This paper investigates the association between corporate governance and the disclosure of non-GAAP earnings measures in quarterly earnings announcements. The results reveal that the previously documented decrease in the probability of disclosure of non-GAAP earnings after Regulation G is lower...

Previous studies (e.g., Sun and Tong, 2003; Wang et al., 2004) show that Share Issue Privatization (SIP) in China did not improve the profitability of State-owned Enterprises (SOEs). This is puzzling given that SIP improves firm profitability almost around the world and China's economic reform is...

In this paper we focus on the conflict of interests among shareholders as a possible determinant of earnings management. Using a sample of 3,559 listed firms from the United States, Canada, the United Kingdom, France, Spain, and Italy between 2008 and 2013, we analyse how the distribution of...

This paper investigates whether foreign institutional investors affect the global convergence of financial reporting practices. Using several measures of reporting convergence, we show that U.S. institutional ownership is positively associated with subsequent changes in emerging market firms'...

Corporate governance literature advances the idea that certain aspects of board of directors' structure improve monitoring of managerial decisions. Among these is the managers' decision to manage earnings. Prior studies have shown that earnings management, in widely-held public companies, is...

This report updates and expands earlier studies to look at the profitability of $349.7 billion of buybacks executed from 2000 through early 2010 by a sample of 275 corporations. The sample companies, drawn mainly from the technology sector, enjoy total equity market value today of $945.6...

National Semiconductor states that its stock repurchase program's goal is to contribute to increasing the firm's return on invested capital for the benefit of shareholders and employees. Which measure of return on capital is National watching? A review of four return on capital ratios suggest...

This report expands through early 2011 studies of the raw performance (profitability) of $383.5 billion of buybacks executed since 2000 by a sample of 252 corporations. The sample companies, drawn mainly from the technology sector, enjoy total equity market value today of $1.240 trillion. 69.8%...

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...

Columbia University's Center for Excellence in Accounting and Security Analysis (CEASA) recently distributed Stephen Penman's June 2009 paper, “Accounting for Intangible Assets: There is Also an Income Statement”. Penman acclaims accounting's “brilliance” and provides a reasoned argument...