Firms have tendency to window dress their financial statements by reporting earnings to achieve reference points represented by <italic>N</italic> × 10<italic> -super-k </italic>. Such practice of reporting rounded earnings is likely due to (1) firms may believe that investors perceive a reported earnings of $1.99 million to be...

Conventional studies assume that inside management plays a major role in corporate governance and argue that foreign institutional investors may lack incentives to monitor invested firms due to their short-term profit orientation. By utilizing 650 observations of Taiwan banks, this study...