Does earnings management, even though legal, hinder investor trust in reported earnings? Or do investors regard earnings management as a way for firms to convey private information, or simply as a neutral feature of financial reporting? We find that past abstinence from earnings management...

The International Financial Reporting Standard (IFRS) 15, ‘Revenue from Contracts with Customers’, became effective for National Health Service (NHS) bodies from the annual period beginning 1 April 2018. NHS Foundation Trusts, as part of UK public sector organisations, adopted IFRS for their...