Why "Democracy" and "Drifter" Firms can have Abnormal Returns: The Joint Importance of Corporate Governance and Abnormal Accruals in Separating Winners from Losers

• 主要作者: KEE, Koon Boon
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2010
• 主題: corporate governance; abnormal accruals; earnings quality; accruals anomaly; returns predictability; special items; Accounting; Business Law, Public Responsibility, and Ethics; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/etd_coll/54; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1053&context=etd_coll
• 機構: Singapore Management University

Do managers exercise accounting discretion in an opportunistic or efficient manner? Good governance structures, which mitigate agency costs, are necessary to ensure that the accounting information supplied by management is not opportunistically manipulated. The output of quality accounting informati...