In this study, we document that independent corporate boards of Hong Kong firms provide effective monitoring of earnings management, which suggests that despite differences in institutional environments, corporate board independence is important to ensure high quality financial reporting. The...

This study examines whether the informativeness of earnings and the pricing of discretionary accruals by the market are associated with investment opportunity set (IOS) and debt levels. We show that the earnings-returns relationship is impacted positively by IOS but negatively by debt after...

Using a sample of US firms from 1988 to 2000, we find a strong positive (weak or no) association between auditor tenure and earnings quality in client firms whose demand for unique client-specific knowledge is higher (lower). These results are consistent with the idea that learning the unique...