This study provides evidence that mandatory cash flow disclosure required by Approved Australian Accounting Standard "AASB 1026, Statement of Cash Flows"(June 1992) was associated with a decline in bid-ask spreads following the introduction of the regulation, even after controlling for changes...

Econometric models involving a discrete outcome dependent variable abound in the finance and accounting literatures. However, much of the literature to date utilises a basic or standard logit model. Capitalising on recent developments in the discrete choice literature, we examine three advanced...

This paper examines, using proprietary ASX data containing institutional holdings, if institutional investors exit en mass prior to announcements of financial distress. Evidence indicates that while some institutional investors exit the stock, the withdrawal is gradual, commencing approximately...