haku: @author Haw, I-M. (et al.) / yhteensä: 1
viite: 1 / 1
« edellinen | seuraava »
| Tekijä: | Haw, I-M. (et al.) |
| Otsikko: | Ultimate ownership, income management, and legal and extra-legal institutions |
| Lehti: | Journal of Accounting Research
2004 : MAY, 42:2, p. 423-462 |
| Asiasana: | Companies Incomes Cash flow Control Law Asia Europe |
| Vapaa asiasana: | Ownership |
| Kieli: | eng |
| Tiivistelmä: | This study provides evidence of the role of both legal and extra-legal institutions in limiting the income management induced by the detachment of control rights from the cash flow rights of ultimate owners. The tests use a unique, comprehensive data set for firm-level control and ownership structures from 9 East Asian and 13 Western European countries. It is shown that income management that is induced by the wedge btw. control rights and cash flow rights is significantly limited in countries with high statutory protection of minority rights and effective extra-legal institutions. In addition, it is shown that a common law tradition and an efficient judicial system subsume the effects of the other legal institutions, and that a high rate of tax compliance subsumes the effects of the other extra-legal institutions in curbing insider income management. |
« edellinen | seuraava »
SCIMA