We examine the impact of continuous disclosure regulatory reform on the likelihood, frequency and qualitative characteristics of management earnings forecasts issued in New Zealand's low private litigation environment. Using a sample of 720 earnings forecasts issued by 94 firms listed on the New...

Purpose ? The purpose of this paper is to jointly assess the impact of regulatory reform for corporate fundraising in Australia (CLERP Act 1999) and the relaxation of ASX admission rules in 1999, on the accuracy of management earnings forecasts in initial public offer (IPO) prospectuses. The...

Purpose – The purpose of this paper is to jointly assess the impact of regulatory reform for corporate fundraising in Australia ( CLERP Act 1999) and the relaxation of ASX admission rules in 1999, on the accuracy of management earnings forecasts in initial public offer (IPO) prospectuses. The...

We examine the influence of three important external corporate governancemechanisms – continuous disclosure regulatory reform, analyst following andownership concentration and one important internal corporate governance mechanism – board structure on the likelihood, frequency, horizon,...

Since the introduction of a statutory‐backed continuous disclosure regime (CDR) in 1994, regulatory reforms have significantly increased litigation risk in Australia for failure to disclose material information or for false and misleading disclosure. However, there is almost no empirical...

This study investigates the impact of changes to the New Zealand Exchange's listing rules and legislative amendments to the Securities Markets Act 1988 enacted in December 2002. The reforms provided statutory backing for a more stringent disclosure regime. We find evidence that non-dual listed...