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markets in civil law jurisdictions, such as Germany, France, and Italy have been relatively weak by comparison with common law … jurisdictions. These findings have been widely cited. By comparing fiduciary duty protections in Germany and the U.S., with an eye …
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This paper examines the relation between investor protection and real earnings management. We build on the work of La Porta et al. (2000), who found that countries with different legal systems protect investors differently. Using a sample of more than 13,000 unique firms in over 54 countries,...
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