Transfer pricing is an important managerial decision in a decentralized firm. Analytical research has proposed that different transfer pricing methods are better for different information circumstances in a firm. For example, when information asymmetry is high, the information advantage of the...

This study investigates the effects of venture capital investments on corporate governance and financial stability of IPO-firms in the emerging markets. We find that VC-backed firms have less agency problems related to excess control than non-VC-backed firms at the time of IPO, and venture...

This study examines the association between financial restatements and executive option repricings and tests whether stock option repricing reduces management turnover in restating firms. We found a positive association between financial restatement and management turnover and those financial...

This article investigates the relationship between management voluntary disclosures of cash flow forecasts and external financing policy, earnings management, earnings forecasts and executive stock option compensation. We find that management is more likely to issue cash flow forecasts when a...

Ohlson (1995) develops an equity valuation model based on the framework of dividend irrelevance proposition proposed by Miller and Modigliani (1961). He claims that a dividend payout lowers the current book value of equity but not the current earnings, and thus a firm's current market value is...