This study examines whether accruals models' performance, in terms of predictive accuracy and power to detect earnings management, varies across strongly heterogeneous samples, such as different countries. We analyze the performance of two accruals estimation models, i.e., the Modified Jones...

This paper empirically tests the principal-agent model prediction that the use of performance measures for incentive purposes is affected by the agent's risk aversion. We identify proxies for managerial risk aversion that can be measured using publicly available executive compensation data and...

This report consists of two parts. The first part is a research note describing a comprehensive analysis of the realized return differential between small and large firms (i.e., the "size premium") in a sample of European stocks during the period between 1990 and 2018. This study establishes...