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Earnings Management in the UK : The Impact of Managerial Share Ownership and Minority Shareholder Protection on Discretionary Accruals
Bos, Sebastian - 2017
The paper examines the relationship between share ownership by boards of British stock exchange listed companies and accrual based earnings management. It provides the first empirical evidence that the relationship is impacted by UK Company Law and the institutional governance framework.We...
Persistent link: https://www.econbiz.de/10012976190
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Do Shareholders Assess Managers’ Use of Accruals to Manage Earnings as a Negative Signal of Trustworthiness Even When its Outcome Serves Shareholders’ Interests?
Hewitt, Max - 2020
We examine how shareholders' trust in managers is affected by the outcome of earnings management (inconsistent vs … experiment, we predict and find that trust is impaired when the outcome of earnings management suggests that managers have put … their interests above shareholders' interests and/or when the method of earnings management suggests that managers …
Persistent link: https://www.econbiz.de/10012841888
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Do Shareholders Assess Managers’ Use of Accruals to Manage Earnings as a Negative Signal of Trustworthiness Even When its Outcome Serves Shareholders’ Interests?
Hewitt, Max - 2020
We examine how shareholders' trust in managers is affected by (1) the outcome of earnings management (inconsistent vs … controlled experiment, we predict and find that trust is impaired when the outcome of earnings management suggests that managers … have put their interests above shareholders' interests and/or when the method of earnings management suggests that managers …
Persistent link: https://www.econbiz.de/10012857076
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Executive Compensation, Earnings Management and Shareholder Litigation
Wu, Yan Wendy - 2020
This paper examines the effects of executive compensation and potential for earnings management on the incidence of shareholder class action lawsuits and their outcomes. Although damage measurement factors,managerial option intensity, and earnings management all significantly affect the...
Persistent link: https://www.econbiz.de/10012857511
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Walk the talk: shareholders' soft engagement at annual general meetings
Auzepy, Alix; Bannier, Christina E.; Martin, Fabio - 2023
The right to ask questions and voice their opinions at annual general meetings (AGMs) represents one of the few avenues for shareholders to communicate directly and publicly with the firm's management. Examining AGM transcripts of U.S. companies between 2007 and 2021, we find that shareholders...
Persistent link: https://www.econbiz.de/10013555431
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Boards, Audit Committees, Earnings Management and Shareholder Returns in MBO's
Davidson, Wallace N. - 2011
We relate the agency issues inherent in management buyouts and in earnings management. Income-reducing earnings management occurs prior to management buyouts. When insiders own small amounts of stock, outside monitoring mechanisms such as institutional ownership and Big Six audit firms reduce...
Persistent link: https://www.econbiz.de/10013122548
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Institutional Investors and Earnings Management Associated with Controlling Shareholders' Promises : Evidence from the Split Share Structure Reform in China
Wilson, Mark David; Wang, Kun Tracy; Wu, Yue; Lau, Archie - 2022
We examine the effectiveness of institutional investors in constraining aggressive earnings management induced by strong contractual incentives. To this end we focus on the consequences of earnings-related promises (covenants) negotiated between corporate controlling shareholders and minority...
Persistent link: https://www.econbiz.de/10013403905
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Market Valuation of Anticipated Governance Changes : Evidence from Contentious Shareholder Meetings
Brochet, Francois - 2016
We define annual shareholder meetings as contentious if one or more ballot items are likely to obtain sufficient shareholder votes to induce a firm to implement governance changes. Using a sample of almost 28,000 meetings between 2003 and 2012, we find that abnormal stock returns over the 40-day...
Persistent link: https://www.econbiz.de/10012987700
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Blackrock vs Norway Fund at Shareholder Meetings : Institutional Investors’ Votes on Corporate Externalities
Briere, Marie - 2018
Do institutional investors engage with companies on corporate externalities such as greenhouse gas emissions? And if so, why? We study voting at shareholder meetings by two emblematic global investors: BlackRock, a major asset manager, and the Norway Fund, a responsible sovereign wealth fund....
Persistent link: https://www.econbiz.de/10012925033
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Corporate Governance and the Shareholders : The German Law on Virtual General Meetings 2022
Hopt, Klaus J. - 2022
The role of shareholders in corporate governance is traditionally that of principals under agency theory, the directors being the agents. For a long time, their active role has mainly been restricted to rights which are exercised in the general assembly, though more recently institutional...
Persistent link: https://www.econbiz.de/10014236651