Both the magnitude and signs of discretionary accrual (DACC) should be considered when examining its impact on firm-specific risk. In this study, we show that only overvalued firms that have positive DACC exhibit low firm-specific information and high price crash risk. We also investigate...

Purpose: This study examines the moderating impact of corporate governance quality on the relation between CEO bonus compensation and accounting conservatism. Design/methodology/approach: We use market-based and accrual-based measures to estimate accounting conservatism. According to prior...