The U.S. Securities and Exchange Commission (SEC) continues to reform the corporate governance mechanisms in order to improve the quality of financial reporting and thus, enhance the confidence of investors in the stock market and in the accounting profession. Despite the efforts of the SEC, financial reporting scandals continue with record numbers of financial restatements documented by the General Accounting Office. A financial restatement is a correction of a previously misstated financial statement. There is a small volume of literature examining the effects of corporate governance mechanisms on financial restatements. The results of these studies however, are mixed and possibly explained by their narrow focus and omitted variables that could influence the effectiveness of audit committees. Consequently, this study examines the effects of independent audit committee member characteristics and auditor independence on financial restatements. Specifically, this study investigates the relationship between the likelihood of financial restatements and: (1) the expertise of the independent audit committee members, (2) the expertise and diligence of the independent audit committee members, (3) the reputation of the independent audit committee members, (4) the interaction effect of expertise, diligence and reputation, (5) the tenure of the independent audit committee members, and (6) the cash compensation paid to independent audit committee members. Prior studies have not investigated some of these variables or the interaction effects of independent audit committee member characteristics on financial restatements. This study also investigates the association between auditor independence and financial restatements. The SEC alleges that an increasing number of audit failures are due to the lack of auditor independence. One of the major sources of the lack of auditor independence is the auditor’s economic dependency on the client. The provision of non-audit services increases the financial reliance of the auditor on the client. As a result, the auditor may become reluctant to raise issues with the preparation of the financial statements at the risk of foregoing the lucrative non-audit services fees. The SEC believes that longer audit firm tenure can also impair auditor independence and Section 203 of the Sarbanes-Oxley Act suggests periodic audit firm rotation. Therefore, auditor independence was measured as: (1) fees paid to the auditor, and (2) audit firm tenure. Finally, this study extends the prior literature by studying the interaction effects of independent audit committee member characteristics and auditor independence on financial restatements. This interaction effect is important because the external auditor and the audit committee are regarded vital governance mechanisms that interact and exchange dialogue in the performance of their respective oversight of the financial reporting process. Prior research has not investigated this important interaction effect. The sample of the study comprises 69 U.S. publicly listed companies that announced their restatement from 1 January 2001 to 31 December 2002. These companies were matched with 69 non-restatement companies based on industry and size. The data for the study is derived from SEC filings such as Form 10-K and DEF 14A, and Compustat. The univariate results show that compared to restatement firms, non-restatement firms generally have effective audit committee characteristics. The audit committees of non-restatement firms have members who are experts, diligent, reputable and appropriately compensated. They also pay lower non-audit services and total fees, and have audit firms with longer tenure. The multivariate results show that after controlling for other governance structures and firm specific non-governance variables, the likelihood of financial restatements is related to independent audit committee member characteristics and auditor independence. Specifically, the likelihood of financial restatements decreases when independent audit committee members are: (1) experts, (2) experts and diligent, (3) reputable, (4) experts, diligent and reputable, and (5) appropriately compensated. The audit committee member tenure variable is insignificant. In relation to the auditor independence variables, the multivariate results show that the likelihood of financial restatements increases when the non-audit services and total fees generated by the client are higher. On the other hand, the likelihood of financial restatements decreases when audit firm tenure is longer. The empirical results of this study suggest that independent audit committees are more effective overseers of the corporate financial reporting and auditing processes when: they comprise majority experts, they meet regularly, their members are reputable, and audit committee members are appropriately compensated. On the other hand, external auditors are not deemed to be effective overseers of the corporate financial reporting process when the non-audit services and total fees generated by the client are higher but are effective when audit firm tenure is long. The results support the SEC’s concerns regarding the provision of non-audit services impairing auditor independence. The results also support the Sarbanes-Oxley Act of 2002 which under Section 201 prohibits external auditors from providing certain non-audit services to its audit client. Overall, these results support the regulatory efforts to increase the quality of financial reporting by enhancing the corporate governance process related to audit committees and auditor independence. However, the results do not support calls to limit the tenure of the auditor. The results of the multivariate interaction effects suggest that, after controlling for other governance structures and firm specific non-governance variables, when the non-audit services and total fees generated by the client are higher, the likelihood of financial restatements increases under conditions when the audit committee is not effective (a non expert audit committee, an audit committee that does not meet regularly, an audit committee whose members are not reputable or an audit committee that is not appropriately compensated). The implication of this result is that it provides evidence of conditions under which restatements take place. Knowledge of such conditions could aid regulators further improve the financial reporting process and corporate governance. This knowledge will support regulators in revising policies that ensure audit committee members are not only independent but also comprise other critical qualities. These improvements to the audit committee coupled with the existing regulations on the provision of non-audit services suggest a company’s governance will be more effective. Overall, the results extend current knowledge in the sparse but growing literature related to financial restatements and corporate governance, and extend our understanding of the effectiveness and interaction of governance mechanisms in reducing financial restatements.

Aus theoretischer und empirischer Sicht ist zu diskutieren, ob die Genossenschaften positive Auswirkungen für ihre Mitglieder haben. Das Forschungsziel dieser Dissertation ist die Erklärung und Bewertung der Auswirkungen, die landwirtschaftliche Genossenschaften auf ihre Mitglieder in diesen Kontexten haben. Die Leitfragen lauten: (1) welches sind die sozioökonomischen Merkmale der Landwirte, die Mitglieder von Genossenschaften sind? und (2) welche spezifischen Auswirkungen haben landwirtschaftliche Genossenschaften auf ihre Mitglieder? Die Fragen werden in einer systematischen Literaturarbeit und drei empirischen Artikeln behandelt. Die systematische Literaturrecherche zeigt die empirischen Belege für positive Effekte von Genossenschaften finden sich in den Kategorien Zugang zu und Nutzung von landwirtschaftlichen Betriebsmitteln, Einkommen, Preise sowie Status und Entscheidungsmacht von Frauen. Im zweiten und dritten Artikel werden die Eigenschaften der Mitglieder und Preiswirkungen von Genossenschaften im argentinischen Wein- und Milchsektor untersucht. Landwirte, die an Genossenschaften verkaufen, erhalten in den untersuchten Fällen niedrigere Preise für ihre Produkte als Landwirte, die an anlegerorientierte Unternehmen verkaufen. Das vierte Papier analysiert Mechanismen, die zur Inklusion benachteiligter Haushalte in sambischen Maisgenossenschaften beitragen. Inklusion entwickelt sich in Genossenschaften, die Engagement zeigen und entweder vulnerable Mitglieder mit Finanzdienstleistungen versorgen, soziale Identität fördern oder benachteiligte Mitglieder dafür entschädigen, dass sie keinen Zugang zu subventionierten Betriebsmitteln haben. Die Gesamtergebnisse zeigen, dass Genossenschaften im Allgemeinen mit den am stärksten benachteiligten Landwirten zusammenarbeiten. Sie erzielen verschiedene positive Wirkungen für ihre Mitglieder. Dennoch gibt es auch einen relevanten Anteil von Fällen, in denen es nicht genügend empirische Belege für ihre Auswirkungen gibt. / From both theoretical and empirical perspectives, whether cooperatives provide their members with benefits remains open to debate. The research objective of this thesis is to explain and assess the effects agricultural cooperatives have on their members in developing contexts. The guiding questions are: (1) what are the socio-economic characteristics of farmers who participate in cooperatives? and (2) what are the specific effects of agricultural cooperatives on their farmer members? The questions are addressed in a systematic literature review and three empirical papers. The systematic literature review finds that what is known about cooperatives is based upon a very limited set of cases. The most conclusive evidence of positive effects corresponds to the categories access to and use of inputs, income, prices and women’s status and agency. The Paper Two and Three explore member characteristics and price effects of cooperatives and Investor-Oriented Firms in the Argentinean non-varietal wine and dairy sector, respectively. Farmers selling to cooperatives receive lower prices than farmers selling to Investor-Oriented Firms in the studied cases. Since cooperative members differ from other farmers in terms of size, assets and the cost of accessing the market, it can be concluded that cooperatives deal with more disadvantaged farmers at the expense of lower prices. The Paper Four analyses the mechanisms that contribute towards inclusion of disadvantaged households in Zambian maize cooperatives. Inclusion develops in cooperatives that show commitment and either provide financial services to vulnerable members, promote social identities or compensate disadvantaged members for not being able to access subsidised inputs. The overall results show that cooperatives generally work with the most disadvantaged farmers. They create multiple positive effects for their members. However, there is also a meaningful share of cases with a lack of sufficient evidence of effects.

隨著資訊時代的來臨，網際網路用戶數的急速成長，客戶資料大量湧入的結果造成了企業回應客戶的困難；此外，入口網站的日漸普及與市場新利基的建立，使得上網者對專業化網站的需求提高；而配合新行銷時代的來臨，新科技行銷已從以往的大眾行銷走向一對一的個人化行銷。在這樣的背景與動機驅動下，近年來資料倉儲技術的興起，在這個講求競爭及速度的時代，提供了一套真正能創造企業優勢的方法，資料倉儲與客戶關係管理也逐漸成為企業發展與競爭不可或缺之工具。 　本研究乃是利用資料倉儲等相關技術，期望能達到網路市場區隔之目的，進而提供行銷相關之建議。因此，研究中定義了入口網站之會員特性分析模式，從中發掘出會員特性模式之分析結果，再配合入口網站功能階段分類表的服務內容，與研究中所訂之行銷模式，修改並制訂最後行銷策略上之參考建議。 　目前國內在資料挖掘上之相關研究，乃以金融、銀行、保險等領域的應用較多，對於入口網站此領域的應用尚無相關研究出現。另外，在網際網路發達，且入口網站百家爭鳴的背景之下，如何提高會員註冊率，與如何保留住已註冊的會員，是網站經營者所需考量的兩個重要課題。有鑑於此，本研究期望帶給網路業者一個新的思考方向與啟發，也試著將資料挖掘的技術帶入網際網路的應用領域，由網站會員特性的初步分析開始，做一簡單之示範。 / With the approach of informational era, the Internet users grow rapidly and the mass production of customers' data results in the difficulty of the response from industries to customers. Moreover, the widespread use of portal sites and the establishment of new market opportunity let the Internet users raise their demand to specialized websites. Because of the coming of new selling era, the selling of new science and technology has changed from the former mass selling to one-to one individual selling. Under the drive of this kind of background and motive, Data Mining technology rises and develops recently. In the era that emphasizes competition and speed, we provide a method that creates the superiority of industries. Data Warehouse and Customer Relationship Management (CRM) is becoming the essential tool for the development and competition of the industries. 　This research uses some technologies related to Data Warehouse in order to segment the Internet market, and provide the related selling suggestions. Therefore, the research defines the analytic model of characteristics of members of portal sites, discovers the analytic results, and then to cooperate with the services mentioned in the classified table of functions/stages of the portal site and the selling model made in the research, and then modifies and makes the final suggestions on selling tactics. At present, the internal researches about Data Mining are usually applied in the domains of finance, banking, and insurance, not in the domain of the portal sites. Besides, in the situation of prosperous Internet and competition of portal sites, how to raise the register rate of members and how to keep the registered members are the two important topics considered by website managers. Consequently, this research hopes to bring not only a new direction and inspiration to managers, but also a new applied domain, Internet, for Data Mining. This research will begin with a simple example that analyzes the characteristics of a Portal Sit's Members and the Making of Selling Tactics.