Results 151 to 160 of about 18,621 (269)
Agency Theory of Overvalued Equity as an Explanation for the Accrual Anomaly [PDF]
We show that the agency theory of overvalued equity (see Jensen, 2005) rather than investors' fixation on accruals explains the accrual anomaly, i.e., abnormal returns to an accrual trading strategy (see Sloan, 1996).Under the agency theory of overvalued
Kothari, S.P. +2 more
core +1 more source
Financial Statement Information and Equity Value: The Role of Real Options Characteristics
Financial Management, EarlyView.ABSTRACT This paper examines whether firm‐specific real options characteristics are equity value‐relevant beyond valuation estimates anchored in financial statements. Using extensive historical data for the United Kingdom, we assess and compare the forecast accuracy and explanatory power for stock prices of equity valuation models based on residual ...
Mingyu (Chandler) Chen +2 more
wiley +1 more source
Real earnings management and ESG disclosure in emerging markets: The moderating effect of managerial ownership from a social norm perspective. [PDF]
Heliyon, 2023 Liu T +3 more
europepmc +1 more source
Idiosyncratic Political Risk and Bad News Hoarding
Financial Review, EarlyView.ABSTRACT Managers may respond to greater political risk by suppressing unfavorable news from outsiders to manage investors’ perceptions about firm risk and protect their careers. However, they may also avoid engaging in bad news hoarding activities because exposure to political risk increases firm visibility and attracts greater scrutiny. Using a novel
Gonul Colak +2 more
wiley +1 more source
Voluntary disclosure of pandemic exposure and stock price crash risk. [PDF]
Financ Res Lett, 2022 Jin J, Liu Y, Zhang Z, Zhao R.
europepmc +1 more source
Voluntary Adoption of Internal Audit by NASDAQ Firms and Its Impact on Internal Control Reporting
International Journal of Auditing, EarlyView.ABSTRACT NASDAQ firms are not required to have an internal audit function. We exploit this voluntary setting to provide further insight into internal audit's role as a governance function. We search proxy statements and other sources to identify whether NASDAQ firms have an internal audit function.
Omar Watts, Randal Elder, Michael Hyman
wiley +1 more source
The Real Effects of Investor Sentiment [PDF]
We study how stock market mispricing might influence individual firms' investment decisions. We find a positive relation between investment and a number of proxies for mispricing, controlling for investment opportunities and financial slack, suggesting ...
Christopher Polk, Paola Sapienza
core
Monitoring and Institutional Trust Repair
Journal of Applied Philosophy, EarlyView.ABSTRACT A monitoring‐based strategy for repairing ruptured institutional trust is motivated and defended, bringing together insights about both interpersonal and institutional trust breakdown. The strategy pursued identifies and exploits important differences between interpersonal and institutional trust relations, insofar as monitoring in each case ...
Emma C. Gordon
wiley +1 more source
Are Delayed Earnings Announcements Informative for Peer Firms?
Journal of Business Finance &Accounting, EarlyView.ABSTRACT A large literature in accounting and finance has examined the effect of earnings announcements on a firm's own stock price, the effect of delays in announcements, and the effect of a firm's earnings announcements on peer firms as mutually exclusive events.
Somnath Das +2 more
wiley +1 more source
The Effect of Managers' Mix of Real and Accrual‐Based Earnings Management on Future Performance
Journal of Business Finance &Accounting, EarlyView.ABSTRACT Prior research finds that firms use both accrual‐based earnings management (AEM) and real earnings management (REM) to manage financial reporting outcomes and that each practice influences firm performance. We extend this research by examining how managers’ choices regarding the mix of AEM and REM relate to future performance.
Bowe Hansen, E. Scott Johnson, Lijun Lei
wiley +1 more source