We show that if taxable income were linked to accounting income, there will exist an automatic safeguard against manipulation of earnings within the analyzed framework. Separating taxable income from accounting income will remove this self-controlled mechanism, and accordingly create a need for...

We investigate how audit firm size and large auditor-provided non-audit services (NAS) affect accruals quality around large equity issues and acquisitions for Norwegian public companies from 1999-2013. We find poorer accruals quality around large equity increases. Big 4 audit firms mitigate...

In 2003, the Financial Supervisory Authority of Norway (FSA) disclosed that audit firms had violated the legal restrictions for providing non-audit services (NAS). In response, the FSA tightened the NAS regulations. This study examines how regulatory oversight affects the relation between the...

This article analyzes the value-relevance of industry-based and resource-based competitive advantage in a large sample of firms listed on the Oslo Stock Exchange. We measure competitive advantage by a single variable and perform a new decomposition into its underlying sources. In 1986-2005, the...