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...

We explore the effect of board independence on CSR investments during a stressful time, i.e. during the Great Recession. Our results show that independent directors exhibit an unfavorable view of CSR investments during the crisis. Stronger board independence leads to a significant reduction in...

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...