This book gathers the proceedings of the ICAFFI International Conference on Accounting, Finance and Financial Institutions. The main topics addressed include: corporate finance, financial markets and asset pricing, empirical finance, taxation, financial risk management, international finance, financial econometrics, financial reporting and accounting standards, managerial accounting, measuring financial performance, accounting information systems, and current issues in accounting and finance in emerging and other markets. Presenting both cutting-edge research and a broad set of methods, and combining practical and theoretical perspectives, the book offers a valuable resource for researchers, practitioners and regulators alike.

Autorentext
Professor Taufiq Choudhry is Professor of Finance, Director of Research within Southampton Management School at the University of Southampton. He received his BSc degree in Economics from University of Iowa, USA, Masters and PhD in Applied Economics from Clemson University, USA. Before rejoining University of Southampton Management School in January 2006 as a Professor of Finance, he was a lecturer and a senior lecturer at University of Wales, Swansea, Reader in Finance at University of Southampton Management School and then Professor of Finance at University of Bradford Management School. Author of papers e.g. in Journal of Banking&Finance, Journal of Forecasting, or Empirical Economics. The total number of citations approximates 1,500. He has been very active as a member of program committees of international research conferences all over the world. He has been involved in visiting fellowships and awarded for research papers.
Professor Jacek Mizerka is full-time Professor at the Poznan University of Business and Economics, Poland and Director of the Corporate Finance Department. He received habilitation in 2008 for the book on real options and PhD in Economics in 1992. He has been Vice-rector of the Pozna University of Economics and Business for Education and Students and Vice-rector for Finance and Development. He is experienced in supervising research projects financed by the Polish Ministry. He stays active in teaching in undergraduate, master's and MBA studies. Supervisor of PhD theses, two of them were successfully completed and several are ongoing. He is involved in international cooperation for many years. Experienced reviewer of PhD theses, habilitation procedures, and research projects for the Polish government. He has been also engaged in research committees and journal editorial boards. Research of academic interests: corporate finance, investment and financial decisions, real options, risk management,quantitative finance.

Inhalt
Impact of Pay-for-performance on Rating Accuracy.- Investor reactions to dividend announcements of companies listed on the Warsaw Stock Exchange.- Managing of financial flexibility.- Financial Constraints and Cash Flow Sensitivity to Investment in Indian listed Manufacturing Firms.- The role of tax havens in tax avoidance by multinationals.