The relationship between dividends and corporate governance in five East Asian countries over the period 1994-2003, comparing the outcome and substitute models, is investigated. Evidence of a pre-crisis negative relationship between dividends and governance indicates that dividends act as a...

We investigate the incentives that misvaluation creates for: (1) insider trading; and (2) concurrent earnings management through both accruals and real activities. Managers of overvalued firms have an incentive to sustain overvaluation through income increasing earnings management and, at the...

Purpose – The purpose of this study is to investigate explanations for the behaviour of the size premium using measures of large and small stock holdings of mutual funds. Design/methodology/approach – Returns‐based style analysis is used to measure asset class exposure by regressing equity...