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Title: The tasks of the working class in mastering the technique of production.
Creator: Stalin, Joseph
Date Issued: 1932
PURL: http://purl.flvc.org/FCLA/DT/3171052
Subject Headings: Industrial management.
Format: Document (PDF)

Title: NEW PLANT SITE SELECTION: A STUDY OF VARIOUS FACTORS WITH EMPHASIS ON HUMAN RESOURCE CONSIDERATIONS IN THE DECISION.
Creator: CAUTHEN, OLLIE, JR., Florida Atlantic University, Zimmerer, Thomas W.
Abstract/Description: The problem of the study was to investigate tho relative importance of various factors which influence tho now plant site selection decision, Tho study method of inquiry was employed using a questionnaire survey which was sent to two populations--a group of chemical operations and selected companies from the Fortune 500 list, Primary emphasis was placed on human resource considerations. In summary, it appears that human resources and related considerations have now moved to the forefront of...
Show moreThe problem of the study was to investigate tho relative importance of various factors which influence tho now plant site selection decision, Tho study method of inquiry was employed using a questionnaire survey which was sent to two populations--a group of chemical operations and selected companies from the Fortune 500 list, Primary emphasis was placed on human resource considerations. In summary, it appears that human resources and related considerations have now moved to the forefront of relative significance in the new plant site selection decision.
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Date Issued: 1973
PURL: http://purl.flvc.org/fcla/dt/13540
Subject Headings: Industrial management
Format: Document (PDF)

Title: THE IMPACT OF THE MANAGERIAL GRID ON ORGANIZATION CHANGE.
Creator: HART, HOWARD ARTHUR., Florida Atlantic University, Clare, Donald A.
Abstract/Description: The Managerial Grid is examined as an organization development approach for a large manufacturing corporation. Using the case study method, the results of a seven year history of Grid activities are measured in terms of performance, culture, and several other categories. Conclusions are reached that Phase 2 of the Grid has a statistically significant impact on the organization when measured against Phase ø (no Grid activity) and the results of Phase 1 (the Grid Seminar). The paper also...
Show moreThe Managerial Grid is examined as an organization development approach for a large manufacturing corporation. Using the case study method, the results of a seven year history of Grid activities are measured in terms of performance, culture, and several other categories. Conclusions are reached that Phase 2 of the Grid has a statistically significant impact on the organization when measured against Phase ø (no Grid activity) and the results of Phase 1 (the Grid Seminar). The paper also discusses the significance of change and five other approaches to behavioral science-based organization development.
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Date Issued: 1973
PURL: http://purl.flvc.org/fcla/dt/13538
Subject Headings: Management science, Industrial organization
Format: Document (PDF)

Title: Does corporate diversification enhance firm value during times of crisis?.
Creator: Volkov, Nikanor, Garcia-Feijoo, Luis, Graduate College
Date Issued: 2013-04-12
PURL: http://purl.flvc.org/fcla/dt/3361968
Subject Headings: Diversification in industry, Value, Industrial management
Format: Document (PDF)

Title: AN ANALYSIS OF THE INDUSTRIAL WAGE SYSTEM AND MANAGEMENT COMPENSATION PLANS.
Creator: MCCLUNG, DAVID WILLIAM., Florida Atlantic University, Franklin, Charles B. Jr.
Abstract/Description: This thesis reports on how companies compensate employees. It deals with the factors that influence direct and indirect compensation and what special benefits and perquisites are made available to wage and management employees. A multiplicity of influences plays upon any determination of wages for the individual and the organization. These forces vary so in their impact that any static approach to wage criteria is misleading. The executive employee's compensation must contain both financial...
Show moreThis thesis reports on how companies compensate employees. It deals with the factors that influence direct and indirect compensation and what special benefits and perquisites are made available to wage and management employees. A multiplicity of influences plays upon any determination of wages for the individual and the organization. These forces vary so in their impact that any static approach to wage criteria is misleading. The executive employee's compensation must contain both financial and non-financial elements designed to supply the urge, stimulus, and encouragement to improve profit performance and enhance the growth, expansion, and progress of the company. Since each form of compensation has both advantages and disadvantages they must be carefully weighed if they are to meet the short-term and long-term objectives of both the company and the employee.
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Date Issued: 1973
PURL: http://purl.flvc.org/fcla/dt/13547
Subject Headings: Industrial management, Wage payment systems
Format: Document (PDF)

Title: Development of Human Resources Planning System for Canadian Petrochemical Industry.
Creator: Graham, Henry Allan, Florida Atlantic University, Zimmerer, Thomas W.
Abstract/Description: The primary emphasis of this study was to complete a thorough review of the relevant literature and then based upon the findings, develop a Human Resources Planning System for application within the Canadian petrochemical industry. Special attention was given to those contemporary tools which help make an effective manpower planning system. The developed system was tested using a comprehensive questionnaire to a selected cross-section of companies currently operating in this industry. Key...
Show moreThe primary emphasis of this study was to complete a thorough review of the relevant literature and then based upon the findings, develop a Human Resources Planning System for application within the Canadian petrochemical industry. Special attention was given to those contemporary tools which help make an effective manpower planning system. The developed system was tested using a comprehensive questionnaire to a selected cross-section of companies currently operating in this industry. Key findings of the questionnaire were discussed. It was anticipated that the study would form the basis of a Human Resources Planning System for use within Polysar Limited.
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Date Issued: 1977
PURL: http://purl.flvc.org/fcla/dt/13881
Subject Headings: Manpower policy--Canada, Petroleum chemicals industry--Canada--Management
Format: Document (PDF)

Title: The interrelationships of organizational commitment, trust and participatory decision-making practices in public organizations.
Creator: Nyhan, Ronald C., Florida Atlantic University, Martin, Lawrence L.
Abstract/Description: This research study seeks to link empirically organizational commitment, trust and participatory decision making (PDM) practices and test their interrelationships. The research uses the Meyer & Allen (1984) Affective Commitment and Continuance Commitment Scale (ACCS) to measure organizational commitment and develops new scales to measure trust and PDM practices. The study hypothesizes multidimensional components for organizational commitment and trust; statistically significant associations...
Show moreThis research study seeks to link empirically organizational commitment, trust and participatory decision making (PDM) practices and test their interrelationships. The research uses the Meyer & Allen (1984) Affective Commitment and Continuance Commitment Scale (ACCS) to measure organizational commitment and develops new scales to measure trust and PDM practices. The study hypothesizes multidimensional components for organizational commitment and trust; statistically significant associations among organizational commitment, trust and PDM practices; and trust as a preceding and intervening variable between PDM practices and organizational commitment. The research uses Pearson correlations, exploratory factor analysis and structural equation modeling to test the hypotheses. The research results support the multidimensionality of organizational commitment and trust; interrelationships among organizational commitment, trust and PDM practices; and the temporal role of trust. However, the research results do not support trust as an intervening variable between PDM practices and organizational commitment. The study concludes with opportunities for future research.
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Date Issued: 1994
PURL: http://purl.flvc.org/fcla/dt/12387
Subject Headings: Management--Employee participation, Organizational effectiveness, Interpersonal relations, Industrial relations
Format: Document (PDF)

Title: The relationship between underwriter experience, excess offering yield and underwriter compensation in the market for corporate debt.
Creator: Jones, Wesley Matthew, Jr., Florida Atlantic University, McDaniel, William R.
Abstract/Description: Contemporary finance theory suggests that the appropriate goal of the management of a corporation should be to maximize the contribution of the shareholder's ownership in the corporation to the shareholder's wealth. A related objective of the firm's management that is consistent with this prime objective should be to minimize the cost of all inputs into the firm's income producing process. This would include minimizing the cost of the capital required to fund the firm's operations. This study...
Show moreContemporary finance theory suggests that the appropriate goal of the management of a corporation should be to maximize the contribution of the shareholder's ownership in the corporation to the shareholder's wealth. A related objective of the firm's management that is consistent with this prime objective should be to minimize the cost of all inputs into the firm's income producing process. This would include minimizing the cost of the capital required to fund the firm's operations. This study examines the cost of debt to firms issuing new debt. Using a sample of new debt issues between 1988 and 1993 drawn from a listing compiled by the Capital Markets Division of the Federal Reserve Board of Governors, this study finds that when underwriters are categorized by recent (last year) experience, the issuing firm's choice of an underwriter does not affect the offering yield required of the issuer in excess of several benchmark yields. Excess yield is tested with respect to 3-month treasury bills, 10-year constant maturity treasury securities, the average contemporary yield on AAA rated corporate bonds, and the average contemporary yield on new corporate issues carrying the same rating. The results do suggest that the issuing firm's choice of underwriter does affect the underwriter spread that the issuer will be charged. The implication of the results to corporate issuers of new debt is that choosing an experienced underwriter (defined in the study as having appeared in the listing of the top ten underwriters of corporate debt reported by Wall Street Journal in the previous year) could lead to reduced overall net interest costs stemming from the reduced underwriter spread.
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Date Issued: 1997
PURL: http://purl.flvc.org/fcla/dt/12521
Subject Headings: Corporate debt, Monetary policy, Industrial management, Investment banking
Format: Document (PDF)

Title: The impact of reputation orientation on marketing strategy formation and performance.
Creator: Goldring, Deborah, College of Business, Department of Marketing
Abstract/Description: This research explores the attitudes held by marketing managers about building their company's corporate reputation, and about the impact of their actions on performance. In an environment of costly brand building, declining customer loyalty, and increasing scrutiny from stakeholders who demand corporate responsibility and transparency, a concern for corporate reputation is increasingly important for everyone in the company, including marketing managers. The marketing literature, however, has...
Show moreThis research explores the attitudes held by marketing managers about building their company's corporate reputation, and about the impact of their actions on performance. In an environment of costly brand building, declining customer loyalty, and increasing scrutiny from stakeholders who demand corporate responsibility and transparency, a concern for corporate reputation is increasingly important for everyone in the company, including marketing managers. The marketing literature, however, has not explored how managers who are concerned about the reputation of their companies can effectively adapt marketing strategy for reputation enhancement. The theoretical justification for this research is grounded in stakeholder theory, dynamic capabilities theory, and strategic choice theory. The study contributes to the marketing strategy literature and the nascent field of stakeholder marketing. It makes a theoretical connection between the corporate-level construct of reputation orientation, and its impact on functional-level decisions about marketing strategy. Reputation orientation is the concern that top management and employees share about their company's commitment to nurturing a positive corporate reputation among key stakeholders. A scale for reputation was conceptually defined and empirically tested (Churchill, 1979). It consists of three dimensions: consciously created corporate identity, internal identity dissemination, and external stakeholder impact. Reputation orientation was found to be a valid and reliable construct that was further tested within the framework of how marketing managers formulate, implement, and evaluate their strategic marketing decisions. This research also tested the impact of stakeholder-conscious marketing strategy on corporate reputation and marketing performance., The results from the empirical research indicate that organizations with a reputation orientation devise and select marketing strategies that focus on the needs and concerns of customers and other key stakeholders. Reputation orientation guides a stakeholder-conscious marketing strategy, such that marketing strategy decisions take into consideration both the impacts on corporate reputation and marketing performance without sacrificing either. The implications for marketing practice is that marketing managers can deliberately choose marketing strategies that build a strong corporate reputation by considering the concerns of customers and other key stakeholders at the earliest stages of marketing strategy formulation.
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Date Issued: 2011
PURL: http://purl.flvc.org/FAU/3357426
Subject Headings: Communication in marketing, Communication in organizations, Corporate image, Management, Business communication, Corporate governance, Industrial management
Format: Document (PDF)

Title: Managerial incentives and auditor pricing: do auditors price risk from CEO incentives?.
Creator: Kannan, Yezen H., Florida Atlantic University, College of Business, School of Accounting
Abstract/Description: I investigate whether and how auditors address the potential risk of CEO incentive pay and CEO incentives from their equity portfolio as an incentive to commit fraud through their pricing decisions. Using an OLS regression model I find that auditors price CEO incentive pay in the post SOX period. Also, auditors price CEOs' non-linear incentives from their holdings of stock options as a fraud risk factor but do not price linear incentives from CEO holding of stock and restricted stock....
Show moreI investigate whether and how auditors address the potential risk of CEO incentive pay and CEO incentives from their equity portfolio as an incentive to commit fraud through their pricing decisions. Using an OLS regression model I find that auditors price CEO incentive pay in the post SOX period. Also, auditors price CEOs' non-linear incentives from their holdings of stock options as a fraud risk factor but do not price linear incentives from CEO holding of stock and restricted stock. Furthermore, auditors consider CEO incentives to manipulate firm performance due to the vested portion of option holdings as a fraud risk factor which is priced, and not the unvested portion of this portfolio. Furthermore, I find evidence to suggest that auditors price CEO opportunity to commit fraud, as well as CEO rationalizing the act of committing fraud, therefore concluding that auditors price all components of the fraud triangle.
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Date Issued: 2009
PURL: http://purl.flvc.org/FAU/210448
Subject Headings: Portfolio management, Incentive awards, Compensation management, Financial services industry, Corrupt practices
Format: Document (PDF)

Title: Managerial reputation and Non-GAAP earnings disclosures.
Creator: Cheng, Yun, Kohlbeck, Mark, Florida Atlantic University, College of Business, School of Accounting
Abstract/Description: I examine how managerial reputation affects the quality of non-GAAP earnings disclosures and how the market reacts to non-GAAP earnings disclosures associated with managerial reputation. Although there was an initial dip in the frequency of non-GAAP earnings disclosures after SOX and Regulation G, the frequency of non-GAAP earnings disclosures has increased in recent years (Brown, Christensen, Elliott and Mergenthaler 2012). Motivated by the efficient contracting theory and managerial...
Show moreI examine how managerial reputation affects the quality of non-GAAP earnings disclosures and how the market reacts to non-GAAP earnings disclosures associated with managerial reputation. Although there was an initial dip in the frequency of non-GAAP earnings disclosures after SOX and Regulation G, the frequency of non-GAAP earnings disclosures has increased in recent years (Brown, Christensen, Elliott and Mergenthaler 2012). Motivated by the efficient contracting theory and managerial reputation incentives, I investigate whether reputable managers are associated with higher quality non-GAAP earnings disclosures. I also investigate whether the market is more responsive to non-GAAP earnings disclosed by reputable managers. Using empirical models modified from prior research, I find that reputable managers are less likely to disclose non-GAAP earnings, which is consistent with the efficient contracting explanation. I also find that reputable managers exclude more recurring items that are related to future operating earnings when they disclose non-GAAP earnings, which is consistent with the rent extraction explanation in prior research. Finally, I find that managerial reputation has an incremental effect on the market reaction and that the market is more responsive to non-GAAP earnings disclosed by reputable managers if the unexpected earnings are positive. The study contributes to both non-GAAP earnings disclosures literature and managerial reputation incentives literature. It also has implications for investors, managers, and regulators.
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Date Issued: 2014
PURL: http://purl.flvc.org/fau/fd/FA00004185, http://purl.flvc.org/fau/fd/FA00004185
Subject Headings: Capital productivity -- Measurement, Disclosure in accounting, Industrial management, Investment analysis, Risk management
Format: Document (PDF)

Title: Entropic Considerations of Efficiency in the West Texas Intermediate Crude Oil Futures Market.
Creator: Sagul, Ryan, Yuhn, Ky-hyang, Florida Atlantic University, College of Business, Department of Economics
Abstract/Description: For the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to...
Show moreFor the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to informational efficiency. The results demonstrate continuously inefficient oil future markets which exhibit decreased informational efficiency during recessionary periods, advocating the adaptive market hypothesis over the efficient market hypothesis.
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Date Issued: 2016
PURL: http://purl.flvc.org/fau/fd/FA00004730, http://purl.flvc.org/fau/fd/FA00004730
Subject Headings: Capital market -- Psychological aspects, Energy industries -- Risk management, Financial risk management -- Mathematical models, Futures, Investment analysis, Petroleum industry and trade -- Economic aspects, Stocks -- Mathematical models
Format: Document (PDF)

Title: Essays on high-tech acquisitions and divestitures.
Creator: Benou, Georgia., Florida Atlantic University, Madura, Jeff
Abstract/Description: Since the early 1990s there has been a substantial increase both in mergers and acquisitions (M&A) as well as in divestitures of high-tech companies. This dissertation examines the takeover and divestiture activity in high-tech markets in an effort to extend our current knowledge regarding high-tech companies. In that context, various firm characteristics and their relation to firm performance are investigated. Furthermore, an attempt is made to examine the role of investment banks and their...
Show moreSince the early 1990s there has been a substantial increase both in mergers and acquisitions (M&A) as well as in divestitures of high-tech companies. This dissertation examines the takeover and divestiture activity in high-tech markets in an effort to extend our current knowledge regarding high-tech companies. In that context, various firm characteristics and their relation to firm performance are investigated. Furthermore, an attempt is made to examine the role of investment banks and their impact---if any---on shareholder wealth. This study finds that for domestic high-tech acquisitions, the higher the level of the target's R&D expenditures, the lower the bidder's announcement period wealth effects. Furthermore, the more MEDIA attention the tech target receives prior to the acquisition the more favorably investors react to news about the acquisition. This finding is common both for domestic and international tech acquisitions. Findings on the role of investment bank advisors vary across the three studies. Essay 1 shows that high-tech acquisitions advised by top-tier investment banks perform worse upon announcement than acquisitions advised by lower-tier investment banks. In Essay 2 the tier of the investment bank advisor makes a difference only during the difficult and uncertain years of the tech downturn time period. Finally, in Essay 3 it is found that sellers benefit from the presence of an investment bank advising the buyer, suggesting that whenever the buyer uses an investment bank, the assets are divested at a high price. However, it is only during the years following the end of the tech-bubble period that buying-firm shareholders reacted less favorably to acquisitions of high-tech divested assets certified by an investment bank.
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Date Issued: 2004
PURL: http://purl.flvc.org/fau/fd/FADT12101
Subject Headings: Corporate divestiture--United States, Consolidation and merger of corporations--Management, High technology industries--Management, Corporations--Finance
Format: Document (PDF)

Title: Investing in commercial hard clam culture: a comprehensive guide to the South Atlantic states.
Creator: Easley, J. E., Jr., Kemp, S., Mahan, W., Manzi, J. J., Oesterling, M., Pomeroy, R., Thunberg, E., Vaughan, David E., Walker, R., Harbor Branch Oceanographic Institute
Date Issued: 1991
PURL: http://purl.flvc.org/FCLA/DT/3351173
Subject Headings: Clam culture, Aquaculture--Management, Aquaculture industry--Handbooks, manuals, etc.
Format: Document (PDF)

Title: Application of reference point theory to merger activity and characteristics.
Creator: Chira, Inga., College of Business, Department of Finance
Abstract/Description: In Essay I, I analyze the impact of the target and bidder reference points on the probability of acquisition under general economic conditions as well as in strong/weak economic periods. I find that the target and the bidder reference points have a significant impact on the probability of a firm becoming a bidder or a target. While the target reference point also has a significant impact on the successful completion of the merger, the bidder reference point does not. In addition, I find that...
Show moreIn Essay I, I analyze the impact of the target and bidder reference points on the probability of acquisition under general economic conditions as well as in strong/weak economic periods. I find that the target and the bidder reference points have a significant impact on the probability of a firm becoming a bidder or a target. While the target reference point also has a significant impact on the successful completion of the merger, the bidder reference point does not. In addition, I find that the target reference point is a significant determinant of management-led buyout mergers, while the bidder reference point has a significant impact on the probability of the bidder launching a hostile bid. In Essay II, I focus on the impact of the target and bidder reference points on the method of payment in the context of what the target seeks, what the bidder offers, and what the two parties use as their final method of payment. The analysis is performed under general economic conditions and in strong/weak economic periods. I find that while the target reference point has a strong impact on the method of payment agreed upon between the two parties, the bidder reference point does not. This is especially important given that the bidder reference point influences the consideration offered by the bidder but does not translate into a significant impact on the final method of payment. In essay III, I examine the impact of bidder reference point on public targets and the impact of bidder and target reference points on private firms. I analyze the aforementioned relationships under different economic conditions. Consistent with the literature on premium and public targets, I find that the target reference point has a strong and positive relationship with the premium paid for private firms. The relationship is stronger in weak economic times., At the same time, I do not find any evidence that the bidder reference point exerts a significant influence on the premium paid for public firms. Interestingly, the relationship between the bidder reference point and the premium paid for private firms is negative and significant.
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Date Issued: 2013
PURL: http://purl.flvc.org/FAU/3360773
Subject Headings: Consolidation and merger of corporations, Market segmentation, Negotiation in business, Industrial management
Format: Document (PDF)

Title: Consequences of real earnings management and corporate governance: evidence from cash holdings.
Creator: Greiner, Adam J., College of Business, School of Accounting
Abstract/Description: I examine the impact of real earnings management (REM) and corporate governance on cash holdings. Extant research documents an increase in both cash holdings and REM activity in recent years and shows that agency conflicts influence both the levels and valuations of cash holdings. Motivated by agency problems of REM and Jensen's (1986) arguments concerning the free cash flow problem, I investigate whether opportunistic asset sales and reductions in discretionary expenditures are associated...
Show moreI examine the impact of real earnings management (REM) and corporate governance on cash holdings. Extant research documents an increase in both cash holdings and REM activity in recent years and shows that agency conflicts influence both the levels and valuations of cash holdings. Motivated by agency problems of REM and Jensen's (1986) arguments concerning the free cash flow problem, I investigate whether opportunistic asset sales and reductions in discretionary expenditures are associated with levels and valuations of cash holdings. Prior research also shows that strong corporate governance mitigates opportunistic earnings management behavior and enhances the valuation of cash holdings. Using empirical models from prior research, I document that REM is positively associated with cash holdings, investors discount cash holdings of high REM firms, and, among high REM firms, valuations of cash holdings of weak corporate governance firms are discounted significantly lower relative to those of strong corporate governance firms. My study unites two lines of research by incorporating agency problems concerning REM with levels and valuations of cash holdings.
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Date Issued: 2013
PURL: http://purl.flvc.org/fcla/dt/3360788
Subject Headings: Econometrics, Corporate governance, Corporations, Corrupt practices, Corporations, Finance, Accounting, Industrial management
Format: Document (PDF)

Title: Three essays on competitive acquisition bids.
Creator: Glambosky, Mina C., College of Business, Department of Finance
Abstract/Description: Many factors contribute to the outcome of an acquisition; these factors arise from both the objective of the target and acquirer. This dissertation focuses on how the bidding strategy, acquirer and target characteristics impact the transaction. The first essay examines how the timing and size of the acquirer's bid for a U.S. target firm impacts their return. I find that successful first and low bid acquirers experience significantly larger returns than successful secondary and non-low bid...
Show moreMany factors contribute to the outcome of an acquisition; these factors arise from both the objective of the target and acquirer. This dissertation focuses on how the bidding strategy, acquirer and target characteristics impact the transaction. The first essay examines how the timing and size of the acquirer's bid for a U.S. target firm impacts their return. I find that successful first and low bid acquirers experience significantly larger returns than successful secondary and non-low bid acquirers. The cross-sectional analysis determines that higher levels of target institutional ownership and acquisitions completed prior to the passage of Sarbanes-Oxley result in reduced returns to the acquirer. In addition, the likelihood of a successful first bid acquirer increases with a revised bid and when the acquirer is both the first and low bid acquirer simultaneously. The likelihood of a successful first bid acquirer decreases as the number of bidders increases and as the bidding process lengthens. I also find that the likelihood of a successful low bid acquirer increases the longer the bidding process. The second essay examines how the timing and size of the acquirer's bid for an international target impacts their return. I find that successful first and low bid acquirers experience insignificant abnormal returns following the acquisition announcement. In addition, the likelihood of a successful first bid acquirer increases when the acquirer and target have similar cultures, with higher levels of target government corruption and when the acquirer is both the first and low bid acquirer simultaneously. The likelihood of a successful low bid acquirer decreases with higher levels of target government corruption. I also examine what factors affect the target premium and find that larger transactions and successful first bid acquirers increase the target premium., Conversely, similar cultures and higher levels of government corruption, rule of law, bureaucracy, expropriation and ethnic tension decrease the premium to the target. Lastly, successful first and low bid acquirers experience statistically larger long run abnormal returns than successful secondary and non-low bid acquirers. The third essay examines how a stake accumulation by a conflicted blockholder influences the target's return. I find that targets experience positive cumulative abnormal returns upon the announcement of the Family, ESOP, Management and High Profile Investor stake accumulation. The cross-sectional analysis determines that privately negotiated transactions reduce the return to the target and that higher levels of stake accumulation are positively related to the target's return. Finally, targets experience negative abnormal long run returns following all four types of stake accumulation.
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Date Issued: 2009
PURL: http://purl.flvc.org/FAU/228768
Subject Headings: Consolidation and merger of corporations, Industrial management, Negotiation in business, Strategic planning
Format: Document (PDF)

Title: Large shareholder heterogeneity: the effect on firms' accounting quality and information asymmetry.
Creator: Trainor, Joseph E., College of Business, School of Accounting
Abstract/Description: I investigate the association between large shareholder heterogeneity and firms' accounting quality and information asymmetry. Specifically, I construct three measures of ownership heterogeneity based on the type, size, and monitoring aggressiveness of large shareholders present in a firm. Applying these three measures of heterogeneity, I examine whether large shareholder heterogeneity is associated with the variation in firms' accounting quality and information asymmetry. I also examine new...
Show moreI investigate the association between large shareholder heterogeneity and firms' accounting quality and information asymmetry. Specifically, I construct three measures of ownership heterogeneity based on the type, size, and monitoring aggressiveness of large shareholders present in a firm. Applying these three measures of heterogeneity, I examine whether large shareholder heterogeneity is associated with the variation in firms' accounting quality and information asymmetry. I also examine new block formations to provide evidence on the consequences of large shareholder investment on firms' accounting quality and information asymmetry. I find that the monitoring aggressiveness of large shareholders is positively associated with firms' accounting quality and information asymmetry. These findings suggest that large aggressive shareholders constrain earnings management, but contribute to firms' overall information asymmetry. Further, using new blockholder data, I find that investments by large aggressive shareholders are positively associated with firms' accounting quality and firms' information asymmetry in the post investment period. This finding provides additional support to my hypotheses that large shareholders play an important role in firms' accounting quality and information asymmetry.
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Date Issued: 2011
PURL: http://purl.flvc.org/FAU/3322515
Subject Headings: Investment analysis, Financial services industry, Organizational effectiveness, Measurement, Total quality management
Format: Document (PDF)

Title: Risk dynamics, growth options, and financial leverage: evidence from mergers and acquisitions.
Creator: Coy, Jeffrey M., College of Business, Department of Finance
Abstract/Description: In essay I, I empirically examine theoretical inferences of real options models regarding the effects of business risk on the pricing of firms engaged in corporate control transactions. This study shows that the risk differential between the merging firms has a significant effect on the risk dynamic of bidding firms around control transactions and that the at-announcement risk dynamic is negatively related to that in the preannouncement period. In addition, the relative size of the target,...
Show moreIn essay I, I empirically examine theoretical inferences of real options models regarding the effects of business risk on the pricing of firms engaged in corporate control transactions. This study shows that the risk differential between the merging firms has a significant effect on the risk dynamic of bidding firms around control transactions and that the at-announcement risk dynamic is negatively related to that in the preannouncement period. In addition, the relative size of the target, the volatility of bidder cash flows, and the relative growth rate of the bidder have significant explanatory power in the cross-section of announcement returns to bidding firm shareholders as does the change in the cost of capital resulting from the transaction. Essay II provides an empirical analysis of a second set of real options models that theoretically examine the dynamics of financial risk around control transactions as well as the link between financial leverage and the probability of acquisition. In addition, I present a comparison of the financial risk dynamics of firms that choose an external growth strategy, through acquisition, and those that pursue an internal growth strategy through capital expenditures that are unrelated to acquisition.
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Date Issued: 2013
PURL: http://purl.flvc.org/fcla/dt/3362323
Subject Headings: Consolidation and merger of corporations, Financial services industry, Mathematical models, Corporations, Finance, Financial risk management
Format: Document (PDF)

Title: PCAOB inspections and audit quality evidence from cross-listed securities.
Creator: Stewart, Errol G.G., College of Business, School of Accounting
Abstract/Description: In the period leading up to the early 2000s there were a series of large company failures attributed at least in part to audit failures. Consequently, the Sarbanes Oxley Act (SOX) was promulgated in July 2002 to restore confidence in public company financial reporting and the work of auditors. The Public Company Accounting Oversight Board (PCAOB) was established by SOX and appointed as the regulator of the accounting firms that audit the financial statements of public companies. The PCAOB is...
Show moreIn the period leading up to the early 2000s there were a series of large company failures attributed at least in part to audit failures. Consequently, the Sarbanes Oxley Act (SOX) was promulgated in July 2002 to restore confidence in public company financial reporting and the work of auditors. The Public Company Accounting Oversight Board (PCAOB) was established by SOX and appointed as the regulator of the accounting firms that audit the financial statements of public companies. The PCAOB is required to routinely inspect the operations of these accounting firms in an effort to satisfy its mandate to bring about an improvement in the audit quality of these companies. These inspections extend to the non-US auditors of companies that are cross-listed in the US. Despite various mainly US studies on inspections, there is limited evidence that the inspections have resulted in improved audit quality. ... I examine companies whose securities are cross-listed in the US in the periods before and after inspection in order to provide evidence on the benefits of inspections. I find some evidence that inspections improve the audit quality of companies that are cross-listed in the US. This suggests the audit quality of companies from countries that do not permit inspections may be positively affected should inspections be permitted.
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Date Issued: 2012
PURL: http://purl.flvc.org/FAU/3356016
Subject Headings: Auditing, Standards, Financial services industry, Management, Corporate governance, Law and legislation, Corporations, Auditing, Standards
Format: Document (PDF)

FAU Theses and Dissertations (34)	+ -
FAU Graduate Student Research (1)	+ -
HBOI Faculty Contributions (1)	+ -
Political & Rights Issues & Social Movements Collection (1)	+ -

Industrial management (11)	+ -
Corporate governance (6)	+ -
Corporations (5)	+ -
Financial services industry (5)	+ -
Management (4)	+ -

Consolidation and merger of corporations (3)	+ -
Investment analysis (3)	+ -
Law and legislation (3)	+ -
Auditing (2)	+ -
Communication in organizations (2)	+ -
Corporate culture (2)	+ -
Corrupt practices (2)	+ -
Disclosure in accounting (2)	+ -
Finance (2)	+ -
Financial services industry -- Management (2)	+ -
Negotiation in business (2)	+ -
Organizational effectiveness (2)	+ -
Public Company Accounting Oversight Board (2)	+ -
Standards (2)	+ -
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