Financial Reporting Standard No3 (FRS 3): Reporting Financial Performance, which came into force in 1993, increased UK firms' discretion in classifying exceptional items. We examine how this increased discretion affected their use of classificatory smoothing and inter-temporal smoothing through...

We examine how the criteria for choosing estimation samples affect the ability to detect discretionary accruals, using several variants of the Jones (1991) model. Researchers commonly estimate accruals models in cross-section, and define the estimation sample as all firms in the same industry....

This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed,...

The notion of ‘planetary boundaries’ is rapidly diffusing into a range of policy arenas and has clearly stimulated a discussion on the need to reform international environmental governance. This article summarizes the special section “Global Environmental Governance and Planetary...

Planetary boundaries and their interactions pose severe challenges for global environmental governance due to their inherent uncertainties and complex multi-scale dynamics. Here we explore the global governance challenge posed by planetary boundaries interactions by focusing on the role of...