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| Author: | Ali, A. Chen, T-Y. Radhakrishnan, S. |
| Title: | Corporate disclosures by family firms |
| Journal: | Journal of Accounting & Economics
2007 : SEP, VOL. 44: 1-2 p. 238-286 |
| Index terms: | family firms disclosure corporate governance forecasting USA |
| Language: | eng |
| Abstract: | This study shows that characteristics of family firms (less severe agency problems due to separation of ownership and management) affect their corporate disclosure practices: family firms make better financial disclosure and they have larger analyst following as well as smaller bid-ask spreads. In the study, US family and non-family firms in S&P 500 are investigated. The results reveal that family firms report better quality earnings and warn more likely for a given magnitude of bad news. However, they make fewer disclosures about their corporate governance practices. |
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