Employment at the U.S.-based enterprises of foreign companies

2017 ◽  
Vol 16 (7) ◽  
pp. 1307-1316
Author(s):  
N.E. Petrovskaya ◽  
Keyword(s):  
Foreign Companies ◽  
The U.S

U.S.-Listed Foreign Companies' Choice of a U.S.-Based versus Home Country-Based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality

2015 ◽  
Vol 29 (3) ◽  
pp. 631-666 ◽  
Author(s):  
Sharad C. Asthana ◽  
K. K. Raman ◽  
Hongkang Xu
Keyword(s):  
Financial Reporting ◽  
Home Country ◽  
Earnings Quality ◽  
Audit Fees ◽  
Foreign Companies ◽  
Two Factors ◽  
Just Price ◽  
Reporting Environment ◽  
The U.S

SYNOPSIS We examine why U.S.-listed foreign companies choose to have a U.S.-based (rather than home country-based) Big N firm as their principal auditor for SEC reporting purposes and the effects of that choice for audit fees and earnings quality. We find that the likelihood of the Big N principal auditor being U.S.-based is decreasing in client size and the level of investor protection in the home country, and increasing in the proportion of income earned outside the home country. We also find compelling evidence that U.S.-based Big N auditors are associated with higher-quality earnings (albeit for a higher fee), despite two factors—the greater distance between the U.S.-based (vis-à-vis home country-based) Big N auditor and the client, and the likelihood that much of the audit work is done outside the U.S.—which potentially could lower the earnings quality of the U.S.-listed foreign client when the Big N principal auditor is U.S.-based. Overall, our study suggests that the higher fees associated with a U.S.-based Big N principal auditor is not just price protection; rather, U.S.-based Big N principal auditors are also improving the financial reporting environment by reporting higher-quality audited earnings for their U.S.-listed foreign clients. JEL Classifications: L11; L15; M42.

The Cross-Listing and Cross-Trading of German Companies in the U.S. and of Foreign Companies in Germany

2015 ◽  
Vol 27 (4) ◽  
pp. 58-67 ◽  
Author(s):  
Wolfgang Bessler ◽  
Fred R. Kaen ◽  
Colin Schneck
Keyword(s):  
Foreign Companies ◽  
Cross Listing ◽  
The Cross ◽  
The U.S

scholarly journals THE SPILLOVER OF THE COFFEE: MATERIAL MISSTATEMENTS AT (UN) LUCKIN COFFEE INC.

2021 ◽  
Vol 5 (2) ◽  
pp. 106-114
Author(s):  
Gagan Kukreja
Keyword(s):  
Stock Exchange ◽  
Jel Classification ◽  
Securities And Exchange Commission ◽  
Financial Data ◽  
Annual Reports ◽  
Ethical Standards ◽  
Foreign Companies ◽  
Chinese Company ◽  
Available Information ◽  
The U.S

The research investigates alleged material misstatements in the financials of Luckin Coffee, a Chinese company listed in NASDAQ. The research is exploratory and based on publicly available information. The financial data has been obtained from their quarterly and annual reports submitted to Securities and Exchange Commission. The research shows the alleged corruption by inflating sales and profits by C-suite executives of the company. Nevertheless, before doing so, what failures in corporate governance led to this crisis? The admission of such material misstatements resulted in a massive loss to the investors and shaken the investment community’s trust once again. The research tried to determine what kind of audit procedures should have been implemented to earlier detection of fraud? What should have been done to protect stakeholders? What extra measures should the U.S. stock exchange take into consideration before listing foreign companies? What kind of ethical standards must be taught to the students/future executives to avoid such material misstatements? How can accounting bodies address such material misstatements? How can audit procedures be improved? This research will facilitate the policymakers, accounting and auditing regulators, board and various other stakeholders to deter, detect and mitigate such financial material misstatements and offers recommendations. JEL Classification Codes: M41, M42, M48, M148.

11 Class Action Arbitration

2016 ◽  
Author(s):  
Baker William H
Keyword(s):  
United States ◽  
New York ◽  
Supreme Court ◽  
The United States ◽  
Class Action ◽  
Court Decisions ◽  
Employment Contracts ◽  
Foreign Companies ◽  
The U.S ◽  
Fine Print

This chapter outlines the practices relevant to class arbitration, a relatively recent phenomenon in the United States. Most of these arbitrations are exclusively between domestic parties and often arise out of arbitration clauses inserted in the fine print of consumer or employment contracts. In some cases, however, foreign companies have entered into what may have appeared to be simple, single-party arbitration clauses, only to find themselves embroiled in class action arbitrations. In fact, it behooves international arbitration practitioners to be aware of class action arbitration law and procedures in New York and in the United States generally. The chapter thus enumerates significant developments in class arbitration law in the U.S. in recent years, which have come about due to a series of U.S. Supreme Court decisions.

scholarly journals Antidumping Charges Against China: A Comprehensive Analysis Of Proponents, Opponents, And Its Impact On U.S. Companies

2011 ◽  
Vol 3 (6) ◽  
Author(s):  
Ki Hee Kim ◽  
Cho Kin Leung ◽  
Vincent J Vicari
Keyword(s):  
Direct Investment ◽  
High Technology ◽  
Comprehensive Analysis ◽  
Trade Surplus ◽  
Foreign Companies ◽  
Pros And Cons ◽  
Foreign Governments ◽  
Antidumping Laws ◽  
Foreign Competitors ◽  
The U.S

Few nations have changed as fastor as Dramaticallyas China has since the 1970s. The worlds most populous nation has radically liberalized its economy and gone from producing low-quality and simple export to sophisticated high- technology goods, while nurturing a vibrant private sector and attracting nearly $500 billion in foreign direct investment (FDI). Chinas total exports grew eightfoldto over $380 billionbetween 1990 and 2003. Chinas share of global exports will reach 6 percent in 2003, compared to 3.9 percent in 2000. The U.S. has lost about 2.6 million manufacturing jobs since 2001. While private economists say that most of he job losses reflected improved productivity at U.S. factories, many in Congress and within industry say China blame China. Chinas soaring economy has turned it into manufacturing juggernaut that maintains the largest trade surplus of many nations, including the U.S. U.S. law provides for the protection of American manufacturers form unfair foreign trade practices. If U.S. companies believe that foreign competitors are dumping merchandise in the U.S. or are being subsidized by foreign governments, they may file for relief with the U.S. Department of Commerces International Trade Administration and the U.S. Trade Commission. Antidumping levies duties on goods dumped on the U.S. market. One of the most contested issues is whether U.S. trade laws, in particular the antidumping laws, should be open to negotiation. It should for the benefits of U.S. customers and U.S. businesses. This research will focus on dumping charges against China and evaluate pros and cons of U.S. antidumping laws against foreign companies and its impact on U.S. consumers and businesses.

scholarly journals THE PETROBRAS CORRUPTION SCANDAL: COULD THE COMPANY BE PUNISHED BY FCPA ANTI-BRIBERY PROVISIONS?

2016 ◽  
Vol 3 (1) ◽  
pp. 293
Author(s):  
Luis Henrique Monteiro Brecci ◽  
João Glicério De Oliveira Filho
Keyword(s):  
United States ◽  
The United States ◽  
Foreign Markets ◽  
Foreign Corrupt Practices Act ◽  
Corporate Compliance ◽  
Foreign Companies ◽  
The Past ◽  
Corruption Case ◽  
Scope Of Application ◽  
The U.S

Recent news are broadcasting one of Brazil’s greatest corruption scandal involving the oil giant Petrobras, along with various other Brazilian and foreign companies. Petrobras’ case turned corporate compliance into a common topic among Brazilian business players in the past year. As most Brazilian companies still take first steps towards entering foreign markets, the ongoing investigations of U.S. Government against Petrobras have raised general awareness on the importance of complying with foreign jurisdictions.Among various legislations that must be observed by foreign companies investing in the United States, the Foreign Corrupt Practices Act is undoubtedly one of the most important. The FCPA has a broad scope of application, as the concept of corrupt practices is very extensive and many foreign companies with business in the U.S. are subjected to its provisions. Furthermore, it encompasses a dangerous combination of high penalties and Government’s rather aggressive prosecution.It is with that in mind that we shall analyze the complex corruption case within Petrobras and its implications in regard of the FCPA. This Article (i) provides an overview of the Petrobras corruption scandal and the principal FCPA anti-bribery provisions, elements and requisites and (ii) analyzes Petrobras’ peculiarities and if it may be considered punishable within the scope of FCPA anti-bribery provisions.

scholarly journals The Sec And Foreign Companies—A Balance Of Competing Interests

2009 ◽  
Vol 71 (3) ◽  
Author(s):  
Kenneth B. Davis
Keyword(s):  
Financial Crisis ◽  
Competitive Advantage ◽  
Capital Markets ◽  
Policy Debate ◽  
Securities Law ◽  
Foreign Companies ◽  
Competing Interests ◽  
Basic Orientation ◽  
Recent Financial Crisis ◽  
The U.S

This Article examines the rules governing foreign companies that seek to raise capital from U.S. investors or have their securities traded in the U.S. markets. This may seem too remote a corner of securities law’s realm for a general conference on the SEC’s “past, present, and future.” Bear in mind, however, that this otherwise remote corner gave rise to the most visible and vigorous policy debate over the basic orientation and direction of U.S. securities law in the months preceding the recent financial crisis: the debate over whether the strictness of U.S. regulation caused our capital markets to lose some of their competitive advantage.

scholarly journals The Role and Impact of International Financial Reporting Standards on Cross-Border Financing for a Systemically Important Bank from Macroeconomic Perspectives—Technical Review Research Study

2020 ◽  
Vol 2 (3) ◽  
pp. p74
Author(s):  
Karina Kasztelnik Ph.D. MBA, CPA, CTP
Keyword(s):  
United States ◽  
Financial Reporting ◽  
Stock Exchange ◽  
The United States ◽  
Research Review ◽  
Accounting Disclosure ◽  
Financial Reporting Standards ◽  
Foreign Companies ◽  
The World ◽  
The U.S

The author of the study note that the extensiveness of a country’s international accounting disclosure requirements is a good for the overall disclosure extensiveness of the exchange in that foreign country, which, in turn, is bigly correlated with the cost of listing such as United States, Canada, United Kingdom, The Netherlands, France, Japan, and Germany. The United States and the national over-the-counter market have enjoyed significant growth in foreign listing. In absolute terms, the U.S. numbers are even more impressive. As of December 2019, the 1,420 foreign companies whose shares are traded in the United States reparent the largest amount of foreign listings of any major stock exchange in the world., which reflects, at least in part, recognition by multinational entities that the U.S. securities market represents the most efficient market in the world, thus translating into a lower cost of capital for issuer of securities. This technical research review article may support both the public trade companies and policymakers around the World.

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