Audit Quality and Cost of Debt Capital for Private Firms: Evidence from Finland Jukka Karjalainen Department of Business University of Eastern Finland April 10‚ 2010 Abstract The purpose of this paper is to examine the value relevance of the perceived audit quality in terms of who audits‚ as well as the audit outcomes in terms of the auditor’s opinion and accruals quality‚ in the pricing of debt capital for privately-held firms by examining a large sample of privately-held Finnish firms. The
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dimensions is used to give the audience an understanding of the various cultural differences that exist between the relevant countries‚ those being Australia and Taiwan. A discussion of the concept of loss of face is given alongside an outline of Trompenaars ‘achievement vs description’ dimension of cultural difference. A discussion exploring the impact of religion on culture and doing business in Confucius countries like that of Taiwan outlined along with a. The impact of building and maintaining relationships
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In 2011 Ted Devine left AON Risk Services to become the CEO of Insureon‚ a multi-billion dollar company with 28.000 employees‚ based in Chicago‚ Illinois. One of his first significant changes; an open floorplan in the office. "For me it says a couple things about leadership. One is: No walls‚ no barriers‚ no hierarchy. Everybody can talk to everybody. Everybody can participate in a decision. We work together‚ and that’s very important in leadership." The current situation at Schwarz Shipyards can
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High context refers to societies or groups where people have close connections over a long period of time. Many aspects of cultural behavior are not made explicit because most members know what to do and what to think from years of interaction with each other. In high-context cultures most of the information is in the physical context or is internalized in the people who are a part of the interaction. Very little information is actually coded in the verbal message. Low context refers to
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1980 U.S. Olympic Hockey Team "’Do you believe in miracles? YES!’ said AABC broadcaster Al Michaels’”‚ (Painter). Al michaels said this line as the 1980 United States Olympic Men’s Ice Hockey Team upset the Soviet Union in the semi-final game. The United States team was composed of a highly skilled coach‚ Herb Brooks‚ as he had just won a national championship for college hockey with the University of Minnesota’s Golden Gophers in 1979 (Barnes). Herb Brooks was not new to the program as he was the
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The League of Nations could stop small wars and improved some people’s lives. But it could not defend the Treaty of Versailles‚ get disarmament‚ or stop powerful countries. It stopped some wars – e.g. it arbitrated between Sweden and Finland over the Aaland Islands (1921) and stopped the invasion of Bulgaria by Greece (1925). In 1928‚ the League arranged the Kellogg-Briand Pact‚ which outlawed war. The League also took 400‚000 Prisoners of War home and set up refugee camps. The
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In Thomas Nagel’s essay titled “The Objective Basis of Morality”‚ Nagel claims that “[t]he basis of morality is a belief that good and harm to particular people (or animals) is good or bad not just from their point of view‚ but from a more general point of view‚ which every thinking person can understand” (Nagel 124). When applying this theory to the immorality of the price of higher education‚ it can be argued that making college so expensive is immoral because any thinking person can see it is
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Aalto-Hochhaus is a 22-floor high-rise apartment building in Bremen‚ Germany‚ designed by Alvar Aalto. It is approximately 60 meters tall and was completed in 1962. Finlandia Hall is a concert hall with a congress wing in Helsinki‚ Finland. The work began in 1967 and was completed in 1971.Alvar Aalto was commissioned by the city of Helsinki to design a concert and congress building‚ the first constructed part of a great central city plan. Aalto University aims to create a new science and arts community
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applications of statistics are: helpful in predicting diseases‚ beneficial in business and useful in predicting weather. Figure 1: Predicted future numbers of newly diagnosed cases of diabetes in Finland (The Lancet‚ 2008) Figure 1: Predicted future numbers of newly diagnosed cases of diabetes in Finland (The Lancet‚ 2008) Statistics‚ being helpful in predicting certain diseases‚ is one of the major application of statistics. Statistics are used all over the world in one form or the other. They
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1. Problem Originated from a grain-milling company in Finland‚ the 57-year-old Rasio Group developed a substantial export business which accounted for 39% of its sales by 1996. Its main products including margarine‚ pasta and other food products were manufactured‚ sold locally and exported. In 1995‚ a blockbuster product Benecol‚ cholesterol-lowering margarine‚ attracted the interest of food processors and supermarket groups throughout the world and fueled a surge of investor interest. Stanol ester
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