Statistics reporting litigated cases of fraud on an exchange-by-exchange basis are not readily available to investors … – Canada, the United Kingdom and the United States – to show litigated cases of fraud significantly vary by country, and the …-of-sample inferences. The data examined suggest there are significant differences in the nature of observed fraud across exchanges within …

decreasing firm risk. The mechanisms that transmit incentives to decisions and decisions to risk appear to be more conservative …

We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via …

This paper examines the relation between tournament incentives and reserve management. We find a positive relation … between internal tournament incentives and reserve errors, implying that a larger pay gap as a tournament prize induces vice … profitability. In addition, we find the impact of internal tournament incentives on the reserve error is more pronounced for larger …

aversion, resulting in lower return investment choices. Therefore, we assess whether incentives associated with stock option … greater risk aversion rather than excessive risk-taking. Overall, our results imply that risk-taking incentives (i.e., vega …