Theoretical research on internal capital markets suggests an important role for internal information quality in the capital allocation process within conglomerates. Direct empirical evidence, however, has been sparse, largely because informational frictions inside firms are difficult for...

This paper studies the effects of hedge disclosure requirements on corporate risk management and product market competition. The analysis is based on a simple model of market entry and shows that incumbent firms engage in risk management when these activities remain unobserved by outsiders. The...

The primary objective of this study is to construct a valid and reliable instrument to quantitatively measure the quality of internal audit function via level of conformance by internal auditors towards the International Professional Practice Framework (IPPF). Two separate pilot tests were...

This study examines the differences in the relationships between different stakeholders in conventional and Islamic financial institutions. The accounting and finance literature identifies the major contractual relationships as being those between managers and shareholders (employment contracts)...

Our study explores the concept of independence and its interdependence with accounting outcomes. Drawing on agency and non-agency theoretical foundations, we examine whether audit committee independence and the network centrality of a firm's board members and au-ditor are positively associated...

<p>This document contains presentation slides for the American Finance Association's Presidential Address of January 4, 2020. The address is based on the paper "Social Transmission Bias in Economics and Finance."</p><p>The paper: "https://ssrn.com/abstract=3550880" https://ssrn.com/abstract=3550880...</p>

Purpose – This paper aims to examine the relationship between corporate governance, corruption and disclosure of forward-looking information in listed firms in two African countries, Botswana and Ghana.Design/methodology/approach – The study uses 174 firm-year observations between the period...

Using a global sample of 2,357 attempted initial coin offerings (ICOs), we examine whether ICO rating providers act as information intermediaries that may reduce information asymmetry and the associated adverse selection problem in the crypto-tokens market. We find that issuer-supplied voluntary...

This study helps provide clarity to the prior mixed findings on the association between the transparency of the financial information environment and tax avoidance by studying the effect that transparency has on tax avoidance in a cross-country sample through aggregate - and firm-level tests. By...

Voluntary disclosures convey information through two channels: 1) the direct revelation channel in which the disclosed body of information is used to update beliefs, and 2) the signaling channel in which inferences are drawn from the fact that the firm chose what information to disclose. I study...