This paper analyzes empirically the relation between financial analysts' recommendation profitability and their forecast accuracy and shows that contrary to intuition the group of most successful recommendations is not associated with the highest accuracy on average. The finding that best...

This study investigates the effects audit partner tenure and firm profitability on the market value of the firm. This study extends Ohlson’s model by examining audit partner tenure, and the interaction between residual earnings per share and audit partner tenure on firm value. This issue is...

We examine the effect of media competition on analyst forecast properties in an international setting using 113,436 firm-year observations from 32 countries spanning 2000 through 2012. We find that firms in countries with stronger media competition enjoy more accurate, less optimistically...

Executive compensation practices suppose to influence the motivational level of the employees and hence affect the organizational performance. The study examines to explore how the executive compensation practices by the Bangladeshi companies affect the corporate performance. The study is...

The authors analyze commercial banks' profitability (return on equity, ROE) at different levels of creditor rights and an aggregate score of information sharing in terms of credit bureaus. After controlling for bank size and some macroeconomic variables, the results indicate that profitability...

When larger market values of equity result in being subject to costly regulation, firms have incentives to shift their sources of financing toward debt and away from equity. We use the Sarbanes-Oxley Act of 2002 (SOX) as a setting to provide evidence of such incentives. Smaller firms were...

When larger market values of equity result in being subject to costly regulation, firms have incentives to shift their sources of financing toward debt and away from equity. We use the Sarbanes-Oxley Act of 2002 (SOX) as a setting to provide evidence of such incentives. Smaller firms were...

In 2006 Germany passed a disclosure enforcement law (EHUG) that strengthened the enforcement of financial statement disclosure in particular for non-listed firms whose compliance before the law was just about 16%. After introducing recurring fines of €2,500 to €25,000 disclosure rates surged...

This paper examines whether firm-level asset investment effects in returns found for U.S. firms occur within the Greek stock market. We find that growth in total assets is strongly negatively related to future stock returns of Greek firms. In fact, the relation remains statistically significant,...

This paper investigates alternative models of learning to explain changes in uncertainty surrounding earnings innovations. As a proxy for investor uncertainty, we use model-free implied volatilities; as a proxy for earnings innovations, representing signals of firm performance likely to drive...