This thesis comprises of three essays. The first essay is titled ‘Do Acquiring Firms Manage Earnings?’ and is co-authored with Professor Anand M. Vijh. The second essay is titled ‘Do Firms Have a Target Leverage? Evidence from Credit Markets’ and is joint work with Professors Anand M. Vijh and Redouane Elkamhi. The third is essay is single authored and titled ‘Bondholder Wealth Effects of Fraud...

Purpose This paper compares the impact of leadership behaviours on discretionary power, and well-being, affective commitment police officers from Italy United Kingdom (UK). In contrast to Italy, UK is an example a core-New Public Management (NPM) country that has implemented reforms, in turn, changing management administration public organizations. Consequently, it expected there will be signif...

This study presents the first targeted examination of changes in financial reporting surrounding the appointment of both new CEOs and Principal Financial Officers (PFOs). We identify companies that appoint new CEOs and PFOs in the period 1995 to 2002 and find that the change in discretionary accruals is negative and significant in the year of hire (from t-1 to t) for firms appointing a new CEO ...

BACKGROUND Improving the cost-effectiveness of health care requires an understanding of the genesis of health care costs and in particular the sources of cost variation. Little is known about how multiple physicians, caring collaboratively for patients, contribute to costs. OBJECTIVE To explore the effect of collaborative care by physicians on variation in discretionary costs in an intensive ...

Prior research has investigated the association between executive equity compensation and earnings management but the evidence is not conclusive. We investigate this question using the quantile regression approach which allows the coefficient on the independent variable (equity compensation) to shift across the distribution of the dependent variable (earnings management). Based on a sample of 1...

Most power relationships between organizations and stakeholders are episodic circuits of power whereby resource dependence is exacerbated by prohibitive rules. Such relationships are usually constraining rather than empowering and generate resistance and reluctant compliance rather than co-operation and creativity. Clegg’s (1989) concept of facilitative circuits of power, however, suggests that...

D iscussions of rules vs. discretion have occupied a central place in the analysis of macroeconomic policies in dynamic models. Costas Azariadis and Vincenzo Galasso have presented a new model that shows how a discretionary policy regime can lead to a more volatile fiscal policy than one pursued under a constitutional rule. They set up a simple fiscal policy story and examine the potential for ...