Following a requirement of the local regulator, different Colombian security issuers complied with the norm, producing a corporate governance code. This article studies the effects on accounting performance and financing decisions of Colombian firms after these firms issue their own corporate...

This paper studies the manipulation of the profits reported by non-listed Colombian companies. First, we examine whether the distribution of profits shows a discontinuity around zero earnings, an empirical fact evident in other countries. Second, we investigate whether this discontinuity results...