This paper studies the effects of interlocked boards of directors on voluntary disclosures, governance practices and earnings quality. The Canadian environment, where director interlocks are prevalent, is examined. A checklist of twenty voluntary disclosure measures from proxy statements is...

Investors increasingly hold stock in multiple firms that compete in the same product market (“common ownership”), and this ownership structure is positively associated with voluntary disclosure. We posit that common owners want managers to take coordinated anti-competitive actions (i.e.,...

Egypt witnessed continuous developments in accounting regulations which led to a comprehensive set of Egyptian Accounting Standards (EAS) in June 2006, to be implemented starting 2007. It is expected that complying with high quality accounting standards would result in more adequate information...

The aim of this paper is to answer the question whether, and, if so, to what extent, control over financial reporting is exercised in practice. An attempt was made to measure the control by analysing the disclosures regarding the control over financial reporting which were included in the annual...

This study examines the association between managerial ability and the extent of firm-level climate change disclosures, and the moderating role of corporate governance in this association. Results based on a sample of 2,298 firm-year observations from the United States (US) from 2005–2019...

How does the possibility of being taken over affect a manager’s voluntary disclosure? This paper analyzes this question in a setting where the manager’s disclosure complements the rival’s expertise and influences the probability the firm is taken over by a rival. The threat of being...

Prior literature shows that financial disclosures and corporate governance both impact firm performance. This paper documents an important topic that has been overlooked in the prior literature, their joint effect, because the two mechanisms could be independent, substitutive, or complementary...

The bankruptcy system plays an important role in resolving financial distress and reallocating resources in the economy. While many believe that transparency is central to an efficient bankruptcy system, the Bankruptcy Code lacks clear standards for disclosure and financial reporting. In this...

This paper provides early but broad empirical evidence on a major new investor protection regulation in Europe, MiFID II, which requires investment firms to unbundle investment research from other costs they charge to clients. We predict that the price separation resulting from unbundling and a...

This study investigates whether conference calls accompanying M&A announcements in Europe provide valuable information for capital market participants and hence induce an abnormal stock price revaluation on the bidder’s equity. Based on handpicked data for transactions between 2008 and 2012 we...