We construct a Corporate Governance Index for 500 large listed Indian firms for the period from 2003 to 2008 in this paper. The index construction uses information on four important corporate governance mechanisms: the board of directors, the ownership structure, the audit committee, and the...

Using a sample of 500 large companies over a two-year period, we examine the impact of board characteristics on opportunistic earnings management in India, a large emerging economy. In addition to board independence, we analyze how characteristics that proxy for the 'quality' of inside and...

Several comparative cost management studies in Japan and the U.S., have suggested the superiority of long term managerial contracts using future-oriented measurements in reducing costs and increasing value. In this paper, we show that the optimal length of the contract offered a manager is...

We show that firms that adopt poison pills exhibit higher asymmetry between reported earnings and stock returns after the adoption and a greater association between reported current earnings and lagged returns. Together, this demonstrates a decreased value-relevance of earnings after adoption....

In this paper, I examine the existence of earnings surprise anomaly for a sample of actively traded stocks in the Bombay Stock Exchange during 2001-2006. I also examine if sophisticated institutional investors, in particular transient investors, exploit the earnings surprise anomaly. My results...