Showing 231 - 240 of 242
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...
Persistent link: https://www.econbiz.de/10013077682
Persistent link: https://www.econbiz.de/10013389402
Persistent link: https://www.econbiz.de/10014491154
Persistent link: https://www.econbiz.de/10014251901
Persistent link: https://www.econbiz.de/10014280993
Using a sample of US firms from 1988 to 2000, we find a strong positive (weak or no) association between auditor tenure and earnings quality in client firms whose demand for unique client-specific knowledge is higher (lower). These results are consistent with the idea that learning the unique...
Persistent link: https://www.econbiz.de/10013144742
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...
Persistent link: https://www.econbiz.de/10013044674
Persistent link: https://www.econbiz.de/10014482996
Persistent link: https://www.econbiz.de/10014487009
In this study, we document that independent corporate boards of Hong Kong firms provide effective monitoring of earnings management, which suggests that despite differences in institutional environments, corporate board independence is important to ensure high quality financial reporting. The...
Persistent link: https://www.econbiz.de/10014207197