The present survey article formed the basis of a presentation by G. Richardson to the 8 July 2003 plenary session of the Accounting and Finance Association of Australia and New Zealand Conference in Brisbane, Australia. The present article reconciles the historical and forecasting branches in...

We document that labor unionization rates are associated with lower levels of managerial overinvestment and underinvestment for a sample of 3,731 U.S. publicly traded firms over the period 1983-2013. This result is consistent with the explanation that labor unions can play a governance role in...

Prior research on the cross-country variation of accounting choices induced by managerial incentives to extract private benefits is limited in its use of accounting measures that have limited empirical correlations with direct estimates of private control benefits. This study attempts to resolve...

This study documents that the perception of high private control benefits in firms induces them to disclose private information about future earnings and cash flows through the practice of earnings smoothing. It also shows that this relationship is non-linear in nature. At low levels of...

This study focuses on the association of voluntary compensation disclosure and ownership structure. It provides evidence that the detachment of control and cash flow rights in dual class share firms is associated with lower levels of compensation disclosure. This association is incremental to...

This study examines whether outside directors factor in litigation costs for the firm while monitoring optimal disclosure policy. It investigates the association of management earnings forecast disclosure and the proportion of outside directors across two regimes with unequal litigation costs -...