We examine the link between related party transactions (RPT) and firm performance, and also whether RPT in family firms are more likely to be used opportunistically to expropriate minority shareholders, hence lower the firm performance. Using regression analysis of 462 Malaysian companies, we...

In 2006, Hong Kong's Court of Appeal had to decide whether it was lawful for an employer to deliberately adopt a strategy to avoid having to make a statutory payment to an employee. The employer's liability to make that payment was contingent on the employee completing a prescribed period of...

The investor composition in the US stock market has been undergoing a dramatic shift towards greater institutional ownership. In this paper, we show that the increase in the stock ownership by institutions over time, especially those with focus on short-term performance, is positively related to...

By employing two alternative measures of fundamental value, we re-examine the value relevance of accounting information over time. Consistent with some recent studies (e.g. Dontoh et al. 2007), we do not find evidence on the temporal decline in R-squares of conventional value-relevance...

Despite the obvious impact of the CFO and the CEO on a firm's financial statements, there is limited empirical evidence on whether and how the personal characteristics of senior management are associated with earnings management. We provide empirical evidence on the relation between earnings...

Customer referencing refers to the phenomenon whereby a firm discloses its connections with reputable customers in order to improve its own reputation. Consistent with this disclosure increasing investor attention and providing customer certification, we find that supplier firms enjoy a lower...

This study examines how PCAOB international inspections of non-U.S. auditors affect international Merger and Acquisition (M&A) outcomes. We find that clients of inspected auditors are more likely to become acquisition targets after the public disclosure of auditor's inspection report. We also...

We exploit the staggered recognition of the Inevitable Disclosure Doctrine (IDD) by US state courts to examine the effect of trade-secret protection on the amount of firm-specific information incorporated in stock prices, as reflected in stock price synchronicity. We find that after certain...

This study examines the effect of analysts' activities after earnings announcements on the magnitude of the post-earnings-announcement drift. Using the level of private information precision in analysts' earnings forecasts after earnings announcement derived from Barron, Kim, Lim and Stevens...