A persistent difficulty in monitoring private-credit risk is that narrative and quantitative information in periodic filings are produced jointly but evaluated separately. This leaves open the question of whether disclosure language is a useful signal of risk management behaviour or merely an echo of conditions already...
In this paper, we examine the impact of credit rating distance between acquirers and targets on mergers and acquisitions, using a sample of 409 U.S. domestic deals. We find that deals involving greater credit rating distance have significantly higher synergy returns, larger abnormal returns for both acquirers and tar...
Regression analysis suggested that the association between AI disclosure intensity and short-term abnormal returns varies across industry groups, with AI-related communication appearing to have a stronger relationship with market reactions, particularly among technology-oriented firms.
This paper focuses on whether adopting International Financial Reporting Standards (IFRS) reduces financial risk and accounting fraud. Using 9,194 firm-year observations from Thai-listed non-financial firms between 2011 and 2022, we apply the Beneish M-Score and Altman Z-Score models to detect earnings manipulation and...
This paper aims to examine the associations between inflation expectations and earnings management, accrual-based and real activities manipulation, using a sample of firms listed and incorporated in euro area countries. Drawing on survey-based measures of inflation expectations, along with the models develop...
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