In the European Union the goal of transition towards a carbon-neutral economy by 2050 is identified as a major aim of the European Commission. The integral role of the financial services sector in funding such investments and enhancing the (re-) direction and allocation of capital flows towards...

In this paper we examine the association of audit fees with disclosures regarding internal control effectiveness under Section 302 of the Sarbanes Oxley Act of 2002 (SOX). In contrast to previous studies, we focus on non-accelerated filers, whose eventual compliance with the costly provisions of...

This paper investigates the interrelationships between several external social institutions and related party transactions disclosure across 49 countries. A theoretical framework is proposed to encompass the interrelationships between cultural values, legal environment, government intervention...

This paper examines economic consequences of a 2006 Securities and Exchange Commission regulation that mandated public firms to disclose their governance policies on related-party transactions (hereafter RPTs). Employing hand-collected RPT data for S&P 1500 firms, we find that the initiation of...

This paper examines whether common ownership – i.e., instances where investors simultaneously own significant stakes in competing firms – affects voluntary disclosure. We argue that common ownership (i) reduces proprietary cost concerns of disclosure, and (ii) incentivizes firms to...

This paper investigates the impact of Environmental, Social, and Governance (ESG) disclosure by companies around the world on market value. Using a large sample of non-financial companies listed in 38 countries during the period 2008-2012, we test for value relevance by employing the modified...

Demand for disclosures on environmental, social and governance (ESG) issues has increased dramatically. Using corporate political spending disclosures as our setting, we conduct a detailed inquiry of 541 political spending-related shareholder proposals from 2004 to 2012 to highlight the role of...

Customer value creation (CVC) in contemporary companies is a complex process. It embraces customer service, physical evidence, and image associated with the company. The image of a company is now partially created by corporate society-oriented activities. The process of CVC and corporate social...

This study examines the impacts of mandatory adoption of International Financial Reporting Standards (IFRS) and corporate governance on accounting accruals in the UK and Germany. There has been a long debate on whether mandating a single set of high quality accounting standards, i.e. IFRS, leads...