Showing 1 - 10 of 49
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...
Persistent link: https://www.econbiz.de/10005294746
Recent theoretical work argues that information risk is a non-diversifiable risk factor that is priced in the capital market. Using accruals quality to proxy for information risk, <link rid="b15">Francis et al. (2005)</link> provide empirical support for this argument using a sample of US firms. This paper re-examines...
Persistent link: https://www.econbiz.de/10005242331
We examine whether accrual earnings quality is a priced information risk factor in a dividend change setting. We define information risk as the probability that firm-specific financial statement information pertinent to investor pricing decisions is of low precision, and use the factor-mimicking...
Persistent link: https://www.econbiz.de/10005658674
Persistent link: https://www.econbiz.de/10005540992
Persistent link: https://www.econbiz.de/10011202805
Persistent link: https://www.econbiz.de/10011205252
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...
Persistent link: https://www.econbiz.de/10005659174
This study examines the rarely investigated association between institutional ownership and income smoothing. The results support the predicted positive association between institutional ownership and the likelihood of firms smoothing earnings towards their earnings trend in general. However,...
Persistent link: https://www.econbiz.de/10008671876
Recent debates on the corporate governance role of institutional investors have centred around whether they monitor their portfolio firms (exercise voice) or vote with their feet (exit). We examine these competing views in the context of how institutions' voice vs exit role, proxied by...
Persistent link: https://www.econbiz.de/10005672353
Persistent link: https://www.econbiz.de/10005429206