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Disclosure Practices of Foreign Companies Interacting with U.S. Markets
(2004)
We analyze the disclosure practices of companies as a function of their interaction with the U.S. markets for a group of 794 firms from 24 countries in Asia-Pacific and Europe. Our analysis uses the Transparency and ...
Do Analysts Follow Managers Who Switch Companies? An Analysis of Relationships in the Capital Markets
(2014)
We examine the importance of professional relationships developed between analysts and managers by investigating analyst coverage decisions in the context of CEO and CFO moves between publicly listed firms. We find that ...
Regulation and Bonding: The Sarbanes-Oxley Act and the Flow of International Listings
(2008)
In this paper, we examine the economic impact of the Sarbanes-Oxley Act (SOX) by analyzing foreign listing behavior onto U.S. and U.K. stock exchanges before and after the enactment of the Act in 2002. Using a sample of ...
Consequences of Financial Reporting Failure for Outside Directors: Evidence from Accounting Restatements and Audit Committee Members
(2005)
I use a sample of 409 companies that restated their earnings from 1997 to 2001 to examine penalties for outside directors, particularly audit committee members, when their companies experience accounting restatements. ...
Accountability of independent directors: Evidence from firms subject to securities litigation
(Elsevier, 2014)
We examine which independent directors are held accountable when investors sue firms for financial- and disclosure-related fraud. Investors can name independent directors as defendants in lawsuits, and they can vote against ...
Which U.S. Market Interactions Affect CEO Pay? Evidence from UK Companies
(INFORMS, 2013)
This paper examines how different types of interactions with U.S. markets by non-U.S. firms are associated with higher level of CEO pay, greater emphasis on incentive-based compensation, and smaller pay gap with U.S. firms. ...
Non-audit services and financial reporting quality: evidence from 1978 to 1980
(2013)
We provide evidence for the long-standing concern on auditor conflicts of interest from providing non-audit services (NAS) to audit clients by using rarely explored NAS fee data from 1978 to 1980. Using this earlier setting, ...
Audit Quality and Auditor Reputation: Evidence from Japan
(2012)
We study events surrounding ChuoAoyama's failed audit of Kanebo, a large Japanese cosmetics company whose management engaged in a massive accounting fraud. ChuoAoyama was PwC's Japanese affiliate and one of Japan's largest ...
Corporate Governance When Founders Are Directors
(Elsevier, 2011)
We examine CEO compensation, CEO retention policies, and M&A decisions in firms where founders serve as a director with a non-founder CEO (founder-director firms). We find that founder-director firms offer a different mix ...
Signaling Firm Performance Through Financial Statement Presentation: An Analysis Using Special Items
(Canadian Academic Accounting Association, 2010)
This paper investigates whether managers' presentation of special items within the financial statements reflects economic performance or opportunism. Specifically, we assess special items presented as a separate line item ...