In 2013, the Financial Reporting Council (FRC) in the UK mandated independent auditors to provide an expanded audit report to disclose the risks of material misstatement and application of materiality. This paper examines the information content and economic consequences of the expanded...

Purpose – This paper examines whether and how females on the board of directors affect US-listed companies’ merger and acquisition (M&A) decisions. Specifically, the paper concerns the impact of females in the boardroom on the likelihood and type of M&A deals (i.e., foreign vs domestic...

Purpose – This paper examines the effect of family ownership on the payment method of mergers and acquisitions (M&A) deals. It also investigates the market reaction around the announcement of these M&A deals.Design/methodology/approach – Archival data of M&A deals of a sample of Taiwanese...

This paper examines whether and how bidders' conservative tone in 10-K filings influences the subsequent mergers and acquisitions (M&A) investment decisions of these US firms from 1996 to 2013. Based on 39,260 firm-year observations, we find, consistent with behavioural consistency theory, that...

This paper examines whether firms’ deviation from target leverage may predict types and outcomes of mergers and acquisitions (M&A) deals. We find that over-levered firms are more inclined to be involved in public acquisitions than non-public acquisitions. Consistent with the proposition of...