ORCID Profile
0000-0002-9190-4034
Current Organisation
RMIT University
Does something not look right? The information on this page has been harvested from data sources that may not be up to date. We continue to work with information providers to improve coverage and quality. To report an issue, use the Feedback Form.
Publisher: Virtus Interpress
Date: 2007
DOI: 10.22495/COCV4I3C1P5
Abstract: In this paper, we use event study methodology to examine the effect of two highly publicized accounting failures, at Enron and WorldCom both audited by Arthur Andersen, on the total stock returns of some companies in the UK also audited by Arthur Andersen. The results vary substantially between countries. We find no evidence of a significant impact in the UK or US. There is some evidence of negative abnormal returns at the time of the Enron scandal in Australia. However, this reaction was very short-lived and the negative abnormal returns on the stocks of Andersenaudited companies had been fully recovered within a week. Our results suggest that sharing an auditor with a firm that has issued corrections to accounts which have previously received an unqualified audit opinion does not significantly affect market perceptions of firms’ value, which suggests that the choice of auditor has little, if any, impact on market perceptions of the reliability of published financial information.
Publisher: Wiley
Date: 05-04-2022
DOI: 10.1111/TWEC.13123
Abstract: This paper examines the dependence structure between oil futures with other major commodities including gold, copper, zinc, aluminium, rubber, corn, cotton and sugar in China. To this end, we apply the extreme value theory (EVT) and dynamic copula approach, which allows for measuring both average and tail dependence. Contrary to the findings in the literature on stock markets, this paper reveals significant right tail dependence rather than left tail dependence between oil futures and most of the other eight commodities. These findings provide a new insight regarding the behaviour of oil and other major commodities. This paper thus has some significant implications for investors, risk managers and policymakers.
Publisher: Springer Science and Business Media LLC
Date: 05-2018
Publisher: Springer Science and Business Media LLC
Date: 28-10-2020
No related grants have been discovered for Steven Li.