Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...

This paper addresses the relationship between mandatory and voluntary information. The introduction of IFRS in 2005 modified mandatory information requirements and influenced the content and level of the discretionary information disclosed by firms. This background allows us to test whether the...

New value indicators are not used in the same way everywhere. In some cases, they are only used to provide financial information whereas in others, they are the basis for organising internal management. Sometimes they are merely used as financial analysis tools.

Following the debate surrounding the Conceptual Framework revision jointly undertaken by the IASB and the FASB in May 2008, this paper identifies and discusses three major concerns about the way accounting and financial reporting standards should be determined for listed companies evolving in a...

Following the debate on the Conceptual Framework revision undertaken by the IASB and the FASB, this paper discusses three major concerns about the way financial reporting standards should be determined: (1) What is the role a Conceptual Framework?; (2) For whom and for which needs are accounting...

Probability weighting is one of the cornerstones of decision-making theories accommodating gambling preferences. This paper examines its relevance to explaining employee stock option exercise behavior. We characterized the optimal exercise policy for a representative employee with Rank-Dependent...