When investors have limited attention, does the way in which net income is measured matter for firm value and firms’ resource allocation decisions? This paper uses the Accounting Standards Update (ASU) 2016-01, which requires public firms to incorporate changes in unrealized gains and losses...

Private equity (PE) funds are increasingly important to the economy and now dominate capital markets (e.g., capital formation). However, lack of understanding of PE funds among accounting academics currently prevents accounting research in this area. In this paper, we first describe the PE fund...

We examine variation in the reporting quality of private equity funds, in particular buyout and venture capital funds, relative to external monitoring, third-party service providers, and fund attributes. In contrast to evidence from public markets, we find limited evidence that investors affect...

U.S. stock exchanges and lawmakers rely on audit committees to help safeguard the accuracy and reliability of corporate GAAP and non-GAAP financial information. However, there are gaps in our knowledge of how audit committees perform, especially with respect to companies' non-GAAP financial...

I have designed a valuation method adjusted to the specific characteristics of Spanish professional soccer clubs under the hypothesis that clubs behave financially reasonably. I analyse the factors that define the context where soccer business takes place. I have built a conceptual model that...

This is the first study to establish a link between product market power of firms and the degree of earnings management. We hypothesize and document a significant and robust association between (a) a firm’s product market pricing power and its degree of earnings management, and (b) industry...

Understanding and the interpretation of financial statements is an important factor for economic entities, for making the right decisions. Nowadays, more and more is noticed the general tendency of the harmonization of the Directive IV of the European Committee with International Financial...

This paper tells the story of a student of economics and finance who meets a couple of alleged psychopaths, suffering from the ‘syndrome of Zelig’, so that they think of themselves to be experts of economic and financial issues. While speaking, they come across the concept of excess profit....

We analyse to what extent the accrual anomaly is related to the choice of the accounting system as well as firm-level heterogeneity in corporate governance mechanisms. Using a unique dataset of listed German firms over the period 1995 to 2005 we first corroborate former results indicating that...