In the UK, SSAP 13 requires that firms immediately expense most of their R&D expenditures. The reported earnings of high-R&D expenditure firms are therefore likely to convey less value-relevant information to investors than those of less research-intensive firms. Using a sample of firms from the...

We investigate the relation between perceived competition and voluntary disclosure in the absence of capital market incentives by examining private UK companies, which have the option to withhold sales and costs of sales information from their publicly-filed accounts. We survey managers about...

Purpose – The purpose of this editorial is to discuss the problems inherent in examining the effectiveness of corporate governance without explicit consideration of the environment faced by firms. It advocates a contingency approach to the research area, illustrating its ideas by reference to...