Purpose – The purpose of this paper is to investigate, using data on US manufacturing firms, how and when corporate governance affects managers' decisions to use discretionary accruals and thereby artificially influence company financial reports. Design/methodology/approach – Three‐stage...

Purpose – The purpose of this paper is to investigate, using data on US manufacturing firms, how and when corporate governance affects managers' decisions to use discretionary accruals and thereby artificially influence company financial reports. Design/methodology/approach – Three-stage...

The relationship between personal and firm bankruptcy is intuitively understood but has not been previously studied. When a person files a bankruptcy petition they reduce their spending on goods and services sold by companies. Similarly, when a firm files for bankruptcy some employees lose their...

Purpose – Early warning models are a widely employed development in modern finance. A good early warning model predicts with a high degree of accuracy the likelihood that a healthy company will either go bankrupt or become financially distressed. Now that B2B companies supply products...

Globalization has precipitated movement of output and employment between regions. We examine factors related to corporate financial distress across three continents. Using a multidimensional definition of financial distress we test three hypotheses to explain financial distress using historical...

For the most part, research purporting to address the issue of financial distress has actually studied samples of bankrupt companies. Financial distress and bankruptcy are different. In contrast, this paper starts with a sample of companies that are financially distressed but not yet bankrupt....

This paper considers whether real estate will ever again be a good place for the average American homeowner, investor, or speculator. Looking at the rate of change in real estate prices over the past few decades and the rate of inflation one sees a correspondence. The faster the rate of change...

This book takes an entirely new look at how companies ought to be managed. It argues that managers need to focus on how corporate decisions affect the firm's cash. The author, who is well known in the fields of management and crisis management, suggests that companies that follow the paradigm...

The labor studies literature has for many years accepted the labor hording theory. That theory derives from Journal of Financial Transformation seminal work by Oi (1962), Miller (1971), and Fair (1985). These studies argue that as a result of the absolute cost of hiring and training certain...