We exploit a proprietary government database to identify Italian firms with alleged ties to the Mafia through their executives, directors, or shareholders. We assume that the accountants who work as auditors for these organizations are also corrupt, and term these individuals “suspect...

We find that foreign-born CEOs are more inclined than domestic ones to acquire across borders, and that this inclination is explained by their preference for targets in their birth country. This preference is motivated by their information advantage in their birth country and by these CEOs’...

This study investigates the potential real effects of accounting-based, self-imposed, regulation in sports. We focus on Financial Fair Play (FFP) regulation that was enacted in European football in 2013. The regulation imposed on clubs participating in UEFA competitions, a strict earnings-based...

We advance a theory asserting that CSR performance may exacerbate, not necessarily moderate, a company's negative stock-price response to negative events. In testing this theory, we hypothesize and find that CSR performance alleviates (magnifies) the immediate negative market response to...

We investigate how connections to organized crime manifest on firms' financial statements and analyze the impact of these connections on firm performance outcomes. Using a unique dataset that identifies Italian firms connected to organized crime, we find that connected firms have lower...

We examine how heterogeneity in organizational structure affects private firm earnings quality in the European Union. Organizational structure refers to whether the firm is organized as a single legal entity (standalone) or as a business group: the former are firms not controlling or controlled...

We analyze a choice that parent firms face under IFRS: whether to account a business combination under a common control (BCUCC) at fair value or at the historical cost, to provide evidence that firms would use fair value when they believe it would help them issuing public debt. A BCUCC is a...

Prior research has analyzed accounting quality around the world only working on institutional differences mainly at country level. Little research has been devoted to top management cultural values (here defined as CFO's country of origin), which has turned out to be able to generate unique...