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ISSN: 1608-8700

Land Oberoesterreich, Biologiezentrum-Oberoesterreichisches Landesmuseum, Johann-Wilhelm-Klein-Strasse 73, Linz, Austria

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Online ISSN:1608-8700
Impact Factor 2016:1.419
Impact Factor 5 year:2.103

Thomson Reuters
Denisia (Vol. 70, No. 2; 2013)

The Effect of Oil Price Shocks on Private Sector Investment in Opec Countries

Radolf, T.*, Kiuroo, A.

The main objective of this study was to investigate the effect of oil price shocks on private sector investment in the OPEC countries for the period 1990-2014. To this end, the filter Hodric-Presscott oil prices were to analyze the positive and negative shocks. In addition, by using unit root tests and relationship between variables was assessed. Finally, using a fixed-effects panel data method of individuation as methods for estimating the model. The results of the study showed that, negative shocks in oil prices has had a negative impact on private sector investment. Positive shocks in oil prices has positive effects on private sector investment in this country. The results also indicate the existence of substitution effects between government spending and private sector investment.

Empirically Test the Relationship Between Dividend Payments and Over-confidence in Management Strategies in the Investment Process

Xerenda, K.*, lipo, D.

In this study, the relationship between dividend payments and over-confidence in managers' strategies were tested. Middle managers over the investment companies to invest in the industry, managers are more confident. The dividend payment as well as the criteria to be paying dividends. Different strategies may participate in the dividend payment for the dividend payment policy is expansion and contraction. These strategies determined by the administrator to reduce or increase the company's interest payments refer to the previous period. Based on multivariate regression models to test hypotheses and compared test were evaluated. The sample of 400 companies listed on the stock exchange in the period from 2000 to 2012. Washington. The results showed that no significant relationship exists between the dividend payout ratio and overconfidence managers. This means that managers have much more confidence in the managers have much less confidence, are less likely to pay dividends to shareholders. Further testing showed that overconfidence and level high and low dividend payout ratio are major differences not significant.

The Effect of Withdrawal of Major Shareholders Threaten the Quality of Financial Reporting

Alizadeh, M.*, Sheidaee, I., Raeisi, N.

The main objective of this study was to investigate the effect of threatening the withdrawal of major shareholders and institutions, the quality of financial reporting in Canada is in stock. Based on this research method to remove systematic sampling has been used. The study, now in the range of 2005-2012 year embraced. The company has 700 full financial details were selected. To examine the relationship between independent and dependent variables or pooled panel regression is used. After reviewing the research model variables, which include major shareholders and institutional competition, the quality of financial reporting and the threat of exit and other control variables measured were identified. Threatening withdrawal of major shareholders and institutional quality financial reporting in companies listed on Canadian stock effect.

The Effects of Information Asymmetry on the Relationship Between Corporate Governance and the Right to Audit Fees in Companies in Sweden Stock Market

Zablotsky, C.*, Young, T.

This study examined the impact of information asymmetry on the relationship between corporate governance and auditing fees. To this end, all companies listed on the Swedish stock market were studied, the financial statements and the information they need in the years 1995-2010 were presented. A total of 830 companies from different industries were selected. Multivariate regression was used to test the hypotheses. And their significance was performed using the t test and F. The test for autocorrelation model of camera-Watson test was used. The results show that there is a significant relationship between board effectiveness and audit fees. As well as information asymmetry also not affect this relationship.