This article uses the Canadian environment, where French civil law in the province of Quebec coexists with common law in the rest of Canada (denoted as bijural), to test the thesis of the neutrality of the legal system with regard to financial reporting quality. This single-country design allows...

In the wake of the financial crisis, Credit Rating Agencies (CRAs) have been criticized for having played a significant role in the market turmoil. Numerous reports have identified failures on the part of CRAs that have affected the quality and integrity of the rating process. In light of the...