We show that firms 'in danger' of being delisted from a stock market (NASDAQ) report higher performance-adjusted discretionary accruals and the inflated accruals are associated with an increased likelihood of maintained listing. Accruals of firms 'in danger' are less positive in fiscal quarters...

Due to judicial decisions the stock market prices are deemed to be the lower value limit in determining the compensations within structural measures according to German stock corporation law (e.g. squeeze-out of minority stockholders). By applying other valuation methods, in particular the...

In today's uncertain financial climate it is particularly important for entities to explain their financial performance relative to their expectations. Therefore, the paper analyzes the quality and quantity of management reporting in Germany's publicly traded MDAX and SDAX companies using a...

Bei einer Unternehmensbewertung nach IDW müssen grundsätzlich persönliche Einkommensteuern berücksichtigt werden. Nach dem früheren Anrechnungsverfahren (bis 2000) führten ausländische Einkünfte auf Ebene der Kapitalgesellschaft häufig zu steuerfreien Eigenkapitalzugängen. Bei...

Zur Ermittlung der Kompensationsleistung bei aktienrechtlichen Strukturmaßnahmen (z.B. Squeeze-out) ist der Unternehmens- bzw. Anteilswert zu ermitteln. Hierfür wird nahezu ausschließlich das Ertragswertverfahren angewandt. Als problematisch gilt hierbei unter anderem die Prognoseunsicherheit...

Due to empirical research, tax and accounting compliance costs are a considerable burden for private businesses. However, cost estimates may be biased due to survey nonresponse and questionnaire framing effects. This paper investigates the impact of both aspects on the estimated cost burden. I...

Tax uncertainty often negatively affects investment. Advance tax rulings (ATRs) are commonly used to provide tax certainty. We analyze ATRs from the taxpayers' and tax authorities' perspectives. Investors request ATRs if the fee does not exceed a certain threshold. We integrate this finding into...

Many European countries have been carried out a modernization projects in public sector financial reporting since the last two decades. Consequence of a stronger demand for complex, reliable and relevant economic information on government is governments' efforts towards better accountability....

Previous studies have separately investigated the relationship between the internal auditors' characteristics, the level of external auditors' reliance, and the audit efficiency so it has not fully described how the external auditors make decisions to rely on internal audit work, which has an...

The present paper aims to provide empirical evidence regarding the impact of shareholder activism on earnings management. Specifically, it is focused on investigating the moderating role of an external governance mechanism such as external audit quality. Based on a sample of French companies...