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increases, firms have higher financial reporting quality. Theory also predicts that the impact of blockholders' exit threat on … financial reporting quality should increase as the manager's wealth is tied more closely to the stock price, and this is what we … find. Our study contributes to the research on the impact of shareholders on financial reporting quality and to an emerging …
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This paper provides early but broad empirical evidence on a major new investor protection regulation in Europe, MiFID II, which requires investment firms to unbundle investment research from other costs they charge to clients. We predict that the price separation resulting from unbundling and a...
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