This paper examines whether reported cash flows from operating, investing and financing activities coincide with corresponding cash flows estimated from firms' income statements and balance sheets. The findings obtained from a sample of listed Finnish firms for 1995-1997 are the following. (i)...

This paper examines some novel corporate governance-based determinants of risk disclosures among index listed Finnish companies. Firms' risk disclosures are analysed in terms of their quantity and coverage. We focus on two board characteristics not examined in prior related literature: (1)...

Using a large proprietary data set from the internal records of the Finnish Tax Administration for the fiscal year 2011, we examine the factors that trigger adjustments by the tax authority to the taxable income reported by around 25,000 small private companies. Using that data, we develop a new...

This study investigates the extent to which the pressures from outside stakeholders, specifically the providers of debt and trade credit, as opposed to owner-managers' internal needs explain the use of voluntary audits in micro-companies. Whereas previous studies have mainly focused on how bank...

The usefulness of segment reporting is grounded on the presumption of diversities of returns and risks across reported segments. We examine the effect of country-specific factors, reporting incentives and choices on an ANOVA-based measure of cross-segment diversities (CSD) in risk and returns...

This paper examines whether reported cash flows from operating, investing and financing activities coincide with corresponding cash flows estimated from firms' income statements and balance sheets. The findings obtained from a sample of listed Finnish firms for 1995-1997 are the following. (i)...