The Spillover Effects of MD&A Disclosures for Real Investment: The Role of Industry Competition

2019 ◽  
Author(s):  
Artyom Durnev ◽  
Claudine Mangen
Keyword(s):  
Spillover Effects ◽  
Industry Competition ◽  
Real Investment

Democracy and deforestation: The role of spillover effects

2021 ◽  
Vol 125 ◽  
pp. 102398
Author(s):  
Michael Cary ◽  
Festus Victor Bekun
Keyword(s):  
Spillover Effects

Political Leadership Performance in a Mediatized World

2020 ◽  
pp. 111-132
Author(s):  
Eva Sørensen
Keyword(s):  
Leadership Styles ◽  
Leadership Style ◽  
Political Communication ◽  
Political Leadership ◽  
Active Role ◽  
Spillover Effects ◽  
The Other ◽  
Leadership Performance ◽  
The Media

Political communication is becoming increasingly mediatized. Mediatization refers both to a gradual increase in the role of the media in political communication and the spillover effects that this increase has had on the way politics takes place and is organized and relatedly, the performance of political leadership. Of particular importance for political leadership styles is the surge of drama politics, the fragmentation of political communication and the active role of citizens in political communication. Chapter 9’s typology of democratic political leadership performance lays the ground for an analysis of how paternalist, populist, engaged, and interactive political leadership styles are affected by the increased mediatization. The analysis suggests that an interactive political leadership style is more viable than the other three political leadership styles to patterns of mediatization in the age of governance.

Urban–rural income disparity and inbound tourism: Spatial evidence from China

2019 ◽  
Vol 26 (7) ◽  
pp. 1231-1247 ◽  
Author(s):  
Wenming Shi ◽  
Meifeng Luo ◽  
Mengjie Jin ◽  
Seu Keow Cheng ◽  
Kevin X. Li
Keyword(s):  
Spatial Econometrics ◽  
National Level ◽  
Spillover Effects ◽  
Western Region ◽  
Income Disparity ◽  
Rural Income ◽  
Inbound Tourism ◽  
Urban Rural ◽  
The Western Region

The challenging concern regarding how the benefits of inbound tourism can be evenly distributed, especially among urban and rural individuals, has received considerable attention in China. To address this concern, a spatial econometrics approach is used to estimate the spillover effects of inbound tourism on urban–rural income disparity (URID). An empirical analysis using the spatial Durbin model was conducted for 31 Chinese provinces covering the period from 2003 to 2017. Our findings suggest that at the national level, local inbound tourism significantly reduces the local URID, while neighboring inbound tourism significantly increases the local URID. At the regional level, the role of inbound tourism in reducing the local URID is only detected in the western region. The spillover effects of inbound tourism are positive and significant in the eastern/northeastern region but negative in the western region. In general, these findings provide insights into the importance of interregional tourism policies and strategies for inbound tourism development in China.

Mitigating Negative Spillovers from Categorization of Foreign-Listed Firms: The Role of Host-Country Independent Directors

2019 ◽  
Vol 15 (4) ◽  
pp. 773-807
Author(s):  
Eugene Kang ◽  
Asda Chintakananda
Keyword(s):  
Financial Reporting ◽  
Host Country ◽  
Home Country ◽  
Stock Exchange ◽  
Spillover Effects ◽  
Independent Directors ◽  
Fiduciary Duties ◽  
Listed Firms ◽  
Or Task

ABSTRACTThis study examines how cognitive categorization by host-country investors give rise to negative spillovers among host-country foreign-listed firms from the same home country when one of these foreign-listed firms discloses a financial reporting irregularity. This study further examines how attributes of host-country independent directors mitigate such negative spillover effects through signaling fulfilment of their fiduciary duties. Our results based on Chinese foreign-listed firms on the Singapore Stock Exchange from 2007–2014 reveal that host-country independent directors increase spillover effects among foreign-listed Chinese firms from financial reporting irregularities. However, such increase is attenuated when these directors signal fulfilment of their fiduciary duties through home-country, industry, or task-related experiences, and the observed mitigating effect is stronger when they possess a combination of these experiences.

Underpricing, Risk Management, Hot Issue and Crowding out Effects: Evidence From the Australian Resources Sector Initial Public Offerings

2010 ◽  
Vol 13 (03) ◽  
pp. 333-361 ◽  
Author(s):  
Hoa Nguyen ◽  
William Dimovski ◽  
Robert Brooks
Keyword(s):  
Risk Management ◽  
Information Content ◽  
Initial Public Offerings ◽  
Crowding Out ◽  
Competition Effect ◽  
Public Offerings ◽  
The Poor ◽  
Industry Competition ◽  
Resource Sector

The main purpose of this paper is to explore the role of risk management, speculative industry competition effect and hot issue markets. We used a sample of 260 initial public offerings (IPOs) in the Australian resource sector for the 1994–2004 period to test the underpricing effect. We do not find any evidence that risk management can reduce the uncertainty relating to the new issue and hence alleviate the extent of underpricing. A plausible explanation for this lack of evidence is the poor information content of publicly available disclosures regarding risk management activities of IPO firms. We further provide evidence that the underpricing returns for resources IPOs are not impacted upon by the strength of alternative speculative IPO markets. We also show that the degree of underpricing adjusts to both market return in the preceding three months and the average underpricing of resources IPOs in the 12 month period leading to the float which offers an explanation to the hot issue effect observed in the IPO market.

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