This paper examines the response of the water and electricity group companies to regulatory pressure and in particular, the first regulatory price review after privatisation. The sample period incorporates industry-specific regulatory price reviews in both the water and electricity sectors and...

Earnings management practices lead to inferior quality of financial reporting as they make true performance of the business ambiguous. Developed and developing counties face the possible instances of earnings management despite of the huge availability of regulations and accounting standards...

Financial statements represent an instrument by which relevant information about a company is passed on to its users. Based on the information presented in the financial statements, i.e. information on the financial position and performance of the company, and generated cash flows and capital,...