We investigate whether and if so, how, corporate governance 'quality'<link rid="fn2">-super-1</link> is related to the information flows from a company and how the share market and its agents respond. Specifically, we study links between the 'quality' of a firm's corporate governance (CGQ) and the informativeness of...

This paper examines the links between accounting quality, proxied by earnings timeliness and conservatism, and the composition of the board of directors. Results indicate that firms with a higher proportion of outside board members are more likely to recognise bad news in earnings on a timely...

<title>ABSTRACT</title> This paper is a response to the exposure draft of proposed amendments to IAS 1 Presentation of Financial Statements published by the International Accounting Standards Board (IASB) in March 2006. The objective is to bring to the standard setter's attention research that is relevant to...

The internal rate of return (IRR) is a widely used benchmark for assessing the reliability of the accounting rate of return (ROA) as a measure of economic profitability. We turn this reasoning process on its head by demonstrating that a suitable (weighted average) aggregation of ROAs better...

Following the work of Basu in 1997, the excess of the sensitivity of accounting earnings to negative share return over its sensitivity to positive share return (the Basu coefficient) has been interpreted as an indicator of conditional accounting conservatism. Although this interpretation is...

Previous research has argued that the degree of co-movement of stock returns (the R² of a market regression) at country-level can be explained by the interaction of firmspecific and market-wide information. The R² measure has been used to investigate a number of issues of potentially great...