English  |  正體中文  |  简体中文  |  Items with full text/Total items : 90429/105609 (86%)
Visitors : 10280880      Online Users : 102
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    ASIA unversity > 管理學院 > 財務金融學系 > 期刊論文 >  Item 310904400/64341

    Please use this identifier to cite or link to this item: http://asiair.asia.edu.tw/ir/handle/310904400/64341

    Title: Insider trading, accrual abuse, and corporate governance in emerging markets — Evidence from Taiwan
    Authors: 湯惠雯;Tang, Hui-wen;陳安琳;Chen, Anlin;張眾卓;Chang, Chong-Chuo
    Contributors: 財務金融學系
    Date: 2013-09
    Issue Date: 2013-10-29 17:39:04 (UTC+8)
    Abstract: This study investigates the endogenous relationship between abnormal insider trading and accrual abuse, and explores whether corporate governance affects this relationship. Our results suggest that insiders take advantage of private information on abnormal accruals to time their trading and manipulate accruals opportunistically to mislead the stock market prior to their planned trading. More important, we find that the abuse of inside information for stock trading becomes more serious when a firm's ultimate controller has a great divergence of control rights (or seat-control rights) from cash flow rights. We also find that higher family ownership and control, increased managerial ownership, or a dual leadership structure not only induces more private information trading prior to financial reports disclosure, but also intensifies accrual abuse for future trading. The results for composite governance indices are also consistent with our expectation. Taken together, our evidence suggests that a poor corporate governance system interacts with abnormal insider trading and abnormal accruals, thereby aggravating insider expropriation on outside investors.
    Relation: Pacific-Basin Finance Journal, 24:132-155
    Appears in Collections:[財務金融學系] 期刊論文

    Files in This Item:

    File SizeFormat

    All items in ASIAIR are protected by copyright, with all rights reserved.

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback