Drawing on a framework of deinstitutionalization, this study explores the abandonment of budgeting through a multiple-case study of four companies. The findings illustrate how a number of antecedents to deinstitutionalization acted in each setting and show that abandonment was only achieved...

How do investors perceive CEOs' style of sustainability reporting? To answer this question, we connect the reporting style of CEOs with sustainability reporting and sustainability performance at firm level and analyze the joint effect of CEOs' reporting styles, sustainability reporting and...

We examine whether variation in the separation of ownership and control influences the tax practices of private firms with different ownership structures. Fama and Jensen (1983) assert that when equity ownership and corporate decision-making are concentrated in just a small number of...

The 1964 Securities Acts Amendments extended the mandatory disclosure requirements that had applied to listed firms since 1934 to large firms traded Over-the-Counter (OTC). We find several pieces of evidence indicating that investors valued these disclosure requirements, two of which are...

The purpose of this study is to use structural equation modelling (SEM) to investigate the extent to which different monitoring mechanisms – the board and its committees, shareholders and independent auditors – are complements (i.e. a positive covariance) or substitutes (a negative...

By the end of the 20th century, the competitive structure of the public accounting industry evolved into a tight oligopoly. We predict a reversal of this trend, because new issuers of public equity, who steadily replace legacy companies in the set of public companies, display less verifiable...

We identify a new channel – market makers' attention constraints – through which earnings announcements for one stock affect the liquidity of other stocks. When some stocks handled by a designated market maker have earnings announcements, liquidity is lower for non-announcement stocks...

This paper investigates the earnings management activities in Chinese listed firms and the impact of the split share structure reform (SSSREF). We demonstrate that Chinese listed firms exhibited a long-term positive relationship between real and accrual-based earnings management activities over...

This paper examines “bundled” forecasts, or management earnings forecasts issued concurrently with earnings announcements, which have evolved to become the most common type of management forecast. We describe the econometric problems associated with measuring bundled forecast news and, in...

Watts (2003) and Ball and Shivakumar (2005) argue that accounting conservatism decreases managerial incentives to make negative net present value investments. I develop and test a new hypothesis that accounting conservatism is associated with managers making less risky investments. I find that...