shareholders demand conservatism? We find that higher ownership by institutions that are likely to monitor managers is associated … conservatism are greater. Further, lead-lag tests of the direction of causality suggest that ownership by monitoring institutions … institutions demanding conservatism …

This study assesses the relationship between the likelihood of future stock price crashes and conservatism … reveals that firms with a greater degree of conservatism witness a significant reduction in crash risk after accounting for … the literature on conservatism, revealing that conservatism diminishes the ability of managers to withhold unfavorable …

variation in conditional conservatism. The contracting theory of conservatism holds that conditional conservatism is an … the contracting theory links debt structure and conservatism. Also, our evidence suggests that the effect of debt on … conservatism can be under or over-stated when firms, or sub-samples of firms, have heterogeneous debt characteristics …