The Polish government has preferred gradual direct sales to privatisation initial public offerings (PIPOs) by a 2.8 to 1 margin. Evidence suggests that the government has attempted to manage the timing of PIPOs. We, however, find no evidence of underpricing of PIPOs to a greater degree than that...

In this study we examine earnings management in public listed firms within 15 EU member states plus two non-EU members, namely Switzerland and Norway. In 10 of the countries included in our sample, provisions were made to allow firms to use international accounting standards (IAS/IFRS) well...

Since their inception in 2000, employee stock options (ESOs) in Taiwan have grown in popularity and captivated market stakeholders. Previous studies have explored how ESOs serve as an incentive to stimulate both employees and management, and hence lead to better performance. If this is true,...