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- Paananen, Mari, 1963, et al.
(författare)
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The Quality of Disclosures concerning Environmental Liabilities and the Role of Media Visibility
- 2018
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Ingår i: Nordic Accounting Conference, 2018, Copenhagen.
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Konferensbidrag (refereegranskat)abstract
- We investigate the effect of firm visibility on firms’ disclosure quality. Specifically, we examine the effects of media attention on firms’ disclosures about environmental liabilities by European firms reporting under IFRS during the period 2005 to 2014. Using multivariate analysis, we find that firms that are more visible are more forthcoming with information about discount rates and horizons, use more specific language and adopt a more cautious tone (measured using sentiment analysis). Overall, we find that only 44% (45%) of our sample firms disclose discount rates (horizons) used to estimate the provision. In additional analyses, we examine the content and tone of media articles and find that in cases where the media focuses on environmental issues and uses litigious language, firms disclose more, use more negative language and provide more specific information. Finally, we examine whether there are differences between Eastern and Western Europe when it comes to the disclosure quality and we find that disclosures by Eastern European firms are less affected by visibility in the media.
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- Samani, Niuosha
(författare)
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Family owners with control enhancing mechanisms: Evidence from accruals-based and real earnings management
- 2019
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Ingår i: European Accounting Association Conference.
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Konferensbidrag (refereegranskat)abstract
- This study examines earnings management in family firms that are characterized by having control enhancing mechanisms, including dual-class shares and pyramidal ownership structures. Based on a sample of firms listed on the Stockholm Stock Exchange (2005-2014), the results provide evidence of different effects of family owners on earnings management in firms depending on: the extent of excess voting rights held by family owners, whether family owners control firms through pyramids, and whether the founding family serves as CEO. Specifically, I find that the extent of abnormal accruals increases in family firms as the divergence between voting rights and cash flow rights increases, while the extent of real earnings management is lower in family firms even with the presence of control enhancing mechanisms.
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