We study the role of institutional investors in cross-border mergers and acquisitions (Mamp;A). We find that foreign institutional ownership is positively associated with the intensity of cross-border Mamp;A activity worldwide. Foreign institutional ownership increases the probability that a...

We investigate the determinants of earnings management and its implications for firm value for more than 24,000 firms in 43 countries for the 1990-2003 period. We find that firm characteristics explain at least as much of the variation in earnings management as country characteristics, and that...