ORCID Profile
0000-0003-3597-5863
Current Organisation
Deakin University
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Publisher: Elsevier BV
Date: 09-2020
Publisher: Elsevier BV
Date: 2019
DOI: 10.2139/SSRN.3552416
Publisher: Wiley
Date: 09-07-2022
DOI: 10.1111/ACFI.12818
Abstract: This study finds that institutional investors in Australia recall loaned shares prior to shareholder meetings to exercise their voting rights as part of their effort to improve corporate governance. Recalls are increasingly common in larger firms, firms with more independent directors, and stocks with higher past returns in recent years. Recalls are associated with less support for resolutions at meetings, especially those related to the remuneration package in firms within the ASX100 and those with existing shareholder dissent. We deduce the value of votes (around 351 basis points (bps) per annum) from the incremental cost of borrowing shares with voting rights around shareholder meetings.
Publisher: Elsevier BV
Date: 11-2019
Publisher: Elsevier BV
Date: 2019
DOI: 10.2139/SSRN.3805744
Publisher: Elsevier BV
Date: 10-2020
Publisher: Elsevier BV
Date: 11-2021
Publisher: World Scientific Pub Co Pte Lt
Date: 09-2015
DOI: 10.1142/S0219091515500162
Abstract: This study examines whether negative book equity (BE) firms are in financial distress by analyzing their operating performance, financial characteristics, distress risk, and survivability when they first report negative BE. Firms with small magnitude of negative BE (SNBE firms) suffer from persistent negative earnings and financial distress, while firms with large magnitude of negative BE (LNBE firms) experience a temporary non-distress related earnings shock. LNBE firms report consecutive years of negative BE, but have lower distress risk and failure rate than both SNBE and control firms. However, all negative BE stocks have abysmal returns subsequent to their first report of negative BE.
Publisher: Elsevier BV
Date: 2018
DOI: 10.2139/SSRN.3224925
Publisher: Elsevier BV
Date: 02-2016
No related grants have been discovered for Tze Chuan 'Chewie' Ang.