The aim of this study is to investigate the effect of auditor type and eamings reporting lag on the cost of debt for the Tunisian setting. Our sample consists of 32 Tunisian companies for the period of 2003-2012. Audi...The aim of this study is to investigate the effect of auditor type and eamings reporting lag on the cost of debt for the Tunisian setting. Our sample consists of 32 Tunisian companies for the period of 2003-2012. Audit quality is measured by auditor size （Big 4 versus non-Big 4） and timely disclosure is proxied by earnings reporting lag. Results show that auditor type is negatively associated with the cost of debt. By contrast, the association between earnings announcement lag and the cost of debt is positive and significant. When testing for the moderating effects of industry and listing status, we document that these associations are more pronounced for industrial companies and listed firms. Finally, the period of investigation slightly moderates the examined associations, since financial institutions become more sensitive to the tardy communication of information and less concerned with auditor type following some economic and political troubles in Tunisia between 2010 and 2012. Our findings have policy implications for managers in the Tunisian setting and other developing economies similar to Tunisia given the crucial role played by debt as an important source of external finance for companies.展开更多
This study has been investigated some pipeline lines after collapsing process of Union of Soviet Socialist Republics from Azerbaijan to Europe and another alternative ways from Russia. As we know Russia is a big power...This study has been investigated some pipeline lines after collapsing process of Union of Soviet Socialist Republics from Azerbaijan to Europe and another alternative ways from Russia. As we know Russia is a big power as from economic, defensive, and political aspects, as that＇s in ruler position in the region. So, USA from another side of the world as a super power of the world could make dimension of those pipelines from transit of Turkey. That＇s why new Nabucco project has been also cancelled by Russia＇s power. This article has been studied newly established project of Trans Anatolian Natural Gas Line Project （TANAP） from Azerbaijan＇s oil and gas department; Ministry＇s State Petroleum Company＇s （SOCAR） project has not been cancelled by Turkish Petroleum Company （TPAO）. So TANAP＇s advantages and disadvantages have been researched in this article.展开更多
文摘The aim of this study is to investigate the effect of auditor type and eamings reporting lag on the cost of debt for the Tunisian setting. Our sample consists of 32 Tunisian companies for the period of 2003-2012. Audit quality is measured by auditor size （Big 4 versus non-Big 4） and timely disclosure is proxied by earnings reporting lag. Results show that auditor type is negatively associated with the cost of debt. By contrast, the association between earnings announcement lag and the cost of debt is positive and significant. When testing for the moderating effects of industry and listing status, we document that these associations are more pronounced for industrial companies and listed firms. Finally, the period of investigation slightly moderates the examined associations, since financial institutions become more sensitive to the tardy communication of information and less concerned with auditor type following some economic and political troubles in Tunisia between 2010 and 2012. Our findings have policy implications for managers in the Tunisian setting and other developing economies similar to Tunisia given the crucial role played by debt as an important source of external finance for companies.
文摘This study has been investigated some pipeline lines after collapsing process of Union of Soviet Socialist Republics from Azerbaijan to Europe and another alternative ways from Russia. As we know Russia is a big power as from economic, defensive, and political aspects, as that＇s in ruler position in the region. So, USA from another side of the world as a super power of the world could make dimension of those pipelines from transit of Turkey. That＇s why new Nabucco project has been also cancelled by Russia＇s power. This article has been studied newly established project of Trans Anatolian Natural Gas Line Project （TANAP） from Azerbaijan＇s oil and gas department; Ministry＇s State Petroleum Company＇s （SOCAR） project has not been cancelled by Turkish Petroleum Company （TPAO）. So TANAP＇s advantages and disadvantages have been researched in this article.
