We examine the twin roles of accountability and value enhancement of corporate governance in the context of financial reporting. We investigate the accountability role by examining the association between governance structures and abnormal accruals, and the value enhancement role by...

We exploit a unique opportunity to examine whether goodwill impairment write-offs reflect firms' investment opportunities during the first years of the US goodwill impairment accounting regime. We find that impairment write-offs are negatively associated with firms' underlying investment...

type="main" xml:id="acfi12014-abs-0001" <title type="main">Abstract</title> <p>Liu and Strong (2008) note that researchers often employ a simple (but incorrect) averaging approach that induces significant error into estimated buy-and-hold portfolio returns. This study explores the additional challenges that arise when stocks...</p>

This paper examines evidence of predictability in Australian equities using both statistical and economic metrics of significance. A probit-based predictive model is used to forecast the probability that the 1 month ahead excess market return will be positive. Funds under management are then...

Prior studies of the Australian Rugby League betting market report a degree of predictability well in excess of that attributable to chance. However, two important recent changes in the structure of the market facilitate an unambiguous assessment of the statistical significance of predictability...