Information Externality of Corporate Financial Restatement: Along the Supply Chain
| Autor: | Yao, Jia-Lin, 姚家琳 |
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| Rok vydání: | 2014 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 102 Social networks are the most valuable resource to business and play the role of information transmitting. The supplier and customer relationship is one of the valuable social networks and have been considered as an advantageous link to investigate. We explore the information externality of corporation’s announcement of financial restatement and its impact of the business partner firm in the supply chain. We use the data of firms engaging in financial restatements during the period 2003-2013 from TEJ database and then compile their principal suppliers or customers from several database (including TEJ, MOPS, SFI), those that account for at least 5% of sales from the year financial statement. Then test how firm’s financial restatements affected their corresponding firms. To summarize, borrowing from the theoretical concepts of social network, the information externality through the supply chain network, and the impact of announcing financial restatement, we examine how the information transfer through the supplier-customer relationship as the event of firms announcing financial restatement and affect the market reaction. Moreover, we suggest several financial characteristics of corresponding firm that may cause severe negative effect on market reactions as the restating firm announcing financial restating, such as switching costs, information asymmetry and financial constraints. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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