ORCID Profile
0000-0001-6726-8018
Current Organisations
University of South Australia
,
University of Iowa
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Publisher: Wiley
Date: 06-2001
Publisher: Elsevier BV
Date: 09-2003
Publisher: Elsevier BV
Date: 12-2021
Publisher: Informa UK Limited
Date: 02-2013
Publisher: Wiley
Date: 15-05-2013
Abstract: We herein report detailed investigations into the interaction of Lewis acidic fluoroboranes, for ex le BF2Pf (Pf=perfluorophenyl) and BF2Ar(F) (Ar(F)=3,5-bis(trifluoromethyl)phenyl), with Lewis basic platinum complexes such as [Pt(PEt3)3] and [Pt(PCy3)2] (Cy=cyclohexyl). Two presumed Lewis adducts could be identified in solution and corresponding secondary products of these Lewis adducts were characterized in the solid state. Furthermore, the concept of frustrated Lewis pairs (FLP) was applied to the activation of ethene in the system [Pt(BPf3)(CH2CH2)(dcpp)] (dcpp=1,3-bis(dicyclohexylphosphino)propane Pf=perfluorophenyl). Finally, DFT calculations were performed to determine the interaction between the platinum-centered Lewis bases and the boron-centered Lewis acids. Additionally, several possible mechanisms for the oxidative addition of the boranes BF3, BCl3, and BF2Ar(F) to the model complex [Pt(PMe3)2] are presented.
Publisher: Emerald (MCB UP )
Date: 2004
Publisher: SAGE Publications
Date: 09-09-2021
Abstract: In this article, we investigate whether there is a trade-off between corporate social responsibility (CSR) and mergers and acquisitions (M& A) investments. Consistent with conflict resolution view of stakeholder theory, our results document a negative relationship between CSR scores and M& A activity. We further show that the tendency of CSR firms’ low engagements in M& A investmen ts is valid only for firms with no slack. We also find that firms choosing to trade off pay a lower bid premium to targets to create value for acquiring shareholders. These findings are robust to several alternative proxies and endogeneity tests. JEL Classification: G32, G34
Publisher: Emerald
Date: 19-10-2010
DOI: 10.1108/03074351011088414
Abstract: The purpose of this paper is to perform an exploratory study of depositary receipts (DRs). In addition to the geographical analysis it test several hypothesis linked to various DRs’ issues. Using the publicly available The Bank of New York's (now The Bank of New York Mellon) database, descriptive statistics and logit analysis were applied. It is evident that smaller firms issue DRs in lower level programs apparently due to the considerable cost barriers firms with larger capital expenditure plans prefer to issue under level III or Rule 144A DR programs and higher quality firms, proxied by lower leverage, are likely to make higher‐level DR issues. The database is updated quite frequently and departures from enclosed findings are likely to occur in the years to come. Management interested in issuing DRs may become acquainted with the pattern exercised by both small and large companies, or by companies with specific capital structures. In this manner the listing demonstrates less uncertainty as long as it is possible for managers to ascertain and compare own companies’ features. The paper adds to the current literature regarding in‐depth analysis of the DRs market.
Publisher: SAGE Publications India Pvt Ltd
Date: 2008
Publisher: Elsevier
Date: 2016
Publisher: American Scientific Publishers
Date: 09-2017
Publisher: SAGE Publications
Date: 13-03-2017
Abstract: We examine the issuance choice across rights issues of equity, unit offerings, and standalone warrants and investigate the market reactions to these issue types. We find that agency costs, growth opportunities, and current funding needs relative to assets in place are prime drivers of the type of equity issuance choice. Managers use quality signals such as underpricing, underwriting status, and the proportion of funds raised by exercising warrants in determining the features of the warrant issue. Furthermore, we document that the market reacts more favorably to standalone warrants issues than units and equity during the rights offering period.
Publisher: World Scientific Pub Co Pte Ltd
Date: 28-02-2016
DOI: 10.1142/S021759081640004X
Abstract: This study examines the impact of natural disasters on stock market returns and on industries that are likely to be affected by such disasters. We find that different natural disasters have different effects on stock markets and industries. Our evidence suggests that while earthquakes, hurricanes and tornadoes could negatively affect market returns several weeks after the events, other disasters such as floods, tsunamis and volcanic eruptions have limited impact on stock markets. We also find that construction and materials industry is generally positively affected by natural disasters but non-life and travel industries are likely to suffer negative effects.
Publisher: Elsevier BV
Date: 12-2012
Publisher: World Scientific Pub Co Pte Ltd
Date: 26-05-2016
DOI: 10.1142/S0217590816500053
Abstract: Since there is a general perception that the defence industry is more susceptible to corruption compared to other sectors, using a unique database provided by Transparency International (TI), we examine the role of firm level antecedents on firm level corruption risk in the defence industry. We find that larger firms have lower levels of firm level corruption risk. Managerial shareholding is associated with higher levels of corruption risk. Firms that voluntarily disclose more information regarding their corruption control systems tend to have lower levels of corruption risk. Finally, listed firms also have lower levels of firm level corruption risk. We find that the “listing effect” is stronger among firms in financially developed countries ostensibly due to the better scrutiny and monitoring by market participants. In our analysis, we control for country level variables such as a composite index of government effectiveness in controlling defence industry corruption.
Publisher: Emerald
Date: 21-09-2012
DOI: 10.1108/17439131211261279
Abstract: The purpose of this paper is to introduce a model to measure foreign exchange (FX) rate volatility accurately. The FX rate volatility forecasting is a crucial endeavour in financial markets and has gained the attention of researchers and practitioners over the last several decades. The implied volatility (IV) measure is widely believed to be the best measure of exchange rate volatility. Despite its widespread usage, the IV approach suffers from an obvious chicken‐egg problem: obtaining an unbiased IV requires the options to be priced correctly and calculating option prices accurately requires an unbiased IV. The authors contribute to the literature by developing a new model for FX rate volatility – the “moneyness volatility (MV)”. This approach is based on measuring the variability of forward‐looking “moneyness” rather than use of options price. To assess volatility forecasting performance of MV against IV, the in‐s le and out‐of‐s le tests are involved using the F‐test, Granger‐Newbold test and Diebold‐Mariano framework. The MV model outperforms the IV in FX rate volatility forecasting ability in both in‐s le and out‐of‐s le tests. The F‐test, Granger‐Newbold test and Diebold‐Mariano test results consistently reveal that MV outperforms IV in estimating as well as forecasting exchange rate volatility for six major currency options. Furthermore, in Mincer‐Zarnowitz regressions, MV outperforms IV and time‐series models in predicting future volatility. The authors’ pioneering approach in modeling exchange rate volatility has far‐reaching implications for academicians, professional traders, and financial risk analysts and managers.
Publisher: Elsevier BV
Date: 04-2018
Publisher: Elsevier BV
Date: 04-2018
Publisher: World Scientific Pub Co Pte Lt
Date: 06-08-2020
DOI: 10.1142/S0219091520500241
Abstract: Recent studies report that open-market repurchase announcements have become less attractive to stock investors. This study documents that lower announcement returns are attributed to subsequent repurchase announcements, which have increased in number in recent years. Using the real-option-to-delay framework proposed by Ikenberry, D and T Vermaelen (1996). The option to repurchase stock. Financial Management, 25, 9–24, this study finds evidence consistent with decreasing value of the option to repurchase shares prior to subsequent open-market repurchase announcements. This explains the decreasing market reactions to such announcements.
Publisher: Wiley
Date: 12-09-2018
DOI: 10.1111/IRFI.12231
Publisher: Elsevier BV
Date: 10-2005
Publisher: Virtus Interpress
Date: 2007
DOI: 10.22495/COCV4I3C2P6
Abstract: Despite the widespread criticism against double taxation of idends, most countries follow the policy of taxing the same income twice – once when the corporations earn it and a second time when shareholders receive it. Critics of the double taxation policy clamor for its abolition citing the economic inefficiencies it engenders. In 1997, the Indian government eliminated double taxation of idends by exempting idend income from personal taxes but requiring the firms to pay a 10% tax on the amount of idend distributed. Using this rule change as a natural experiment, we examine the impact of this rule change on firm valuation. We show that elimination of double taxation on idends is not unambiguously beneficial to the stockholders of the firm. We find that tax status and ownership structure play a significant role in explaining the direction of observed changes in valuation. An interesting finding of this paper is that shareholders seem to value visibility. Visible firms are subject to the disciplining effect of more stringent disclosures in the financial press. We do find pervasive evidence that firms increased their idends subsequent to rule change. We however, do not find any association between the change in idends and ownership structure
Publisher: Elsevier BV
Date: 2008
Publisher: Elsevier BV
Date: 10-2019
Publisher: Emerald
Date: 03-2005
DOI: 10.1108/13527600510797953
Abstract: Focuses on business investments by Singaporean Chinese in Mainland China vis‐à‐vis the impact of the knowledge of the Chinese language, culture etc. on business success. The literature has shown four critical factors namely culture, guanxi, negotiation and communication as important facilitators for business investments in China. Chinese language, however, further moderates their influence on business investments. To explore the association between the Chinese language and the four critical factors, a s le t‐test was conducted. Additionally, the profile of Singaporean business investors in Mainland China was surveyed. The research provices insights for Singaporean and global business investors who are looking at Mainland China as a potential business opportunity.
Publisher: SAGE Publications
Date: 10-2016
Abstract: Agriculture is the trade of rural Australians and managing weather risk have implications for Australian demographics. Consequently, we looked into the strategies farmers adopted to manage their revenue risk due to drought with a focus on wheat farmers. The prospects of managing the challenges of indemnity-based insurance with rainfall index insurance were discussed. We established the relationship between yield and cumulative standardized precipitation indices and concluded that a strong relationship between the rainfall index and yield does not necessarily lead to high hedging efficiency. The hedging efficiency of the product was analyzed using the mean root square loss, conditional tail expectation and certainty equivalence of revenue while the spatial and temporal nature of the risk were captured with loss ratios. It was observed that the inverse relationship between price and yield offsets some risks and reduces the efficiency of weather hedges. Differences were observed in the hedging efficiency across locations and efficiency was noted to be dependent on the methodology adopted. The results from the loss ratio analysis showed that pooling insurance contracts reduced risk to the insurer. We concluded that other variables would have to be taken into consideration in order to make the design of weather-index insurance more robust and that tax incentives on insurance premium would motivate farmers to be profitable.
Publisher: IEEE
Date: 04-2011
Publisher: SAGE Publications India Pvt Ltd
Date: 2008
Publisher: Elsevier BV
Date: 03-2023
Publisher: MDPI AG
Date: 07-08-2020
DOI: 10.3390/JRFM13080176
Abstract: Recent academic studies document that open market share repurchase announcements in the United States generate significantly lower returns than those reported in earlier studies. We find that the lower announcement return is associated with an increasing number of subsequent announcements in the more recent periods. Although the announcement period return from the initial announcement is positive, subsequent announcement returns are significantly decreasing. Further, we find that the decreasing returns of subsequent announcements are attributed to firms with negative past repurchase announcement returns. Our multivariate regression test results are consistent with the notion that the decreasing subsequent repurchase announcement returns are driven by hubris-endowed managers.
Publisher: WORLD SCIENTIFIC
Date: 11-2010
Publisher: Springer Science and Business Media LLC
Date: 03-2005
Publisher: SAGE Publications India Pvt Ltd
Date: 2008
Publisher: Elsevier BV
Date: 09-2018
Publisher: SAGE Publications India Pvt Ltd
Date: 2008
Publisher: SAGE Publications India Pvt Ltd
Date: 2008
Publisher: Wiley
Date: 20-01-2012
Publisher: Emerald
Date: 12-2005
DOI: 10.1108/03074350510770035
Abstract: This article questions the validity of regression models when high correlations exist between independent variables and presents the application of VAR as an alternative technique through the comparison of two groups of selected stocks that represent components of Dow Jones and S& P 500 indices, respectively. The results indicate that panel regressions face serious specification problems, while the impulse response function underlines that the shock to the volume innovation has a mostly positive impact on the volatility in both S& P and Dow Jones s le, but the tendency cannot be easily accounted for. The positive impact of volatility shocks on the inter market depth is rather unexpected, but it may be associated with an increase in volume that does not enormously enhance the spread up to the point where it will be too costly for market‐makers to trade, and accordingly, quickly narrows the spread to absorb new liquidity influx in the market. In the Granger causality tests Dow Jones stocks with comparatively larger average volume depth values and price levels provide slightly stronger relations between analyzed variables compared to the stocks included in the S& P s le.
Publisher: Elsevier BV
Date: 04-2022
Publisher: Springer Berlin Heidelberg
Date: 2009
Publisher: Elsevier BV
Date: 06-2020
Publisher: Springer Science and Business Media LLC
Date: 09-2005
Publisher: Springer Berlin Heidelberg
Date: 2009
Publisher: SAGE Publications
Date: 03-2013
Abstract: We analyse the impact of firm-level corporate governance practices on the riskiness of a firm’s stock returns in a setting that can be considered as less conducive to managerial risk-taking. Our empirical evidence, based on a comprehensive s le of New Zealand firms, shows that firms with large boards are associated with lower levels of risk-taking, ceteris paribus. Furthermore, our results indicate that multiple large shareholders facilitate higher levels of risk-taking by the firm. Finally, our results also show that concentrated shareholdings of inside directors have a negative relation to risk-taking. Our findings are robust to controls for the three potential sources of endogeneity. Since prior work documents results consistent with the view that institutional and market environments largely determine governance outcomes, our work has implications for managers, investors and policy makers, particularly in less developed capital markets with weaker corporate takeover regimes and less performance-oriented managerial compensation.
Publisher: Springer Berlin Heidelberg
Date: 2009
Publisher: Elsevier BV
Date: 02-2013
Publisher: Elsevier BV
Date: 10-2011
Publisher: SAGE Publications India Pvt Ltd
Date: 2008
Publisher: Elsevier BV
Date: 12-2015
Publisher: SAGE Publications India Pvt Ltd
Date: 2008
Publisher: Elsevier BV
Date: 03-2015
Publisher: Elsevier BV
Date: 12-2018
Publisher: Elsevier BV
Date: 09-2021
Publisher: Emerald
Date: 26-08-2014
DOI: 10.1108/IJMF-08-2012-0090
Abstract: – The purpose of this paper is to analyze the impact of firm-level corporate governance practices on the riskiness of a firm's stock returns. – The authors constructed an index of governance quality incorporating best practices stipulated by regulators. The authors employed regression analysis. – The empirical evidence, using an index of corporate governance, shows that well-governed New Zealand firms experience lower levels of risk, ceteris paribus. In particular, the results indicate that corporate governance aspects such as board composition, shareholder rights, and disclosure practices are associated with lower levels of risk. – A limitation of the study is that the corporate governance index constructed is somewhat arbitrary and due to limitation of data availability the authors may have excluded some factors such as share trading policy of directors and policies regarding provision of non-auditing services by auditors. The research supports the view that institutional context could have an impact on governance outcomes. The work has three implications for managers, investors, and policy makers. First, the results imply that well-governed firms have lower idiosyncratic risk and that this reduction is most likely due to the reduction in agency costs and information risk. Second, in the absence of features like an active corporate control market and stock option based managerial compensation, managers have little incentives to take on risky projects that increase firm value. Third, the results suggest that the managers of well-governed firms are not more risk averse with respect to investment decisions compared to poorly governed firms. – The work has practical implications for managers, investors, and policy makers. Well-governed firms face lower variability in stock returns compared to poorly governed firms. Firms that have independent boards that protect its shareholders’ rights and disclose its governance-related policies experience lower firm-level risk, other things being equal. – This study is the first one to examine the impact of a composite measure of corporate governance quality on stock return variability in a non-US setting. The results suggest that firms can use specific corporate governance provisions to mitigate firm-level risk. The findings of the paper are therefore relevant and useful to corporate managers, investors, and policy makers.
Publisher: Springer Berlin Heidelberg
Date: 2009
Publisher: Emerald
Date: 02-2002
DOI: 10.1108/03074350210767681
Abstract: Describes the environment for making initial public offerings (IPOs) in India and the process itself and discusses the applicability of various research explanations for underpricing to the Indian Market. Suggests that it will be greater for new firms and issues managed by reputable merchant bankers and analyses 1992‐1994 data on 386 IPOs to assess their performance. Shows that issues with high risk and/or smaller offer prices are more underpriced and that returns are strongly correlated with subscription levels. Discusses the underlying reasons for this and the implications for public policy.
Publisher: Springer Berlin Heidelberg
Date: 2009
Publisher: Elsevier BV
Date: 09-2021
Publisher: Springer Berlin Heidelberg
Date: 2009
Publisher: Elsevier BV
Date: 04-2020
Publisher: Springer Berlin Heidelberg
Date: 2009
Publisher: Elsevier BV
Date: 09-2018
Publisher: Springer Berlin Heidelberg
Date: 2009
Publisher: Elsevier BV
Date: 11-2009
Publisher: Springer Berlin Heidelberg
Date: 2009
No related grants have been discovered for Chandrasekhar Krishnamurti.