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There is a widespread public perception that the provision of NAS undermines auditor independence. In order to protect auditor independence, the regulatory frameworks of many countries include regulations and guidelines which auditors are required to observe. This paper provides a comparative...
Persistent link: https://www.econbiz.de/10013107296
This paper explores the questions of why corporate accountability arises and how it is discharged. It explains the relationship between corporate governance and accountability and the role of the audit function in securing corporate accountability. It also provides insights into changes...
Persistent link: https://www.econbiz.de/10013107304
We find that price and earnings momentum are pervasive features of international equitymarkets when controlling for data snooping biases. For European countries, we find that pricemomentum is subsumed by earnings momentum on an aggregate level. However, this rationaledoes not apply to each and...
Persistent link: https://www.econbiz.de/10005868982
While some of the modern performance measures used in managerial accounting rely on cash flow based figures others try to take advantage of the information content of accounting figures. However, whether the additional information content in the accrual components of earnings improves the...
Persistent link: https://www.econbiz.de/10010305710
Intresset för hållbar utveckling har ökat markant under det senaste åren. Inte minst märks det i att allt fler företag numera lämnar hållbarhetsredovisningar. I takt med denna utveckling har även olika ramverk växt fram för att utveckla kvaliteten på dessa redovisningar där...
Persistent link: https://www.econbiz.de/10012654342
Information asymmetry is a necessary prerequisite for testing adverse selection.This paper applies this sequence of tests to Mauritian slave auctions. Dynamicauction theory with private value highlights more aggressive bidding by uninformedbidders and higher prices when an informed participant...
Persistent link: https://www.econbiz.de/10005868840
Theory suggests that by lending to a firm, inside banks gain an informational advantage over non-lender outside banks. This informational gap hinders borrowers from switching lenders due to a winner's curse faced by competing outside banks, leading to hold-up problems. In this paper, we show...
Persistent link: https://www.econbiz.de/10015195464
We offer a novel explanation for the use of collateral based on the dual function of banks to provide credit and assess the borrowers credit risk. There is no moral hazard or adverse selection on the part of borrowers the only inefficiency is that banks cannot contractually commit to providing...
Persistent link: https://www.econbiz.de/10005846663
An agent shows loyalty to his manager by bearing personal costs to the superiors benefit. In return, the manager may offer various forms of rewards. If this exchange is not contractible, typically repeated interaction will be required to sustain it. Beyond loyalty, the manager is interested in...
Persistent link: https://www.econbiz.de/10005858369
This paper examines the impact of a public credit registry on the repayment behavior of borrowers. We implement an experimental credit market in which loan repayment is not third-party enforceable. We compare market outcome with a credit registry to that without a credit registry. This...
Persistent link: https://www.econbiz.de/10005858877