Conference paper
Complex Ownership Structures and Accounting Conservatism
American Accounting Association
American Accounting Association (AAA) 2013 Annual Conference (Denver, Colorado, 06/08/2011–10/08/2011)
2011
Abstract
This study examines how complex ownership structures shape accounting conservatism. Using a firm-level complex ownership dataset from thirteen Western European countries, we find that: (1) firms with multiple blockholders apply more conservative accounting than those with a single blockholder or dispersed ownership; (2) unevenly distributed cash-flow rights across multiple large shareholders are positively associated with accounting conservatism; (3) the positive association between the dispersion of cash-flow rights and accounting conservatism only exists when controlling shareholders have different types of ownership. Additional analysis reveals that strong investor/creditor protection institutions and family ownership strengthen the association between the dispersion of cash-flow rights and conservatism. This study highlights the important role played by the second largest controlling shareholder and the characteristics of multiple blockholders in shaping accounting conservatism.
Details
- Title
- Complex Ownership Structures and Accounting Conservatism
- Authors/Creators
- I.-M. Haw (Author/Creator)S.S.M. Ho (Author/Creator)J.Y. Tong (Author/Creator)F.F. Zhang (Author/Creator)
- Conference
- American Accounting Association (AAA) 2013 Annual Conference (Denver, Colorado, 06/08/2011–10/08/2011)
- Publisher
- American Accounting Association
- Identifiers
- 991005541579207891
- Copyright
- The Authors
- Murdoch Affiliation
- Murdoch University
- Language
- English
- Resource Type
- Conference paper
Metrics
71 Record Views