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...

Digitalization has brought profound changes to enterprises. As the main decision maker of firm, manager has an important impact on the digital transformation of enterprises that cannot be ignored. Based on the perspective of managerial heterogeneity, we tested the impact of managerial ability on...

We provide evidence regarding the relationship between director training programs and improved financial reporting. Director Training Programs (DTP) help directors better understand the specific context in which a firm operates, including its operations and environment; awareness of business...

Regulatory information disclosure is an important measure to enhance government transparency and law enforcement credibility. Studies mainly focus on ex-post disclosure and affirm its positive effects. However, ex-ante disclosure of regulatory information, as a representative regulatory policy,...

This paper examines the effect of Korea’s fair disclosure regulation on the timeliness and informativeness of earnings announcements. The present regulation for Korean listed firms requires that if a company's sales revenue, operating income (or loss) and net income (or loss) have changed by...