We study the influence of the corporate board network on executive pay for 3,395 US firms over the period from 1990 to 2015. Drawing on structural anthropology and social exchange theory, we identify three elementary structures through which the interlocking network captures an obvious form of...

This paper investigates European stock market reaction to events associated with the proposed EU audit reforms that were ultimately implemented in 2016. These include, inter alia, mandatory audit firm rotation, prohibition of non-audit services and fee caps. We find that investors reacted...

The overconfidence literature employs activity metrics such as account turnover and trade frequency to link misattribution/self-attribution to excess trading. In this paper we argue relative position size is a more meaningful indicator of overconfidence. Using a sample of retail traders, we find...

We construct an interlocking-directorship network and we use social network and graph theory to identify firms that have access to a wider diversity of information, early access to that information and more control over information diffusion. We examine whether, as predicted by the theory, these...

Using a sample of 42,376 board directors and 10,508 security analysts we construct a social network, mapping the connections between analysts and directors, between directors, and between analysts. We use social capital theory and techniques developed in social network analysis to measure the...

We investigate how the increasing use of automated model-based credit scores and the inevitable devaluation of private information channels affect private firms’ earnings management choices. Our analysis shows that credit-scoring algorithms may not be as sophisticated as expected since they do...

We examine the impact of informational and social analyst team diversity on forecast performance. We find that informational diversity is associated with less timely forecasts, whilst it is associated with more accurate forecasts. These findings are consistent with the group dynamics literature...

We study how career concerns influence banking analysts' forecasts. Banking analysts' first (last) earnings forecast of the year is relatively more optimistic (pessimistic) for a bank that could be their future employer. This pattern is not observed when the same analysts forecast earnings of...

'Fair value' is currently the central topic of debate in the development of accounting standards. While it has now been defined to mean an exit price in US GAAP, the IASB is still considering its own definition, and some commentators are arguing for versions of entry price, or for differing...