We examine earnings management around the annual general meeting (AGM) and assess the influence of managerial entrenchment. Consistent with prior research, we show positive and statistically significant abnormal returns surrounding AGMs regardless of the level of managerial entrenchment. We find...

This paper examines whether the quality of stock analysts' forecasts is related to conflicts of interest from their employers' investment banking (IB) and brokerage businesses. We consider four aspects of forecast quality: accuracy, bias, and revision frequency of quarterly earnings per share...

We investigate whether auditor's mandatory rotation affects audit quality. In specific, we test the effectiveness of Ministry of Finance's (MOF) decree no. 423/2002. Following some other studies that investigate audit quality, we use discretionary accruals as the proxy for audit quality. Our...

In the last three decades, corporate governance and reporting have been confronted to a drift toward shareholders' primacy and value, and the revival of old-fashioned proprietary views against entity views on the business firm. This paper develops an accounting perspective of the relationship...

The most recent financial crisis has spurred a number of mergers and acquisitions in the financial industry, specifically banks. This study examines the hypothesis that mergers and acquisitions did not produce better performing institutions and industries during the 2006 to 2008 period. Data...

Using 196 Malaysian public listed firms, the study investigates the inter-relationship between executive compensation, earnings management and over investment. Although there is no evidence that executive directors enhance their compensation packages through earnings management, there is a...

Corporate-level fraudulent activity has instilled a state of concern and heightened awareness in investors, the media and employees alike as perceived sensitivity to illegal behavior continues to increase. With corporate giants such as Enron, Tyco and Health South being prime examples of this...

This study investigates the role of financial reporting quality in merger and acquisition (M&A) deals that are ultimately terminated, (i.e., go bust). If a target is a U.S. publicly-traded company, an acquirer's initial assessment of the potential benefits associated with the acquisition of the...

The primary objective of this study is to construct a valid and reliable instrument to quantitatively measure the quality of internal audit function via level of conformance by internal auditors towards the International Professional Practice Framework (IPPF). Two separate pilot tests were...

In this study, I summarize the current state of executive compensation, discuss measurement and incentive issues, document recent trends in executive pay in both U.S. and international firms, and analyze the evolution of executive pay over the past century. Most recent analyses of executive...