We examine how the adoption of International Accounting Standard No. 27 (hereafter, IAS 27) consolidation rules affects firm level investment efficiency. IAS 27, effective in Taiwan for fiscal years beginning after 2005, defines the “control” criteria for consolidated entities as majority...

We examine whether accounting quality is associated with efficient investments in labor. Consistent with high quality accounting mitigating market frictions that lead to sub-optimal levels of investment, we find evidence that abnormal net hiring (measured as the absolute deviation from net...

We examine how labor-friendly institutional features, i.e., laborism, relate to corporate investment efficiency in labor in a sample that represents 33 countries during 1996 to 2012. We consider various dimensions of laborism such as the presence of left-leaning government, rigidity of employee...