Using a sample of 500 large companies over a two-year period, we examine the impact of board characteristics on opportunistic earnings management in India, a large emerging economy. In addition to board independence, we analyze how characteristics that proxy for the 'quality' of inside and...

Market regulators, commissions and accountancy bodies have recommended the establishment of audit committees as an important step in improving corporate governance. In 2002 the Kenya Capital Markets Authority required all listed companies to establish audit committees. This study examined the...

Using a large sample of earnings announcements made by firms belonging to Korean chaebols, we examine propping (i.e., negative tunneling) within a chaebol. Consistent with the market's ex-ante valuation of intra-group propping, we find that the announcement of increased (decreased) earnings over...

In their joint framework project, the FASB and the IASB recently proposed dropping stewardship as one of the objectives of financial accounting, because the Boards view stewardship and valuation usefulness as compatible sub-objectives ranking under an overall objective of decision usefulness....

This study allows insights into the effects of economic state variables on asset values. We use a global sample of oil and gas sector assets to demonstrate that global differences in state participation terms cause oilfield asset values to respond differently to oil price shocks. Our sample...

When annual earnings are regressed on annual returns, the returns coefficient is higher when returns are negative. The difference between the coefficients of earnings on positive and negative returns is called asymmetric timeliness of earnings and, in the accounting literature, is used...

This paper investigates whether Italian companies that cross-list in the United States between 1993 and 2005 show (i) a change in their internal policies as anticipated by the bonding hypothesis, (ii) an increase in market value, or (iii) an increase in the access to capital funds. We use the...

In this paper we empirically evaluate the widespread belief of managers that income smoothing results into lower stock market risk. Multivariate regressions confirm that a negative relation exists between discretionary income smoothing and idiosyncratic volatility. Further analysis indicates...

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...

This paper examines the determinants, the current signal effect and the long-term one from the timeliness of the annual report with the proxy of the short term signal effect and the information transparency next period respectively with the data from the A Stock Market in China from 2004 to...