David Woodliff

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This paper examines the effects of time budget pressure, risk associated with the task, and audit test on three reduced audit quality (RAQ) behaviors. Specifically, the study evaluated RAQ acts using three situations, including the perceived likelihood of rejecting awkward items from a sample (Situation A), accepting doubtful audit evidence (Situation B),(More)
In takeover bids for unlisted firms, the typically more closely knit target shareholders have the bargaining power and incentive to force the bidder’s managers to disclose their private information about the value of their firm’s shares. The acceptance of share-based offers by private target shareholders thus conveys favourable information about the net(More)
Cash takeover bids financed from internally generated cash reserves could be a function of capital market imperfections (Myers and Majluf 1984) or symptomatic of “free-cash-flow” problems (Jensen 1986, 1988). We find that bids financed from cash reserves outperform those that use debt financing. Further, ‘free cash flow’ firms outperform ‘non-free cash(More)
Share buy-backs are a relatively new concept in the Australian business environment. This study investigates management’s views on share buy-backs; the underlying motivations, expected share price response to their announcements, and reasons for the current conservatism towards undertaking buy-backs. Responses demonstrate that the motivations clearly differ(More)
Upper gastrointestinal endoscopy has become a very useful procedure in detecting pathology and aiding the physician in the evaluation of a patient's problem. A review of one year's sample of 176 examinations performed by a family physician in a small rural hospital shows that there was an 83 percent correlation between pathologic diagnoses of directed(More)
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