Since the establishment of the Shenzhen Stock Exchange's (SZSE) Disclosure Ranking System in 2001, listed companies' disclosure quality has been increasing year by year in China. Better disclosure quality helps reduce the information asymmetry between the managers of those companies and external...

We examine the relation between labor union strength and investment efficiency using comprehensive firm-level data of Korean listed companies. We find that the perceived underinvestment related to unionization documented in previous studies is attributable to a negative relation between union...

This study investigates whether a firm's cost of equity capital is influenced by the extent of a firm's real activities management. Using a large sample of U.S. firms, we find that our proxy for the cost of capital is positively associated with the extent of earnings management through the real...