Pension accounting is anything but conservative since earnings can be protected from actuarial gains and losses. This paper shows that therefore conservatism measures based on models of the asymmetric relationship between earnings and positive versus negative stock returns are biased downwards....

This longitudinal study of large European firms (1993-2007) offers a conceptual model that explains how two key aspects of the macro-competitive environment, macroeconomic growth and foreign competition, shape product and international diversification. The results indicate that greater foreign...

This paper examines the impact of ownership on product and international diversification. While ownership concentration has received considerable attention from agency theorists we argue that a more nuanced analysis is necessary. We, specifically, consider how the identity of owners moderates...