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From 1996 to 1998, listed companies in China were required to achieve a minimum return on equity (ROE) of 10 percent in each of the previous three years before they could apply for permission to issue additional shares. As a result of this rule, there was a heavy concentration of ROEs in the...
Persistent link: https://www.econbiz.de/10012785906
Design of contracts that define firms, and their accounting systems depends on the conditions in the firm's factor and product markets. We examine the fundamental difficulty of defining and developing "uniform" accounting for diverse economic environments across countries and compare the...
Persistent link: https://www.econbiz.de/10005147061
The purpose of this paper is to constitute a comprehensive framework of risk management and to explore the role played by internal auditors in the audit of risk management. The paper also, attempts to collect internal auditors' opinion regarding other factors on risk-management auditing, where...
Persistent link: https://www.econbiz.de/10013115715
We examine the impact of China's anti-corruption campaign on firm-level financial reporting quality (FRQ). As an important component of the anti-corruption campaign, in October 2013, “Rule 18” was issued to prohibit party and government officials from serving as directors for publicly listed...
Persistent link: https://www.econbiz.de/10011721565
This study provides further insights on the key corporate governance drivers of intellectual capital (IC) disclosure in Egyptian companies. It uses IC disclosure index of three components; internal capital, external capital, and human capital to identify IC disclosure level in annual reports of...
Persistent link: https://www.econbiz.de/10014191408
Design of contracts that define firms, and their accounting systems depends on the conditions in the firm's factor and product markets. We examine the fundamental difficulty of defining and developing "uniform" accounting for diverse economic environments across countries and compare the...
Persistent link: https://www.econbiz.de/10014129426
I discuss the analysis in Piotroski and Srinivasan (2008) and how it helps to disentangle the effects of Sarbanes Oxley on observed listing patterns. Since the paper is quite thorough and reflects the comments from many workshop participants, I focus on broader issues. Further, I attempt to...
Persistent link: https://www.econbiz.de/10014045856
One of the goals of the Sarbanes-Oxley Act (hereafter SOX) was to restore confidence in financial reporting by providing incentive for firms to report financial results that reflect the underlying economic performance. Early findings are inconclusive on the success of the Act. Cohen, Dey and Lys...
Persistent link: https://www.econbiz.de/10014048145
Using publicly available data from annual reports, we find that SEC rule changes (33-8128 and 33-8644) that impose time pressure on the audits of registered firms have a negative impact on earnings quality, which we interpret as evidence of lower audit quality. Consistent with our predictions,...
Persistent link: https://www.econbiz.de/10014052760
This paper examines accounting restatements from two perspectives. First, we examine the market reaction to restatement filings, using both returns and volume measures. We document that the earnings impact and whether a firm discloses the restatement through an 8K filing provides the most...
Persistent link: https://www.econbiz.de/10014216166