This paper examines financial interlocks between banks and industrial companies, and its relationship to earnings quality and the cost of debt. This issue is especially pertinent given the inherent conflict of interest present between banks and industrial firms, and their poorly understood...

This paper examines whether firms substitute accrual and real-based earnings management once the International Financial Reporting System (IFRS) becomes mandatory. Using a sample of 53,853 firm-year observations from 37 countries between 2000 and 2008, we document a decrease (increase) in...