This study examines the financial structure and profitability of various categories of Greek hotels for the 2005-2007 period, three years following the 2004 Olympics in Athens and just before the 2008 economic crisis in Greece. The research sample consisted of 146 private two, three, four and...

Does it matter for domestic investment whether a country’s financial system is bank based or stock-market based? This paper posits that financial intermediation affects domestic investment notably by alleviating financing constraints, allowing firms to increase investment in response to...

The Financial Accounting Standards Board (the "FASB") presents a puzzle: How has this private standard setter managed simultaneously (1) to remain independent, (2) to achieve institutional stability and legitimacy, and (3) to operate in a politicized context in the teeth of opposition from its...

This paper examines the 1989–1993 publicly available financial reports of 46 U.S.-based multinationals to estimate the revenue implications of implementing a U.S. federal formula apportionment system. Ignoring behavioral responses, we estimate shifting to an equal-weighted, three-factor...

One of the critical elements of internal control over financial reporting is an effectively functioning audit committee. The Sarbanes-Oxley Act of 2002 (SOX) defines an audit committee as " committee (or equivalent body) established by and amongst the board of directors of an issuer for the...

In response to recent criticisms of audit committee performance, new SEC and stock exchange rules require companies to prepare an audit committee charter and to publish the charter in their proxy statement at least once every three years. Audit committees also must disclose how they discharged...

This study reports the results of an experiment that investigates the effects of financial-report timing, EPS proximity to analyst forecast, and external auditor argument consistency on audit committee members' support for a proposed audit adjustment. We use source credibility theory to predict...

This paper provides insight into financial statement fraud instances investigated during the late 1980s through the 1990s within three volatile industries-technology, health care, and financial services--and highlights important corporate governance differences between fraud companies and...