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  • Article

Measuring Audit Quality

By: Shivaram Rajgopal, Suraj Srinivasan and Xin Zheng
In this paper, we document 45 specific allegations related to audit deficiencies based on GAAS, as detailed in 141 AAERs and 153 securities class action lawsuits over the violation years 1978–2016. Next, we use these allegations to validate existing popular proxies of... View Details
Keywords: Audit Quality; Audit Deficiency; AAER; Securities Class Action Lawsuits; Enforcement; Accounting Audits; Quality; Measurement and Metrics
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  • May 2011
  • Article

Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting

By: George Serafeim
I analyze Embedded Value (EV) reporting by firms with life insurance operations to assess the impact of unregulated financial reporting on transparency and to examine the institutional characteristics that promote unregulated reporting. Under EV accounting the present... View Details
Keywords: Financial Statements; Mergers and Acquisitions; Financial Reporting; Cash Flow; Contracts; Equity; Profit; Value; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Business and Shareholder Relations; Business Earnings
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  • 06 Apr 2010
  • First Look

First Look: April 6

and Business Groups: New Data and New Methods Authors: Jordan I. Siegel and Prithwiraj Choudhury Abstract The last decade of corporate governance research has been focused in large part on identifying what leads to superior or deficient... View Details
Keywords: Martha Lagace
  • 26 Mar 2013
  • First Look

First Look: March 26

paper integrates the role of entrepreneurship and firms into debates on why Asia, Latin America, and Africa were slow to catch up with the West following the Industrial Revolution and the advent of modern economic growth. It argues that the currently dominant... View Details
Keywords: Sean Silverthorne
  • December 2010
  • Article

The Case for Professional Boards

By: Robert C. Pozen
When the world's largest financial institutions had to be rescued from insolvency in 2008, many experts laid the blame at the feet of corporate boards. But insufficient board oversight is a problem that had supposedly been solved in 2002. As the United States... View Details
Keywords: Financial Institutions; Insolvency and Bankruptcy; Governing and Advisory Boards; Failure; Accounting Audits; Quality; Behavior; Legal Liability; Experience and Expertise; Corporate Governance; Governance Controls; Performance Effectiveness; United States
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  • 01 Dec 2002
  • News

Bad Times for Business

Organizational design, structure, and culture do play a role and almost always have in corporate scandals. Companies that get into trouble often do so because of minimal internal connections between many parts of the organization. With View Details
Keywords: Garry Emmons
  • 20 Jan 2003
  • Research & Ideas

Fixing Corporate Governance: A Roundtable Discussion at Harvard Business School

parts of the organization. With deficient information and knowledge, you can't put all the pieces together or understand when something might be going wrong. Jay Lorsch: There was a cycle of greed throughout the system, and boards, for... View Details
Keywords: by Garry Emmons
  • 04 Jan 2012
  • First Look

First Look: January 4

and New Methods Authors:Jordan I. Siegel and Prithwiraj Choudhury Abstract The corporate governance literature of the past decade has focused on identifying drivers of superior or deficient corporate governance. One of the most rigorous... View Details
Keywords: Carmen Nobel
  • 07 Dec 2010
  • First Look

First Look: Dec. 7

exhibit a decline in information asymmetry, with the decline increasing as EV reporting evolves to address methodological deficiencies and to permit more comparability across firms. The decrease in information asymmetry is contingent on... View Details
Keywords: Sean Silverthorne
  • 12 Apr 2010
  • Research & Ideas

One Report: Better Strategy through Integrated Reporting

the needs and expectations of all stakeholders, how well it is meeting those needs and expectations, and what information will be most useful in reporting on this. Q: What is deficient about current reports? A: The King Code of Governance... View Details
Keywords: by Martha Lagace