1,720,958 research outputs found
Essays on Reverse Leveraged Buyouts
Get PDFThis dissertation studies target capital structure, transitory debt and corporate governance applications in private equity firms portfolio companies by utilizing a unique sample of reverse leveraged buyouts (reverse LBOs). In chapter 1, I investigate target capital structure and transitory debt. I show that firms follow target capital structures and they quickly reduce their debt ratios to levels near target ratios at the time of the reverse LBO. A minority of firms in the sample increase debt significantly after the reverse LBO. In accordance with the transitory debt hypothesis, these firms value the option to borrow and decrease their debt levels accordingly so that they can preserve the option to borrow for future. When the firms have valuable investment options, they once again issue transitory debt deliberately but temporarily, they move away from their target leverage ratios, use the proceeds from the issue mainly for investment purposes, and they revert back to the target leverage levels gradually. In chapter 2, I investigate the corporate governance structures employed by private equity firms in their portfolio companies. I show that, compared to the control firms, RLBO firms prefer to be incorporated in Delaware and have unitary boards, have younger board members with shorter tenures, have more financial experts on their boards, have CEOs with shorter tenures, prefer busy board members and busy boards. They also have smaller number of members on their boards, compared to previous findings from earlier decades. In addition, the majority of board members are effectively monitoring directors and the majority of board members on various committees of the boards are independent directors. In addition, firms are associated with high ownership by blockholders, high total managerial ownership, and low CEO ownership. Lastly, the evidence suggests that top executives and CEOs of RLBO firms do not receive significantly higher levels of compensation compared to control firms. Also, RLBO firms usually prefer to pay a higher fraction of total compensation in form of bonuses, and less in the form of stock option grants.Ph.D., Finance -- Drexel University, 201
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Market reaction to director independence at Borsa Istanbul
No full textAbstractThis study investigates the market reaction to appointments and departures of independent directors to boards and various board committees, as well as the magnitude of the market reaction based to the expertise and busyness of these directors. The findings suggest that investors in Turkish capital markets do not value the existence of independent directors on boards or committees of boards. In addition, the findings suggest that investors do not value the expertise of independent directors. However, investors appear to value the busyness of independent directors. The findings are robust to various model specifications
Do female directors of companies appoint audit firms with women in high-level positions?
No full textPurposeThis paper aims to investigate whether female directors of companies are more likely to appoint audit firms (AFs) with women in high-level positions adopting monitoring, reputation and homophily theories.Design/methodology/approachThe paper uses ordinary least square to test the hypotheses using a unique hand-collected data set obtained from various sources. To mitigate potential endogeneity and selection bias issues, system generalized method of moments (GMM) and Heckman two-stage procedures are used. Additionally, alternative independent and dependent variables are created to strengthen the validity of main results.FindingsThe findings show that female directors are more likely to appoint AFs with women in high-level positions. Non-independent female directors, compared to independent ones, are particularly inclined to do so. These results are supported by further analyses using system GMM, Heckman two-stage procedures and alternative variables.Originality/valueThis study examines how female directors influence companies' choices of AFs with women in high-level positions. It introduces unique audit firm governance proxies and variables specific to developing countries. The study also controls for various corporate governance, company and audit firm characteristics
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
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