دانلود مقاله ISI انگلیسی شماره 51964
ترجمه فارسی عنوان مقاله

نقش حاکمیت شرکتی در پیش بینی ورشکستگی : قبل و بعد از تصویب SOX

عنوان انگلیسی
The role of corporate governance in forecasting bankruptcy: Pre- and post-SOX enactment ☆☆☆
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
51964 2016 23 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : The North American Journal of Economics and Finance, Volume 35, January 2016, Pages 166–188

ترجمه کلمات کلیدی
مدل پیش بینی ورشکستگی؛ حاکمیت شرکتی
کلمات کلیدی انگلیسی
Bankruptcy prediction model; Sarbanes-Oxley Act; Corporate governance
پیش نمایش مقاله
پیش نمایش مقاله  نقش حاکمیت شرکتی در پیش بینی ورشکستگی : قبل و بعد از تصویب SOX

چکیده انگلیسی

This paper contributes to the literature by documenting the improved performance of bankruptcy prediction models after including corporate governance variables. The empirical results demonstrate better predictive power for financial bankruptcy than previous bankruptcy prediction models, particularly in the post-SOX period. Our theoretical argument emphasizes the urgent need for such improvements to the bankruptcy prediction model following the introduction of the SOX Act, with the empirical results providing intuitive economic meaning for all relevant market participants. Policymakers may consider enacting laws to include designs for corporate governance monitoring mechanisms, entrepreneurs may use this model to improve their own governance structures and compensation mechanisms to avoid financial bankruptcy, and investors may refer to it to ensure that ‘losers’ are excluded from their investment portfolios.