Earnings Management and Investor Protection: An International Comparison

What makes organizations so similar? We contend that the engine of rationalization and bureaucratization has moved from the competitive marketplace to the state and the professions. Once a set of organizations emerges as a field, a paradox arises: rational actors make their organizations increasingly similar as they try to change them. We describe three isomorphic processes-coercive, mimetic, and normative—leading to this outcome. We then specify hypotheses about the impact of resource centralization and dependency, goal ambiguity and technical uncertainty, and professionalization and structuration on isomorphic change. Finally, we suggest implications for theories of organizations and social change.

The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields (Chinese Translation)

Toward a sustainable environment: Nexus between CO2 emissions, resource rent, renewable and nonrenewable energy in 16-EU countries

Can It Happen Again

The maturity structure of corporate debt

This paper aims to investigate the joint effect of board independence and gender diversity on the effectiveness of boards in monitoring CEO compensation in a continental European context, i.e. France.,Fixed-effect regressions are used to study the impact of board independence, gender diversity and their interaction, i.e. the proportion of female independent directors on the different components of CEO compensation (total, fixed and variable).,The authors observe that both the proportions of independent directors and women sitting on the boards positively influence the various components of CEO compensation. However, the interaction of these factors, i.e. the proportion of female independent directors, is negatively associated with CEO compensation. These results suggest that independent women directors improve board effectiveness in monitoring CEO compensation, especially its fixed component.,The results of this research help to elucidate the importance of women being appointed to boards as independent directors to properly monitor managerial pay. These results provide support to the approach of the French Cope-Zimmerman law of January 2011, which promotes female representation on boards as independent directors to enhance board decision-making. Thus, evidence presented and discussed in this paper should provide useful insights for academics, corporate managers and regulators.

Board independence, gender diversity and CEO compensation

Recent debates on institutional investors and their impact on corporate managers' accounting decisions have especially centred on the effectiveness of their monitoring role. Previous studies have reported mixed results on this question. This paper empirically examines the influence of institutional investors on earnings management in France. The results show that these investors can move corporate managers away from using discretionary accruals to adjust reported earnings. However, this influence is not systematic. It appears to be released only when managers are noticeably motivated to increase or reduce reported earnings. Otherwise, no statistically significant effect is observed.

The influence of institutional investors on opportunistic earnings management

/pdf/new-insights-into-the-us-stock-market-reactions-to-energy-417dlhw8em.pdf

New insights into the US stock market reactions to energy price shocks

Purpose – This paper aims to study the stock market reaction to sporting results of European listed football clubs. Specifically, it tries to examine the impact of the sporting results on the stock market valuation in terms of abnormal returns and trading volume around the dates of matches.Design/methodology/approach – This paper undertakes an event study around the dates of 745 matches played by European listed football clubs.Findings – The empirical analysis shows that the sporting results of listed football clubs affect both the abnormal returns and the trading volume around the dates of matches. The movement (positive or negative) and the time when the impact occurs (before or after the match) differ according to the nature of the result (defeat, draw or win) and the match venue (home or away). Findings in this study imply that the success of investments in listed football clubs requires a regular follow‐up of their sporting performances.Originality/value – This paper is one of the first to take into ...

Ramzi Benkraiem

Papers

Board independence, gender diversity and CEO compensation

The influence of institutional investors on opportunistic earnings management

New insights into the US stock market reactions to energy price shocks

Market reaction to sporting results: The case of European listed football clubs

The asymmetric role of shadow economy in the energy-growth nexus in Bolivia