We study changes in financial policies following a regulatory shock to the accounting transparency of defined benefit pension plans. We estimate the hidden pension deficits of French companies subject to mandatory IAS 19 adoption in 2005 using disclosures of early adopters of IAS 19. We find...

Purpose – The purpose of this paper is to investigate how the turnover‐performance relation depends on the proportion of outside directors and institutional ownership concentration and to explore the relative roles of accounting‐ and stock‐based performance measures in the process of CEO...

Purpose – The purpose of this paper is to investigate how the turnover-performance relation depends on the proportion of outside directors and institutional ownership concentration and to explore the relative roles of accounting- and stock-based performance measures in the process of CEO...

The rationale for conservatively expensing R&D investments under U.S. GAAP largely relies on the uncertainty of the R&D-related future benefits. We examine the temporal dimension of uncertainty reflecting the time distance between R&D expenditures and the realization of future benefits. We...

We examine the costs and benefits of proactive financial reporting enforcement by the UK Financial Reporting Review Panel. Enforcement scrutiny is selective and varies by sector and over time, yet can be anticipated by auditors and companies. We find evidence that increased enforcement intensity...