메뉴 건너뛰기




Volumn 24, Issue 8, 2009, Pages 767-791

Shareholder rights, corporate governance and earnings quality: The influence of institutional investors

Author keywords

Corporate governance; Earnings; Shareholders

Indexed keywords


EID: 70349622833     PISSN: 02686902     EISSN: None     Source Type: Journal    
DOI: 10.1108/02686900910986402     Document Type: Article
Times cited : (36)

References (56)
  • 2
    • 20444470173 scopus 로고    scopus 로고
    • The association between outside directors, institutional investors and the properties of management earnings forecasts
    • Ajinkya, B., Bhojraj, S. and Partha, S. (2005), "The association between outside directors, institutional investors and the properties of management earnings forecasts", Journal of Accounting Research, Vol. 43, pp. 343-76.
    • (2005) Journal of Accounting Research , vol.43 , pp. 343-76
    • Ajinkya, B.1    Bhojraj, S.2    Partha, S.3
  • 3
    • 0043108933 scopus 로고
    • Proxy season quiet about elective pensions
    • Anand, V. (1993), "Proxy season quiet about elective pensions", Pensions and Investment Age, Vol. 21, p. 3.
    • (1993) Pensions and Investment Age , vol.21 , pp. 3
    • Anand, V.1
  • 4
    • 33751173247 scopus 로고    scopus 로고
    • Corporate governance and the cost of equity capital
    • working paper, University of Wisconsin, Madison, WI
    • Ashbaugh, H., Collins, D. and LaFond, R. (2004), "Corporate governance and the cost of equity capital", University of Wisconsin, Madison, WI, working paper.
    • (2004)
    • Ashbaugh, H.1    Collins, D.2    LaFond, R.3
  • 5
    • 60849120510 scopus 로고    scopus 로고
    • Shareholder rights, corporate governance and accounting restatement
    • available at
    • Baber, W.R., Kang, S.H. and Liang, L. (2007), "Shareholder rights, corporate governance and accounting restatement", available at: Http://ssrn.com/abstract=760324.
    • (2007)
    • Baber, W.R.1    Kang, S.H.2    Liang, L.3
  • 6
    • 0030305316 scopus 로고    scopus 로고
    • An empirical analysis of the relation between the board of director composition and financial statement fraud
    • Beasley, M.S. (1996), "An empirical analysis of the relation between the board of director composition and financial statement fraud", The Accounting Review, Vol. 71, pp. 443-65.
    • (1996) The Accounting Review , vol.71 , pp. 443-65
    • Beasley, M.S.1
  • 8
    • 70349613156 scopus 로고    scopus 로고
    • Blue Ribbon Committee Findings, American Institute of Certified Public Accountants, New York, NY
    • Blue Ribbon Committee Findings (1999), Blue Ribbon Committee Findings, American Institute of Certified Public Accountants, New York, NY.
    • (1999) Blue Ribbon Committee Findings
  • 10
    • 0035632845 scopus 로고    scopus 로고
    • A temporal analysis of earnings surprises: Profits versus losses
    • Brown, L.D. (2001), "A temporal analysis of earnings surprises: Profits versus losses", Journal of Accounting Research, Vol. 39, No. 2, pp. 221-41.
    • (2001) Journal of Accounting Research , vol.39 , Issue.2 , pp. 221-41
    • Brown, L.D.1
  • 11
    • 0032116927 scopus 로고    scopus 로고
    • The influence of institutional investors on myopic R&D investment behavior
    • Bushee, B. (1998), "The influence of institutional investors on myopic R&D investment behavior", Accounting Review, Vol. 73, pp. 305-33.
    • (1998) Accounting Review , vol.73 , pp. 305-33
    • Bushee, B.1
  • 12
    • 0001151593 scopus 로고    scopus 로고
    • Do institutional investors prefer near-term earnings over long-run value?
    • Bushee, B. (2001), "Do institutional investors prefer near-term earnings over long-run value?", Contemporary Accounting Research, Vol. 18, pp. 207-46.
    • (2001) Contemporary Accounting Research , vol.18 , pp. 207-46
    • Bushee, B.1
  • 14
    • 1142289719 scopus 로고    scopus 로고
    • Institutional monitoring and opportunistic earnings management
    • Chung, R., Michael, F. and Kim, J. (2002), "Institutional monitoring and opportunistic earnings management", Journal of Corporate Finance, Vol. 8, pp. 29-48.
    • (2002) Journal of Corporate Finance , vol.8 , pp. 29-48
    • Chung, R.1    Michael, F.2    Kim, J.3
  • 15
    • 46049100780 scopus 로고    scopus 로고
    • Real and accrual-based earnings management in the pre- and post-Sarbanes Oxley periods
    • Cohen, D.A., Aiyesha, D. and Thomas, L.Z. (2008), "Real and accrual-based earnings management in the pre- and post-Sarbanes Oxley periods", The Accounting Review, Vol. 83, pp. 757-87.
    • (2008) The Accounting Review , vol.83 , pp. 757-87
    • Cohen, D.A.1    Aiyesha, D.2    Thomas, L.Z.3
  • 17
    • 0742329263 scopus 로고    scopus 로고
    • Why are earnings kinky? An examination of the earnings management explanation
    • DeChow, P.M., Richardson, S. and Tuna, I. (2003), "Why are earnings kinky? An examination of the earnings management explanation", Review of Accounting Studies, Vol. 8, pp. 255-384.
    • (2003) Review of Accounting Studies , vol.8 , pp. 255-384
    • DeChow, P.M.1    Richardson, S.2    Tuna, I.3
  • 19
    • 2142720242 scopus 로고    scopus 로고
    • Causes and consequences to earnings manipulation: An analysis of firms subject to enforcement action by the SEC
    • DeChow, P.M., Sloan, R.G. and Sweeney, A.P. (1996), "Causes and consequences to earnings manipulation: An analysis of firms subject to enforcement action by the SEC", Contemporary Accounting Research, Vol. 13, pp. 1-36.
    • (1996) Contemporary Accounting Research , vol.13 , pp. 1-36
    • DeChow, P.M.1    Sloan, R.G.2    Sweeney, A.P.3
  • 20
    • 0000628687 scopus 로고
    • Debt covenants effects and the manipulation of accruals
    • DeFond, M. and Jiambalvo, J. (1994), "Debt covenants effects and the manipulation of accruals", Journal of Accounting and Economics, Vol. 17, pp. 145-76.
    • (1994) Journal of Accounting and Economics , vol.17 , pp. 145-76
    • DeFond, M.1    Jiambalvo, J.2
  • 21
    • 43049111919 scopus 로고    scopus 로고
    • Corporate governance, accountability and pressures to perform
    • Demirag, I. (1998), "Corporate governance, accountability and pressures to perform", Studies in Managerial and Financial Accounting, Vol. 8, pp. 21-35.
    • (1998) Studies in Managerial and Financial Accounting , vol.8 , pp. 21-35
    • Demirag, I.1
  • 22
    • 84942585214 scopus 로고
    • Disclosure, liquidity, and the cost of capital
    • Diamond, D. and Verrecchia, R. (1991), "Disclosure, liquidity, and the cost of capital", The Journal of Finance, Vol. 66, pp. 1325-55.
    • (1991) The Journal of Finance , vol.66 , pp. 1325-55
    • Diamond, D.1    Verrecchia, R.2
  • 23
    • 0000928969 scopus 로고
    • Risk, return and equilibrium: Empirical tests
    • Fama, E.F. and MacBeth, J. (1973), "Risk, return and equilibrium: Empirical tests", Journal of Political Economy, Vol. 81, pp. 607-36.
    • (1973) Journal of Political Economy , vol.81 , pp. 607-36
    • Fama, E.F.1    MacBeth, J.2
  • 24
    • 0002181941 scopus 로고    scopus 로고
    • The role of big six auditors in the credible reporting of accruals
    • Francis, J., Maydew, E. and Sparks, H. (1999), "The role of big six auditors in the credible reporting of accruals", Auditing: A Journal of Practice & Theory, Vol. 18, No. 2, pp. 17-34.
    • (1999) Auditing: A Journal of Practice & Theory , vol.18 , Issue.2 , pp. 17-34
    • Francis, J.1    Maydew, E.2    Sparks, H.3
  • 25
    • 10344257973 scopus 로고    scopus 로고
    • The consequences of ownership structure and corporate governance on competitiveness
    • working paper, Universite de Quebec, Montréal
    • Gadhoum, Y. (2000), "The consequences of ownership structure and corporate governance on competitiveness", Universite de Quebec, Montréal, working paper.
    • (2000)
    • Gadhoum, Y.1
  • 26
    • 0000353081 scopus 로고    scopus 로고
    • Corporate governance proposals and shareholder activism: The role of institutional investors
    • Gillan, S.L. and Starks, L.T. (2000), "Corporate governance proposals and shareholder activism: The role of institutional investors", Journal of Financial Economics, Vol. 57, pp. 275-305.
    • (2000) Journal of Financial Economics , vol.57 , pp. 275-305
    • Gillan, S.L.1    Starks, L.T.2
  • 28
    • 0002876619 scopus 로고
    • Institutional ownership and control: Implications for long-term corporate strategy
    • Graves, S.B. and Waddock, S. (1990), "Institutional ownership and control: Implications for long-term corporate strategy", Academy of Management Executive, Vol. 4, pp. 75-83.
    • (1990) Academy of Management Executive , vol.4 , pp. 75-83
    • Graves, S.B.1    Waddock, S.2
  • 29
    • 58149210589 scopus 로고
    • The information content of losses
    • Hayn, C. (1995), "The information content of losses", Journal of Accounting and Economics, Vol. 20, No. 2, pp. 125-53.
    • (1995) Journal of Accounting and Economics , vol.20 , Issue.2 , pp. 125-53
    • Hayn, C.1
  • 30
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs and ownership structure
    • Jensen, M. and Meckling, W. (1976), "Theory of the firm: Managerial behavior, agency costs and ownership structure", Journal of Financial Economics, Vol. 3, pp. 305-60.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-60
    • Jensen, M.1    Meckling, W.2
  • 32
    • 0043227323 scopus 로고    scopus 로고
    • Institutional ownership and the extent to which stock prices reflect future earnings
    • Jiambalvo, J., Rajgopal, S. and Venkatachalam, M. (2002), "Institutional ownership and the extent to which stock prices reflect future earnings", Contemporary Accounting Research, Vol. 19, pp. 117-45.
    • (2002) Contemporary Accounting Research , vol.19 , pp. 117-45
    • Jiambalvo, J.1    Rajgopal, S.2    Venkatachalam, M.3
  • 33
    • 0000862461 scopus 로고
    • Earnings management during import relief investigations
    • Jones, J. (1991), "Earnings management during import relief investigations", Journal of Accounting Research, Vol. 29, pp. 193-228.
    • (1991) Journal of Accounting Research , vol.29 , pp. 193-228
    • Jones, J.1
  • 34
    • 33751562710 scopus 로고    scopus 로고
    • On the association between voluntary disclosure and earnings management
    • Kasznik, R. (1999), "On the association between voluntary disclosure and earnings management", Journal of Accounting Research, Vol. 33, pp. 353-67.
    • (1999) Journal of Accounting Research , vol.33 , pp. 353-67
    • Kasznik, R.1
  • 35
    • 0036331491 scopus 로고    scopus 로고
    • Audit committee, board of director characteristics, and earnings management
    • Klein, A. (2002), "Audit committee, board of director characteristics, and earnings management", Journal of Accounting and Economics, Vol. 33, pp. 375-400.
    • (2002) Journal of Accounting and Economics , vol.33 , pp. 375-400
    • Klein, A.1
  • 36
    • 12344316610 scopus 로고    scopus 로고
    • Performance matched discretionary accrual measures
    • Kothari, S., Leone, A. and Wasley, C. (2005), "Performance matched discretionary accrual measures", Journal of Accounting and Economics, Vol. 39, No. 1, pp. 163-97.
    • (2005) Journal of Accounting and Economics , vol.39 , Issue.1 , pp. 163-97
    • Kothari, S.1    Leone, A.2    Wasley, C.3
  • 37
    • 0004029901 scopus 로고    scopus 로고
    • Institutional trading and corporate earnings and returns
    • working paper, Stanford University, Stanford, CA
    • Lang, M.H. and McNichols, M.F. (1997), "Institutional trading and corporate earnings and returns", Stanford University, Stanford, CA, working paper.
    • (1997)
    • Lang, M.H.1    McNichols, M.F.2
  • 38
    • 0004029901 scopus 로고    scopus 로고
    • Institutional trading and corporate performance
    • working paper, Stanford University, Stanford, CA
    • Lang, M.H. and McNichols, M.F. (1999), "Institutional trading and corporate performance", Stanford University, Stanford, CA, working paper.
    • (1999)
    • Lang, M.H.1    McNichols, M.F.2
  • 40
    • 34548289334 scopus 로고    scopus 로고
    • Corporate governance, accounting outcomes, and organizational performance
    • Larcker, D.F., Richardson, S.A. and Tuna, I. (2007), "Corporate governance, accounting outcomes, and organizational performance", The Accounting Review, Vol. 82, No. 4, pp. 963-1008.
    • (2007) The Accounting Review , vol.82 , Issue.4 , pp. 963-1008
    • Larcker, D.F.1    Richardson, S.A.2    Tuna, I.3
  • 41
    • 0030509373 scopus 로고    scopus 로고
    • Economic 'short-termism': The debate, the unresolved issues, and the implications for management practice and research
    • Laverty, K. (1996), "Economic 'short-termism': The debate, the unresolved issues, and the implications for management practice and research", Academy of Management Review, Vol. 21, pp. 825-60.
    • (1996) Academy of Management Review , vol.21 , pp. 825-60
    • Laverty, K.1
  • 42
    • 0042012826 scopus 로고    scopus 로고
    • Earnings management and investor protection: An international comparison
    • Leuz, C., Dhananjay, N. and Wysocki, P.D. (2003), "Earnings management and investor protection: An international comparison", Journal of Financial Economics, Vol. 69, pp. 505-27.
    • (2003) Journal of Financial Economics , vol.69 , pp. 505-27
    • Leuz, C.1    Dhananjay, N.2    Wysocki, P.D.3
  • 43
    • 33751558403 scopus 로고    scopus 로고
    • Did conservatism in financial reporting increase after the Sarbanes Oxley Act? Initial evidence
    • Lobo, G.J. and Zhou, J. (2006), "Did conservatism in financial reporting increase after the Sarbanes Oxley Act? Initial evidence", Accounting Horizons, Vol. 20, pp. 57-73.
    • (2006) Accounting Horizons , vol.20 , pp. 57-73
    • Lobo, G.J.1    Zhou, J.2
  • 44
    • 0011088442 scopus 로고
    • Additional evidence on equity ownership and corporate value
    • McConnell, J. and Servaes, H. (1990), "Additional evidence on equity ownership and corporate value", Journal of Financial Economics, Vol. 27, pp. 595-612.
    • (1990) Journal of Financial Economics , vol.27 , pp. 595-612
    • McConnell, J.1    Servaes, H.2
  • 45
    • 0035995637 scopus 로고    scopus 로고
    • Management's incentives to avoid negative earnings surprises
    • Matsumoto, D.A. (2002), "Management's incentives to avoid negative earnings surprises", The Accounting Review, Vol. 77, pp. 483-514.
    • (2002) The Accounting Review , vol.77 , pp. 483-514
    • Matsumoto, D.A.1
  • 47
    • 0004036140 scopus 로고    scopus 로고
    • Empirical research on auditor litigation
    • Studies in Accounting Research No. 33, American Accounting Association, Sarasota, FL
    • Palmrose, Z.V. (1999), "Empirical research on auditor litigation", American Accounting Association, Sarasota, FL, Studies in Accounting Research No. 33.
    • (1999)
    • Palmrose, Z.V.1
  • 48
    • 0026916527 scopus 로고
    • Capital disadvantage: America's failing capital investment system
    • Porter, M.E. (1992), "Capital disadvantage: America's failing capital investment system", Harvard Business Review, Vol. 70, pp. 65-82.
    • (1992) Harvard Business Review , vol.70 , pp. 65-82
    • Porter, M.E.1
  • 49
    • 0001026456 scopus 로고    scopus 로고
    • A survey of corporate governance
    • Shleifer, A. and Vishny, R. (1997a), "A survey of corporate governance", The Journal of Finance, Vol. 52, pp. 737-83.
    • (1997) The Journal of Finance , vol.52 , pp. 737-83
    • Shleifer, A.1    Vishny, R.2
  • 50
    • 0002307601 scopus 로고    scopus 로고
    • The limits of arbitrage
    • Shleifer, A. and Vishny, R. (1997b), "The limits of arbitrage", Journal of Finance, Vol. 52, pp. 35-55.
    • (1997) Journal of Finance , vol.52 , pp. 35-55
    • Shleifer, A.1    Vishny, R.2
  • 51
    • 0003337516 scopus 로고    scopus 로고
    • Institutions, individuals and return autocorrelations
    • working paper, University of Texas, Austin, TX
    • Sias, R.W. and Starks, L.T. (1998), "Institutions, individuals and return autocorrelations", University of Texas, Austin, TX, working paper.
    • (1998)
    • Sias, R.W.1    Starks, L.T.2
  • 52
    • 33745629505 scopus 로고    scopus 로고
    • SEC considering rule that would allow shareholders to nominate board members
    • Solomon, D. and Lublin, J. (2004), "SEC considering rule that would allow shareholders to nominate board members", Wall Street Journal, Vol. 22.
    • (2004) Wall Street Journal , vol.22
    • Solomon, D.1    Lublin, J.2
  • 53
    • 0032220833 scopus 로고    scopus 로고
    • Fraudulent misstated financial statements and insider trading: An empirical analysis
    • Summers, S.L. and Sweeney, J.T. (1998), "Fraudulent misstated financial statements and insider trading: An empirical analysis", The Accounting Review, Vol. 73, pp. 131-46.
    • (1998) The Accounting Review , vol.73 , pp. 131-46
    • Summers, S.L.1    Sweeney, J.T.2
  • 54
    • 0010082543 scopus 로고    scopus 로고
    • Do institutions investors exacerbate managerial myopia?
    • unpublished working paper, Purdue University, West Lafayette, IN
    • Wahal, S. and McConnell, L. (1997), "Do institutions investors exacerbate managerial myopia?", Purdue University, West Lafayette, IN, unpublished working paper.
    • (1997)
    • Wahal, S.1    McConnell, L.2
  • 55
    • 0000047027 scopus 로고
    • Positive accounting theory: A ten-year perspective
    • Watts, R. and Zimmerman, J. (1990), "Positive accounting theory: A ten-year perspective", The Accounting Review, Vol. 65, pp. 112-34.
    • (1990) The Accounting Review , vol.65 , pp. 112-34
    • Watts, R.1    Zimmerman, J.2
  • 56
    • 0000095552 scopus 로고
    • A heteroscedasticity consistent covariance matrix estimator and a direct test for heteroscedasticity
    • White, H. (1980), "A heteroscedasticity consistent covariance matrix estimator and a direct test for heteroscedasticity", Econometrica, Vol. 48, pp. 817-38.
    • (1980) Econometrica , vol.48 , pp. 817-38
    • White, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.