We develop a model in which there is conflict of interest between the management and the shareholders of an organization. Incompleteness of contracts prevents a simple contracting solution to this problem. We suggest that auditors can play a role in aligning the conflicting interests. However,...

We produce new evidence on whether management which is keen to make foreign acquisitions can benefit from consultation with information-intensive institutional investors who have expertise in the target foreign markets. This research suggests that, in such instances, management should recognise...

When thinly traded growth stocks (TTGS) listed on a secondary exchange experience difficulty in gaining investors' attention, one possible solution is to increase the intensity of disclosure. However, if the stock is traded on a quote-driven system, market makers can collude to maintain wide...

We study the no-arbitrage theory of voluntary disclosure (Dye, J Account Res 23:123–145, <CitationRef CitationID="CR6">1985</CitationRef>, and Ostaszewski and Gietzmann, Rev Quant Financ Account 31: 1–27, <CitationRef CitationID="CR17">2008</CitationRef>), generalized to the setting of <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$n$$</EquationSource> </InlineEquation> firms, simultaneously and voluntarily, releasing at the interim-report date...</equationsource></inlineequation></citationref></citationref>

Shin (J Account Res 44(2):351–379, <CitationRef CitationID="CR42">2006</CitationRef>) has argued that in order to understand the equilibrium patterns of corporate disclosure, it is necessary for researchers to work within an asset pricing framework in which corporate disclosures are endogenously determined. Echoing this sentiment,...</citationref>

This paper tests how informed investors with local expertise can affect cross-border deal success using a comprehensive dataset of corporate acquirers’ share registers. We posit that deals in which long-term investors have a high level of expertise in the target firm's region are more likely...

Earlier research on non-US companies has documented that listing an American Depositary Receipt results in an increase in US institutional investor holdings. It is suggested that this result arises because US cross listing, with the related US GAAP financial reporting reconciliation...

We develop a model of managerial planning and control in an environment subject to noisy observation. Our paper differs from other models with noisy observation by focusing on the allocation of a scarce corporate resource. We show that linear performance appraisal is optimal in the noisy...

Following Arthur Andersen's conviction for obstructing justice, auditors faced a one-time significant change in their regulatory environment because it was clear that (i) major audit partnerships could be closed and (ii) post Sarbanes-Oxley Act (SOX), regulators would take a far more attentive...