This paper extends the literature on the determinants of environment, social and governance (ESG) dimensions of sustainability investment by examining whether low growth firms with the agency problems of high free cash flows (FCF) (Jensen, 1986) have more incentives to invest in ESG...

While prior studies have explored auditors' collective reputational losses following audit failures at either the firm or office level when only the audit firm/office identities are publicly available, there is relatively little evidence regarding what happens when individual partner information...

This study examines the effect of a restatement on auditor's reputation as evidenced by any changes in the market value of the auditor's clients and the audit fees in the subsequent year. We find that firms sharing the same auditor as the restatement firms report a negative abnormal return...

This paper extends the output growth model tested by Levine and Zervos (1998) by including a measure for capital allocation efficiency proxied by stock price informativeness. Using a sample of 62 countries, this study finds that stock price informativeness as measured by firm-specific return...

While the global auditing services market is presently dominated by a group of four auditing firms (Big Four) namely Deloitte, Ernst & Young (EY), KPMG and PricewaterhouseCoopers (PwC), the auditing profession in Malaysia offers several exceptions in the audit of public-listed companies (PLCs)....

This study investigates the association between analysts' forecast properties (accuracy and dispersion) and audit fee pricing in U.S. publicly listed firms for years 2000 to 2012. Our findings provide evidence that analysts' earnings forecast accuracy (dispersion) is negatively (positively)...

The relationship between exorbitant chief executive officer (CEO) compensation and weak performance has been widely criticised as an abuse of managerial power and the intrusion of agency problems. This study examines whether the agency problem of free cash flow (FCF), identified by Jensen...

We find a strong evidence that firms reduce cash effective tax rate when economic policy uncertainty heightens. Firms also engage in more aggressive forms of tax avoidance including long-term tax planning or shelters. Cash holdings attenuate the negative effect of policy uncertainty on cash...