Prior research shows that family firms have better earnings quality than non-family firms in common-law countries and highly developed markets. In contrast, we do not find a significant difference in the financial reporting quality between family and non-family firms in the context of a...

Prior studies indicate that warranty reserves present two major aspects: a contingent liability and an information signal about growth prospects. In addition, managers use warranty accounting as a tool of earnings management to meet or beat earnings targets. In this paper, we hypothesize that...

The paper examines syndicated loan market to study whether and how borrowers' meeting or beating analysts' expectations (MBE) have more favorable debt contractual terms. Using a sample of listed loan firms in Dealscan database during 1998-2009, we find that, as predicted, firms missing analysts'...

We hypothesize that if individual auditors possess unique audit styles that they consistently apply to different audit engagements, then client firms with a common signing auditor will exhibit higher earnings comparability. Using a large sample of Chinese firms, we find that client firms report...

This study examines whether voluntary disclosure enhances investment efficiency through its information-leveling role in the capital markets. We argue that investment efficiency improves with the quality of managers’ past earnings forecasts because past forecast quality alleviates information...

The unique institutions in Taiwan may add to our understanding of the effect of initial public offering (IPO) firm disclosures. Consistent with the notion of market mispricing, most of Taiwan's IPOs were with consecutive up-limit hits followed by substantial price reversals. In this study, we...