Corporate governance in relationship to value relevance and accounting conservatism: SBF 120 firms
Keywords:
value relevance; accounting conservatism, board of directors, ownership structure, financial market.
Abstract
This study examines the relationship between disclosure quality as measured by value relevance and accounting conservatism and the corporate governance mechanisms such as the characteristics of the financial market, board of directors and ownership structure of French companies listed on the SBF 120. The result shows that the companies can have a high value relevance of accounting information or practice the accounting conservatism when they are featuring by the existence of a high number of financial analysts who follow the company, listed on a US stock exchange or have a dispersed structure capital. The findings show also that the significant institutional shareholders, foreign ownership, board with small size, separation of functions as well as the creation of a supervisory board, as well as high performance and a low level of leverage contribute to improving the quality of accounting value.
References
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Agyei-Mensah, B. K., Agyemang, O. S., & Ansong, A. (2020). Audit Committee Effectiveness, Audit Quality, and Internal Control Information Disclosures: An Empirical Study. In Corporate Governance Models and Applications in Developing Economies (pp. 1-22). IGI Global.
Ahmed, A. S., Chen, L. H., Duellman, S., & Sun, Y. (2020). Target's Accounting Conservatism and the Gains from Acquisition. Available at SSRN 3544295.
Albitar, K., Hussainey, K., Kolade, N., & Gerged, A. M. (2020). ESG disclosure and firm performance before and after IR. International Journal of Accounting & Information Management.
Almujamed, H. I., & Alfraih, M. M. (2020). Corporate governance and value relevance of accounting information. International Journal of Ethics and Systems.
Al-Shaer, H., & Harakeh, M. (2020). Gender differences in executive compensation on British corporate boards: The role of conditional conservatism. The International Journal of Accounting, 55(01), 2050002..
Amel-Zadeh, A., Faasse, J., Li, K., & Meeks, G. (2020). Stewardship and Value Relevance in Accounting for the Depletion of Purchased Goodwill. Revised version forthcoming in Accounting for M&A: Uses and Abuses of Accounting in Monitoring and Promoting Merger, Routledge Studies in Accounting, Routledge.
Araújo, D. J. C., Andrade, J. P. D., & Girão, L. F. D. A. P. (2020). Different disclosure activities and sophisticated investors. Revista Contabilidade & Finanças, 31(82), 129-144.
Arayssi, M., Jizi, M., & Tabaja, H. H. (2020). The impact of board composition on the level of ESG disclosures in GCC countries. Sustainability Accounting, Management and Policy Journal.
Areneke, G., & Kimani, D. (2019). Value relevance of multinational directorship and cross-listing on MNEs national governance disclosure practices in Sub-Saharan Africa: Evidence from Nigeria. Journal of World Business, 54(4), 285-306.
Azar, N., Zakaria, Z., & Sulaiman, N. A. (2019). The Quality of Accounting Information: Relevance or Value-Relevance?. Asian Journal of Accounting Perspectives, 12(1), 1-21.
Basu, S., 1997. The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics 24, 3–37.
Budiharta, P., & Kacaribu, H. E. P. B. (2020). The Influence of Board of Directors, Managerial Ownership, and Audit Committee on Carbon Emission Disclosure: A Study of Non-Financial Companies Listed on BEI. Review of Integrative Business and Economics Research, 9, 75-87.
Burke, Q. L., Warfield, T. D., & Wieland, M. M. (2020). Value Relevance of Disaggregated Information: An Examination of the Rate and Volume Analysis of Bank Net Interest Income. Accounting Horizons, 34(1), 19-43.
Cheng, H., Huang, D., & Luo, Y. (2020). Corporate disclosure quality and institutional investors' holdings during market downturns∗. Journal of Corporate Finance, 60, 101523.
Choi, J. S., & Nam, J. A. (2020). Does managerial discretion affect the value relevance of goodwill impairment information under IFRS? Korean evidence. Asia-Pacific Journal of Accounting & Economics, 27(1), 1-23.
Christensen, H. B., Liu, L. Y., & Maffett, M. (2019). Proactive financial reporting enforcement and shareholder wealth. Journal of Accounting and Economics, 101267.
Cormier, D., Dufour, D., Luu, P., Teller, P., & Teller, R. (2019). The relevance of XBRL voluntary disclosure for stock market valuation: The role of corporate governance. Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l'Administration, 36(1), 113-127.
Crawford, S., Huang, Y., Li, N., & Yang, Z. (2020). Customer concentration and public disclosure: Evidence from management earnings and sales forecasts. Contemporary Accounting Research, 37(1), 131-159
Dai, L., & Ngo, P. (2020). Political uncertainty and accounting conservatism. European Accounting Review, 1-32.
de Silva Lokuwaduge, C. S., & de Silva, K. (2020). Emerging Corporate Disclosure of Environmental Social and Governance (ESG) Risks: An Australian Study. Australasian Accounting, Business and Finance Journal, 14(2), 35-50.
Dennis, S. A., Griffin, J. B., & Zehms, K. M. (2019). The value relevance of managers' and auditors' disclosures about material measurement uncertainty. The Accounting Review, 94(4), 215-243.
Do, T. P. T., & Zhang, H. (2020). Peer effects among financial analysts. Contemporary Accounting Research, 37(1), 358-391.
Driskill, M., Kirk, M. P., & Tucker, J. W. (2020). Concurrent Earnings Announcements and Analysts' Information Production. The Accounting Review, 95(1), 165-189.
Druz, M., Petzev, I., Wagner, A. F., & Zeckhauser, R. J. (2020). When managers change their tone, analysts and investors change their tune. Financial Analysts Journal, 76(2), 47-69.
Elberry, N., & Hussainey, K. (2020). Does corporate investment efficiency affect corporate disclosure practices?. Journal of Applied Accounting Research.
Elliott, W. B., Grant, S. M., Hobson, J. L., & Asay, S. (2020). Trader participation in disclosure: Implications of interactions with management. Contemporary Accounting Research, 37(1), 68-100.
Elmagrhi, M. H., Ntim, C. G., Wang, Y., Abdou, H. A., & Zalata, A. M. (2020). Corporate governance disclosure index–executive pay nexus: The moderating effect of governance mechanisms. European Management Review, 17(1), 121-152.
Elshandidy, T., Shrives, P. J., Bamber, M., & Abraham, S. (2018). Risk reporting: A review of the literature and implications for future research. Journal of Accounting Literature, 40, 54-82.
Enache, L., & García‐Meca, E. (2019). Board composition and accounting conservatism: the role of business experts, support specialist and community influentials. Australian Accounting Review, 29(1), 252-265.
Fiandrino, S., Rizzato, F., Busso, D., & Devalle, A. (2019). The effect of ownership concentration on non-financial information mandatory disclosure. Evidence from Italy..
Firmansyah, A., & Yusuf, Y. (2020). The Value Relevance of Corporate Disclosures: Social Responsibility, Intellectual Capital, Corporate Governance. Assets: Jurnal Akuntansi dan Pendidikan, 9(1), 61-71.
Florackis, C., Kanas, A., Kostakis, A., & Sainani, S. (2020). Idiosyncratic risk, risk-taking incentives and the relation between managerial ownership and firm value. European Journal of Operational Research, 283(2), 748-766.
Flores, E., Fasan, M., Mendes‐da‐Silva, W., & Sampaio, J. O. (2019). Integrated reporting and capital markets in an international setting: The role of financial analysts. Business Strategy and the Environment, 28(7), 1465-1480.
Fortin, S., Hammami, A., & Magnan, M. (2019). Re‐exploring Fair Value Accounting and Value Relevance: An Examination of Underlying Securities. Abacus.
Francis, B., Hasan, I., Siraj, I., & Wu, Q. (2020). Managerial Ability and Value Relevance of Earnings. China Accounting and Finance Review, Forthcoming.
Frenkel, S., Guttman, I., & Kremer, I. (2020). The effect of exogenous information on voluntary disclosure and market quality. Journal of Financial Economics.
Gantyowati, E., & Fitria, A. N. (2020). Influence Of Ownership Structure And Board Activity To Voluntary Disclosure For Manufacturing Companies In Indonesian Stock Exchange. In Conference In Business, Accounting, And Management (CBAM) (Vol. 1, No. 1, pp. 231-244).
Gavana, G., Gottardo, P., & Moisello, A. M. (2020). Did the switch to IFRS 11 for joint ventures affect the value relevance of corporate consolidated financial statements? Evidence from France and Italy. Journal of International Accounting, Auditing and Taxation, 100300.
Ghadhab, I. (2019). Does cross-listing in the US mitigate stock crash risk? International evidence. International Review of Financial Analysis, 63, 186-197.
Glaeser, S., Michels, J., & Verrecchia, R. E. (2020). Discretionary disclosure and manager horizon: Evidence from patenting. Review of Accounting Studies, 1-39.
Gleason, C., Ling, Z., & Zhao, R. (2020). Selective disclosure and the role of Form 8‐K in the post‐Reg FD era. Journal of Business Finance & Accounting, 47(3-4), 365-396.
Goergen, M., Limbach, P., & Scholz-Daneshgari, M. (2019). Firms’ Rationales for CEO Duality: Evidence from a Mandatory Disclosure Regulation. European Corporate Governance Institute (ECGI)-Finance Working Paper, (598).
Harakeh, M., Matar, G., & Sayour, N. (2020). Information asymmetry and dividend policy of Sarbanes-Oxley Act. Journal of Economic Studies.
Hassan, O. A., & Marston, C. (2019). Disclosure Measurement in the Empirical Accounting Literature-A Review Article. International Journal of Accounting.
Healy, P. M., & Serafeim, G. (2020). Voluntary, Self-Regulatory, and Mandatory Disclosure of Oil and Gas Company Payments to Foreign Governments. Accounting Horizons, 34(1), 111-129.
Hegde, S., Seth, R., & Vishwanatha, S. R. (2020). Ownership concentration and stock returns: Evidence from family firms in India. Pacific-Basin Finance Journal, 101330.
Huang, T., Wu, F., Yu, J., & Zhang, B. (2020). Investor protection and the value impact of stock liquidity. Journal of International Business Studies, 51(1), 72-94.
Kamarudin, K. A., Ariff, A. M., & Jaafar, A. (2020). Investor protection, cross-listing and accounting quality. Journal of Contemporary Accounting & Economics, 16(1), 100179.
Karajeh, A. I. S. (2019). Voluntary disclosure and earnings quality: evidence from ownership concentration environment. Management Research Review.
Kim, B. H. (2020). Debt covenant slack and ex-post conditional accounting conservatism. Accounting and Business Research, 50(2), 111-134.
Li, W., Ng, J., Tsang, A., & Urcan, O. (2019). Country-level institutions and management earnings forecasts. Journal of International Business Studies, 50(1), 48-82.
Li, Z., Wong, T. J., & Yu, G. (2020). Information dissemination through embedded financial analysts: Evidence from China. The Accounting Review, 95(2), 257-281.
Liao, L., Yao, D. T., Kang, H., & Morris, R. D. (2020). The impact of legal efficacy on value relevance of the three-level fair value measurement hierarchy. Pacific-Basin Finance Journal, 59, 101259.
C., Hsu, S., Chou, P. L., Chao, Y. Y., & Li, C. W. (2020). The Effects of Directors’ and Officers’ Liability Insurance on Key Auditing Matters. Emerging Markets Finance and Trade, 1-26.
Liu, L. X., & Li, J. (2020). Corporate governance and listing location of Chinese firms: the bonding theory revisited. Journal of the Asia Pacific Economy, 25(1), 40-61.
Lobo, G. J., Robin, A., & Wu, K. (2020). Share repurchases and accounting conservatism. Review of Quantitative Finance and Accounting, 54(2), 699-733.,
Michelon, G., Rodrigue, M., & Trevisan, E. (2020). The marketization of a social movement: Activists, shareholders and CSR disclosure. Accounting, Organizations and Society, 80, 101074.
Nasr, M. A., & Ntim, C. G. (2018). Corporate governance mechanisms and accounting conservatism: evidence from Egypt. Corporate Governance: The International Journal of Business in Society.
Nguyen, T. T., Duong, C. M., Nguyen, N. T. M., & Bui, H. Q. (2019). Accounting conservatism and banking expertise on board of directors. Review of Quantitative Finance and Accounting, 1-39.
Ohlson J. A (1995) Earnings, Book Values, and Dividends in Security Valuation Contemporary Accounting Research 11 661–687
Potepa, J. (2020). The treatment of special items in determining CEO cash compensation. Review of Accounting Studies, 1-39.
Rahmat, M. M., Ahmed, K., & Lobo, G. J. (2020). Related Party Transactions, Value Relevance and Informativeness of Earnings: Evidence from Four Economies in East Asia. Review of Pacific Basin Financial Markets and Policies, 2050005..
Solichah, N., & Fachrurrozie, F. (2019). Effect of Managerial Ownership, Leverage, Firm Size and Profitability on Accounting Conservatism. Accounting Analysis Journal, 8(3), 151-157.
Tran, M., & Beddewela, E. (2020). Does context matter for sustainability disclosure? Institutional factors in Southeast Asia. Business Ethics: A European Review, 29(2), 282-302.
Tsang, A., Xie, F., & Xin, X. (2019). Foreign institutional investors and corporate voluntary disclosure around the world. The Accounting Review, 94(5), 319-348.
Veltri, S., De Luca, F., & Phan, H. T. P. (2020). Do investors value companies' mandatory nonfinancial risk disclosure? An empirical analysis of the Italian context after the EU Directive. Business Strategy and the Environment.
Wang, Z., Zhang, Z., & Zhang, H. (2019). Can Institutional Investors Improve Voluntary Management Earnings Forecasts?. Emerging Markets Finance and Trade, 1-23.
Yin, M., Zhang, J., & Han, J. (2020). Impact of CEO-board social ties on accounting conservatism: Internal control quality as a mediator. The North American Journal of Economics and Finance, 52, 101172.
Zulfikara, R., Atutib, K. D., & Ismailc, T. (2020). The Mediating Role of Accounting Conservatism on the Influence of Independent Commissioners and Managerial Ownership of Financial Performance. governance, 12(8).
Agyei-Mensah, B. K., Agyemang, O. S., & Ansong, A. (2020). Audit Committee Effectiveness, Audit Quality, and Internal Control Information Disclosures: An Empirical Study. In Corporate Governance Models and Applications in Developing Economies (pp. 1-22). IGI Global.
Ahmed, A. S., Chen, L. H., Duellman, S., & Sun, Y. (2020). Target's Accounting Conservatism and the Gains from Acquisition. Available at SSRN 3544295.
Albitar, K., Hussainey, K., Kolade, N., & Gerged, A. M. (2020). ESG disclosure and firm performance before and after IR. International Journal of Accounting & Information Management.
Almujamed, H. I., & Alfraih, M. M. (2020). Corporate governance and value relevance of accounting information. International Journal of Ethics and Systems.
Al-Shaer, H., & Harakeh, M. (2020). Gender differences in executive compensation on British corporate boards: The role of conditional conservatism. The International Journal of Accounting, 55(01), 2050002..
Amel-Zadeh, A., Faasse, J., Li, K., & Meeks, G. (2020). Stewardship and Value Relevance in Accounting for the Depletion of Purchased Goodwill. Revised version forthcoming in Accounting for M&A: Uses and Abuses of Accounting in Monitoring and Promoting Merger, Routledge Studies in Accounting, Routledge.
Araújo, D. J. C., Andrade, J. P. D., & Girão, L. F. D. A. P. (2020). Different disclosure activities and sophisticated investors. Revista Contabilidade & Finanças, 31(82), 129-144.
Arayssi, M., Jizi, M., & Tabaja, H. H. (2020). The impact of board composition on the level of ESG disclosures in GCC countries. Sustainability Accounting, Management and Policy Journal.
Areneke, G., & Kimani, D. (2019). Value relevance of multinational directorship and cross-listing on MNEs national governance disclosure practices in Sub-Saharan Africa: Evidence from Nigeria. Journal of World Business, 54(4), 285-306.
Azar, N., Zakaria, Z., & Sulaiman, N. A. (2019). The Quality of Accounting Information: Relevance or Value-Relevance?. Asian Journal of Accounting Perspectives, 12(1), 1-21.
Basu, S., 1997. The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics 24, 3–37.
Budiharta, P., & Kacaribu, H. E. P. B. (2020). The Influence of Board of Directors, Managerial Ownership, and Audit Committee on Carbon Emission Disclosure: A Study of Non-Financial Companies Listed on BEI. Review of Integrative Business and Economics Research, 9, 75-87.
Burke, Q. L., Warfield, T. D., & Wieland, M. M. (2020). Value Relevance of Disaggregated Information: An Examination of the Rate and Volume Analysis of Bank Net Interest Income. Accounting Horizons, 34(1), 19-43.
Cheng, H., Huang, D., & Luo, Y. (2020). Corporate disclosure quality and institutional investors' holdings during market downturns∗. Journal of Corporate Finance, 60, 101523.
Choi, J. S., & Nam, J. A. (2020). Does managerial discretion affect the value relevance of goodwill impairment information under IFRS? Korean evidence. Asia-Pacific Journal of Accounting & Economics, 27(1), 1-23.
Christensen, H. B., Liu, L. Y., & Maffett, M. (2019). Proactive financial reporting enforcement and shareholder wealth. Journal of Accounting and Economics, 101267.
Cormier, D., Dufour, D., Luu, P., Teller, P., & Teller, R. (2019). The relevance of XBRL voluntary disclosure for stock market valuation: The role of corporate governance. Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l'Administration, 36(1), 113-127.
Crawford, S., Huang, Y., Li, N., & Yang, Z. (2020). Customer concentration and public disclosure: Evidence from management earnings and sales forecasts. Contemporary Accounting Research, 37(1), 131-159
Dai, L., & Ngo, P. (2020). Political uncertainty and accounting conservatism. European Accounting Review, 1-32.
de Silva Lokuwaduge, C. S., & de Silva, K. (2020). Emerging Corporate Disclosure of Environmental Social and Governance (ESG) Risks: An Australian Study. Australasian Accounting, Business and Finance Journal, 14(2), 35-50.
Dennis, S. A., Griffin, J. B., & Zehms, K. M. (2019). The value relevance of managers' and auditors' disclosures about material measurement uncertainty. The Accounting Review, 94(4), 215-243.
Do, T. P. T., & Zhang, H. (2020). Peer effects among financial analysts. Contemporary Accounting Research, 37(1), 358-391.
Driskill, M., Kirk, M. P., & Tucker, J. W. (2020). Concurrent Earnings Announcements and Analysts' Information Production. The Accounting Review, 95(1), 165-189.
Druz, M., Petzev, I., Wagner, A. F., & Zeckhauser, R. J. (2020). When managers change their tone, analysts and investors change their tune. Financial Analysts Journal, 76(2), 47-69.
Elberry, N., & Hussainey, K. (2020). Does corporate investment efficiency affect corporate disclosure practices?. Journal of Applied Accounting Research.
Elliott, W. B., Grant, S. M., Hobson, J. L., & Asay, S. (2020). Trader participation in disclosure: Implications of interactions with management. Contemporary Accounting Research, 37(1), 68-100.
Elmagrhi, M. H., Ntim, C. G., Wang, Y., Abdou, H. A., & Zalata, A. M. (2020). Corporate governance disclosure index–executive pay nexus: The moderating effect of governance mechanisms. European Management Review, 17(1), 121-152.
Elshandidy, T., Shrives, P. J., Bamber, M., & Abraham, S. (2018). Risk reporting: A review of the literature and implications for future research. Journal of Accounting Literature, 40, 54-82.
Enache, L., & García‐Meca, E. (2019). Board composition and accounting conservatism: the role of business experts, support specialist and community influentials. Australian Accounting Review, 29(1), 252-265.
Fiandrino, S., Rizzato, F., Busso, D., & Devalle, A. (2019). The effect of ownership concentration on non-financial information mandatory disclosure. Evidence from Italy..
Firmansyah, A., & Yusuf, Y. (2020). The Value Relevance of Corporate Disclosures: Social Responsibility, Intellectual Capital, Corporate Governance. Assets: Jurnal Akuntansi dan Pendidikan, 9(1), 61-71.
Florackis, C., Kanas, A., Kostakis, A., & Sainani, S. (2020). Idiosyncratic risk, risk-taking incentives and the relation between managerial ownership and firm value. European Journal of Operational Research, 283(2), 748-766.
Flores, E., Fasan, M., Mendes‐da‐Silva, W., & Sampaio, J. O. (2019). Integrated reporting and capital markets in an international setting: The role of financial analysts. Business Strategy and the Environment, 28(7), 1465-1480.
Fortin, S., Hammami, A., & Magnan, M. (2019). Re‐exploring Fair Value Accounting and Value Relevance: An Examination of Underlying Securities. Abacus.
Francis, B., Hasan, I., Siraj, I., & Wu, Q. (2020). Managerial Ability and Value Relevance of Earnings. China Accounting and Finance Review, Forthcoming.
Frenkel, S., Guttman, I., & Kremer, I. (2020). The effect of exogenous information on voluntary disclosure and market quality. Journal of Financial Economics.
Gantyowati, E., & Fitria, A. N. (2020). Influence Of Ownership Structure And Board Activity To Voluntary Disclosure For Manufacturing Companies In Indonesian Stock Exchange. In Conference In Business, Accounting, And Management (CBAM) (Vol. 1, No. 1, pp. 231-244).
Gavana, G., Gottardo, P., & Moisello, A. M. (2020). Did the switch to IFRS 11 for joint ventures affect the value relevance of corporate consolidated financial statements? Evidence from France and Italy. Journal of International Accounting, Auditing and Taxation, 100300.
Ghadhab, I. (2019). Does cross-listing in the US mitigate stock crash risk? International evidence. International Review of Financial Analysis, 63, 186-197.
Glaeser, S., Michels, J., & Verrecchia, R. E. (2020). Discretionary disclosure and manager horizon: Evidence from patenting. Review of Accounting Studies, 1-39.
Gleason, C., Ling, Z., & Zhao, R. (2020). Selective disclosure and the role of Form 8‐K in the post‐Reg FD era. Journal of Business Finance & Accounting, 47(3-4), 365-396.
Goergen, M., Limbach, P., & Scholz-Daneshgari, M. (2019). Firms’ Rationales for CEO Duality: Evidence from a Mandatory Disclosure Regulation. European Corporate Governance Institute (ECGI)-Finance Working Paper, (598).
Harakeh, M., Matar, G., & Sayour, N. (2020). Information asymmetry and dividend policy of Sarbanes-Oxley Act. Journal of Economic Studies.
Hassan, O. A., & Marston, C. (2019). Disclosure Measurement in the Empirical Accounting Literature-A Review Article. International Journal of Accounting.
Healy, P. M., & Serafeim, G. (2020). Voluntary, Self-Regulatory, and Mandatory Disclosure of Oil and Gas Company Payments to Foreign Governments. Accounting Horizons, 34(1), 111-129.
Hegde, S., Seth, R., & Vishwanatha, S. R. (2020). Ownership concentration and stock returns: Evidence from family firms in India. Pacific-Basin Finance Journal, 101330.
Huang, T., Wu, F., Yu, J., & Zhang, B. (2020). Investor protection and the value impact of stock liquidity. Journal of International Business Studies, 51(1), 72-94.
Kamarudin, K. A., Ariff, A. M., & Jaafar, A. (2020). Investor protection, cross-listing and accounting quality. Journal of Contemporary Accounting & Economics, 16(1), 100179.
Karajeh, A. I. S. (2019). Voluntary disclosure and earnings quality: evidence from ownership concentration environment. Management Research Review.
Kim, B. H. (2020). Debt covenant slack and ex-post conditional accounting conservatism. Accounting and Business Research, 50(2), 111-134.
Li, W., Ng, J., Tsang, A., & Urcan, O. (2019). Country-level institutions and management earnings forecasts. Journal of International Business Studies, 50(1), 48-82.
Li, Z., Wong, T. J., & Yu, G. (2020). Information dissemination through embedded financial analysts: Evidence from China. The Accounting Review, 95(2), 257-281.
Liao, L., Yao, D. T., Kang, H., & Morris, R. D. (2020). The impact of legal efficacy on value relevance of the three-level fair value measurement hierarchy. Pacific-Basin Finance Journal, 59, 101259.
C., Hsu, S., Chou, P. L., Chao, Y. Y., & Li, C. W. (2020). The Effects of Directors’ and Officers’ Liability Insurance on Key Auditing Matters. Emerging Markets Finance and Trade, 1-26.
Liu, L. X., & Li, J. (2020). Corporate governance and listing location of Chinese firms: the bonding theory revisited. Journal of the Asia Pacific Economy, 25(1), 40-61.
Lobo, G. J., Robin, A., & Wu, K. (2020). Share repurchases and accounting conservatism. Review of Quantitative Finance and Accounting, 54(2), 699-733.,
Michelon, G., Rodrigue, M., & Trevisan, E. (2020). The marketization of a social movement: Activists, shareholders and CSR disclosure. Accounting, Organizations and Society, 80, 101074.
Nasr, M. A., & Ntim, C. G. (2018). Corporate governance mechanisms and accounting conservatism: evidence from Egypt. Corporate Governance: The International Journal of Business in Society.
Nguyen, T. T., Duong, C. M., Nguyen, N. T. M., & Bui, H. Q. (2019). Accounting conservatism and banking expertise on board of directors. Review of Quantitative Finance and Accounting, 1-39.
Ohlson J. A (1995) Earnings, Book Values, and Dividends in Security Valuation Contemporary Accounting Research 11 661–687
Potepa, J. (2020). The treatment of special items in determining CEO cash compensation. Review of Accounting Studies, 1-39.
Rahmat, M. M., Ahmed, K., & Lobo, G. J. (2020). Related Party Transactions, Value Relevance and Informativeness of Earnings: Evidence from Four Economies in East Asia. Review of Pacific Basin Financial Markets and Policies, 2050005..
Solichah, N., & Fachrurrozie, F. (2019). Effect of Managerial Ownership, Leverage, Firm Size and Profitability on Accounting Conservatism. Accounting Analysis Journal, 8(3), 151-157.
Tran, M., & Beddewela, E. (2020). Does context matter for sustainability disclosure? Institutional factors in Southeast Asia. Business Ethics: A European Review, 29(2), 282-302.
Tsang, A., Xie, F., & Xin, X. (2019). Foreign institutional investors and corporate voluntary disclosure around the world. The Accounting Review, 94(5), 319-348.
Veltri, S., De Luca, F., & Phan, H. T. P. (2020). Do investors value companies' mandatory nonfinancial risk disclosure? An empirical analysis of the Italian context after the EU Directive. Business Strategy and the Environment.
Wang, Z., Zhang, Z., & Zhang, H. (2019). Can Institutional Investors Improve Voluntary Management Earnings Forecasts?. Emerging Markets Finance and Trade, 1-23.
Yin, M., Zhang, J., & Han, J. (2020). Impact of CEO-board social ties on accounting conservatism: Internal control quality as a mediator. The North American Journal of Economics and Finance, 52, 101172.
Zulfikara, R., Atutib, K. D., & Ismailc, T. (2020). The Mediating Role of Accounting Conservatism on the Influence of Independent Commissioners and Managerial Ownership of Financial Performance. governance, 12(8).
Published
2024-06-26
How to Cite
Ahmadi, A., & Bouri, A. (2024). Corporate governance in relationship to value relevance and accounting conservatism: SBF 120 firms. Review of Applied Socio-Economic Research, 27(1), 61-78. https://doi.org/10.54609/reaser.v27i1.269
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Articles
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