Focusing on an environment where ownership concentration is prevalent and where sustainability disclosure is not a new phenomenon, we show that communication via social responsibility reporting has a positive effect on earnings informativeness. Moreover, this positive effect is greater as the...

The aim of this research is to examine the effect of defensive measures (DMs) on earnings management in an owner dominant environment such as Continental Europe, where control is assumed to be exercised by large shareholders. Thus, compared to the manager dominant context of the US/UK, in the...

En el trabajo analizamos la relación entre el control institucional dominante y la capacidad informativa de los resultados contables en una muestra de empresas no financieras cotizadas españolas en el periodo 1996-2009. Nuestros resultados revelan que a medida que aumenta la propiedad más...

This paper examines the effect of managers' liability exposure on earnings conservatism in the banking industry. Focusing on a wide international sample of commercial banks and using TIER1 as a proxy of bank managers' exposure to litigation, our results show a negative relationship between the...

We examine the effect of shareholder coalitions on the corporate payout policy in Spain, a context characterized by the presence of dominant shareholders. Our results show that shareholder coalitions affect payout policy negatively (both for dividends and shares repurchases). This finding...

We examine the effect of shareholder coalitions on the corporate payout policy in Spain, a context characterized by the presence of dominant shareholders. Our results show that shareholder coalitions affect payout policy negatively (both for dividends and shares repurchases). This finding...

Using the firms' directors who have a background in politics as a measure of political connections, we analyze the relationship between political ties and dividend policy in a sample of listed Spanish firms. We find that political connections are positively related with cash dividends. This...

[ES] El presente trabajo analiza la relación entre el control familiar y la credibilidad de los resultados contables. Utilizando un panel de datos de empresas españolas cotizadas no financieras para el período 1997-2003, los resultados alcanzados muestran que la credibilidad de la...