This paper contributes to the merger and acquisitions (M&A) literature by providing evidence on the role of industry relatedness in the association between the earnings management (EM) practices of the target firm before the deal and the premium offered by the acquirer. We argue that familiarity...

The aim of this paper is to test whether the pricing of accruals depends on auditor reputation. Using a wide sample made up of Spanish privately held firms for the period 1996-2002, we show that the inverse correlation between accruals quality and cost of debt reported by Francis et al. (2005)...

In a sample of large private Spanish subsidiaries, we find that the magnitude of discretionary accruals is significantly higher when the parent company is foreign than when it is local. Our tests support the thesis of recent research on earnings management strategies within multinational...

Employing Lennox's (2000) methodology on a uniquely long time series of Spanish companies' data, we find evidence of successful opinion-shopping through the firm switching decision. However, in contrast to Chen et al. (2016) in the Chinese setting, we find no evidence of successful...

We study how foreign ownership relates to financial performance in a sample of large privately held Spanish subsidiaries. We find that, although foreign group subsidiaries report higher sales turnover than subsidiaries of local groups, they lose their sales advantage at the operating income...

In a large sample of private Spanish subsidiaries, we observe a significantly greater incidence of modified audit reports in foreign than in local group subsidiaries. Results are consistent with foreign group subsidiaries having lower incentives to avoid receiving modified audit opinions (MAOs)...

In this paper we empirically evaluate the widespread belief of managers that income smoothing results into lower stock market risk. Multivariate regressions confirm that a negative relation exists between discretionary income smoothing and idiosyncratic volatility. Further analysis indicates...

This paper explores global and local determinants of the popularity of Bitcoin. Using data of Bitcoin Google searches for the January 2010 to November 2021 period in a set of 22 countries. Our estimations corroborate that economic policy uncertainty at the country level does not play a...

Este trabajo analiza los motivos que subyacen a la elección contable para registrar las participaciones en un tipo concreto de negocio conjunto: la sociedad multigrupo. Dadas las características de los métodos alternativos, integración proporcional vs. puesta en equivalencia, la elección...

Lobbying is an essential part of the IASB standard-setting process. There is still much to learn, however, about key aspects of the roles played and arguments employed by various constituents when lobbying practices do occur. This paper focuses on the regulation of share-based payments. As these...