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...

The corporate distress literature to date has largely focused on the predictive power of accounting variables (Altman, 2001). Following previous literature, this study examines the relevance of abnormal stock returns in discriminating between failed and non-failed firms (e.g. Clark and...

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...