We investigate the extent of earnings management during the financial crisis of 2008 (The Great Recession). Based on a large sample of over 14,000 observations across 15 years, our results show that firms managed earnings less aggressively during the crisis. We also show a severe decline in firm...

This study investigates whether corporate diversification in Thailand led to value creation or destruction. The evidence shows that, like studies in developed countries, companies listed on the Stock Exchange of Thailand (SET), on average, experience a value loss of more than 10% through their...