Research questions the rigor and objectivity of analysts' research due to the institutional structures in which they operate (Fogarty and Rogers, 2005 Accounting, Organisations and Society). However, insights from psychology highlight the need to condition this conclusion on the incentives for...

Voluntary disclosures convey information through two channels: 1) the direct revelation channel in which the disclosed body of information is used to update beliefs, and 2) the signaling channel in which inferences are drawn from the fact that the firm chose what information to disclose. I study...

The purpose of this paper is to investigate the effect of stock recommendations in returns for Brazilian public companies. Using data from the I/B/E/S system, we examine the empirical distribution of buy, sell and hold recommendations as well their effect on prices, for the period from January...

This study investigates the determinants of goodwill impairment decisions by firms applying IFRS based on a comprehensive sample of stock-listed firms from 21 countries. Multivariate logistical regression findings indicate that goodwill impairment incidence is negatively associated with economic...

Based on a sample of Chinese listed firms from 1998 through 2002, this paper documents that listed firms prop up earnings by using abnormal related sales to their controlling owners. Such related sales propping is more prevalent among state-owned firms and in regions with weaker economic...

The article is devoted to the problems of the financial statements analysis, using the method of financial ratios. The choice of the main financial ratios is made having in mind peculiarities of the Russian Federation extractive industries. The recommended standard values of financial ratios are...

We propose that due to financial market pressures, managers are forward-looking in their search and decision processes and focus on meeting performance targets set by the financial community. Using panel data on S&P 100 companies, we find that pressure felt by management to meet the analyst...

Internal audit (IA) is theoretically considered a key element of modern corporate governance. Surprisingly, the existing knowledge on IA and its relation to the internal corporate governance structure is miscellaneous and rare. Consequently, empirical findings on the internal audit function...

Despite a substantial literature linking industry concentration, proprietary costs and disclosure, existing evidence is mixed. We discuss three challenges to the literature: lack of strong theoretical predictions, difficulty in measuring relevant aspects of industry concentration and difficulty...