The implementation of Statement of Financial Accounting Standard (SFAS)133 had raised concerns about the potential impact the standard could have on firm hedging activities. Chief among these concerns has been an increase in earnings volatility and a reduction in the use of derivatives....

Purpose – The purpose of this paper is to examine the impact of culture (Western versus East Asian) on customers' perceived informational fairness of several types of failure explanations – excuse, justification, reference, and apology. It also seeks to examine whether informational fairness...