Commissions-motivated agents have historically helped the development of many markets, but research suggests brokers motivated by commissions sometimes steer consumers towards inappropriate products. This issue is particularly important in household financial markets where consumers may be...

Mutual fund companies typically charge investors distribution fees, such as 12b-1 fees in the United States, which they then use to pay commissions to brokers. We evaluate a major Indian investor protection reform that limited the ability of mutual funds to charge distribution fees to pay broker...

The competitiveness of the IPO underwriting market suffers from the concentration of restricted mandates in the hands of a limited number of underwriters with good reputations. Academic research has focused extensively on the relationship between underpricing and the influence of an individual...

Despite harmful effects, Real Earnings Management (REM) is increasingly becoming more popular method of earnings management than Accruals based Earnings Management (AEM) (Cohen et al., 2008; Commerford et al., 2018). We argue that, when firms’ organizational structure has extended boundaries with...