Purpose – This paper aims to investigate the relationship between board of directors' independence and executive compensation disclosures transparency. Design/methodology/approach – The paper examines compensation disclosure practices of a sample of 181 firms listed on the Toronto Stock...

Purpose – Accounting research has emphasized target and bidder managers' incentives to manipulate earnings during corporate control contests. However, prior studies examining earnings management by takeover targets have obtained mixed results. Moreover, the existing evidence is mainly based on...

Assessing the fundamental value of a firm is a difficult task. Theoretically, the market price is exogenous and should not be used in the estimation. We performed a simple experiment to pinpoint whether the price is used in fundamental value calculation. Subjects were given similar information...

We test hypotheses on herd behavior in a simple investment decision through an experimental setting. Subjects were given some fundamental information about a specific firm and asked for a recommendation, buy or sell. This personal judgment was then confronted to the opposed consensus of...

Do socially responsible firms benefit from ethical goodwill? On the one hand, taking externalities into account can be a competitive disadvantage. On the other hand, financial benefits may result from ethical behavior. Thanks to a worldwide dataset of ESG ratings (MSCI ESG ratings), we examine...

The paper addresses the link between the social component of corporate social responsibility and market value of equities. Preceding results on this topic are, to our knowledge, still scarce and not really conclusive. Using a both rich and worldwide dataset, Asset4 – Thomson Reuters, we find...