looking accounting information was voluntary (Australia), we show that IPO firms voluntarily providing an earnings forecast ...
Australian IPO pricing in the short and long run

Lee Phillip; Taylor Stephen; Walter Terry (Elsevier Inc, 1996)

We analyse both initial underpricing and post-listing returns for Australian IPOs. Our results are consistent with the view that unique institutional characteristics may have overwhelmed previous Australian tests of ...
Broker recommendations and Australian small-cap equity fund management

Comerton-Forde Carole; Gallagher David; Lai J; Walter Terry (Blackwell Publishing, 2011)

This study examines whether the abnormal performance of active Australian small-cap equity fund managers is associated with broker recommendations. Our evidence supports the investment value of broker recommendations, ...
Competition in the market for takeover advisers

Da Silva Rosa Raymond; Lee Phillip; Skott Michael; Walter Terry (Australian Graduate School of Management, 2004)

We investigate factors that motivate bidders to engage advisers, we model adviser selection and we test whether value-adding advisers gain market share. Our sample includes 801 attempted takeovers over 1989-1998 in Australia. ...
Corporate governance and the long-run performance of firms issuing seasoned equity: An Australian study

Brown Philip; Lee Michael; Owen Sian; Walter Terry (AFAANZ, 2009)

Corporate governance has been propelled to the forefront of contemporary business thinking by a string of high profile corporate collapses and dramatic regulatory responses in the United States, Australia and in other ...
Corporate governance, insider ownership and operating performance of Australian initial public offerings

Balatbat Maria; Taylor Stephen; Walter Terry (Blackwell Publishing, 2004)

We examine ownership structures and corporate governance attributes of 313 Australian initial public offerings (IPOs) between 1976 and 1993 and their relation with up to 5 years of post-listing operating performance, ...
The Demutualisation of the Australian Stock Exchange: Causes and Consequences

Cowan Tom; Da Silva Rosa Raymond; Walter Terry (SAI Global Ltd, 2004)

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Dividend smoothing when firms distribute most of their earnings as dividends

Al-Yahyaee Khamis; Pham Toan; Walter Terry (Routledge, 2011)

Due to its distinctive institutional background, Oman offers a valuable opportunity to investigate the stability of the dividend policy. In Oman, (1) there are no taxes on dividends, (2) firms are highly levered mainly ...
Dividend stability in a unique environment

Al-Yahyaee Khamis; Pham Toan; Walter Terry (Emerald Insight, 2010)

Purpose ¿ This paper aims to examine the stability of dividend policy using a unique data set. Design/methodology/approach ¿ The paper is based on the Lintner model that is used to test the dividend smoothing behavior. The ...
Do informed traders win? An analysis of changes in corporate ownership around substantial shareholder notices

Da Silva Rosa Raymond; Saverimuttu Nirmal; Walter Terry (Blackwell, 2005)

The financial economics literature typically distinguishes between two classes of investors, namely `informed¿ and `uninformed¿ traders. Informed traders are those who possess some fundamental information about the true ...
The Effect of Investor Category Trading Imbalances on Stock Returns

Calwell David; Henker Julia; Walter Terry (Blackwell, 2008)

Trading is the mechanism of the economist's `invisible hand,' the means by which price discovery occurs. We use daily shareholdings data from the Australian equities clearinghouse to investigate the impact of the trading ...
Errors in estimating unexpected accruals in the presence of large changes in net external financing

Shan Yaowen; Taylor Stephen; Walter Terry (AFAANZ, 2009)

We demonstrate that the articulation among accruals, cash flows and revenues which is typically assumed in tests of earnings management does not hold when large (positive or negative) external financing activities are ...
Ex-Dividend Day Behaviour in the Absence of Taxes and Price Discreteness

Al-Yahyee Khamis; Pham Toan; Walter Terry (Blackwell, 2008)

We examine the ex-dividend day behavior in a unique setting where (1) there are neither taxes on dividends nor on capital gains, (2) stock prices have been decimalized, (3) dividends are distributed annually, and (4) we ...
Expert reports in Australian takeovers: Fees and quality

Bugeja Martin; Da Silva Rosa Raymond; Walter Terry (Wiley-Blackwell Publishing Asia, 2005)

Target firms in Australian takeovers are required to commission the preparation of an independent expert report in circumstances where there is a perceived conflict of interest with the bidder. As approximately half of ...
The impact of statutory sanctions on the level and information content of voluntary corporate disclosure

Brown Philip; Taylor Stephen; Walter Terry (Wiley-Blackwell Publishing Asia, 1999)

This article examines the effect of statutory civil and criminal sanctions on voluntary corporate disclosures by firms listed on the Australian Stock Exchange (ASX). Apart from direct investigation of the quantity of ...
The information content of cash dividend announcements in a unique environment

Al-Yahyaee Khamis; Pham Toan; Walter Terry (Elsevier Inc, 2011)

Due to its distinctive institutional background, Oman offers a valuable opportunity to examine stock price reactions to dividend announcements. In Oman, (1) there are no taxes on dividends and capital gains, (2) there is ...
Investment manager skill in small-cap equities

Chen Cong; Comerton-Forde Carole; Gallagher David; Walter Terry (Australian Graduate School of Management, 2010)

Using a representative sample of monthly portfolio holdings and daily trades, this study presents unique evidence of significant stock selection skill amongst institutional small-cap equity managers on a risk-adjusted ...
Investors' trading behavior and performance: Online versus non-online equity trading in Korea

Oh Natalie; Parwada Jerry; Walter Terry (Elsevier, 2008)

This paper investigates the trading behavior and performance of online equity investors in comparison to non-online equity investors in Korea. While online trading has become more prevalent in financial markets, the role ...
IPO flipping in Australia: Cross-sectional explanations

Bayley Luke; Lee Phillip; Walter Terry (Elsevier, 2006)

We access electronic share settlement records for each subscriber and aftermarket investor in 419 Australian IPOs to investigate whether initial subscribers flip their allocations, and we relate this flipping behaviour to ...
Market returns to acquirers of substantial assets

Da Silva Rosa Raymond; Nguyen Thuy; Walter Terry (Australian Graduate School of Management, 2004)

Does poor post-acquisition performance characterise firms that make non-M&A acquisitions? We investigate the wealth effects of substantial asset acquisitions (i.e. acquisitions that cost over $10 million) on acquiring ...

Now showing items 1-20 of 25

Browsing 15 Commerce, Management, Tourism and Services by Author "Walter Terry"

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Browsing 15 Commerce, Management, Tourism and Services by Author "Walter Terry"