The role of foreign shareholders in disciplining financial reporting

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Show simple item record Beuselinck, Christof Blanco, Belén García-Lara, Juan M. 2022-06-29T17:09:02Z 2022-06-29T17:09:02Z 2017-06-01
dc.identifier.bibliographicCitation Beuselinck, C., Blanco, B., & García Lara, J. M. (2017). The Role of Foreign Shareholders in Disciplining Financial Reporting. Journal of Business Finance & Accounting, 44 (5-6), pp. 558-592.
dc.identifier.issn 0306-686X
dc.description.abstract We investigate the role of foreign shareholders in improving the quality of accounting information provided by firms domiciled in countries with low de facto institutional quality. Using a sample of firms from four South European countries (Greece, Italy, Portugal and Spain) for which we observe detailed ownership evolutions over the period 2002-2007, we find that increases in foreign ownership lead to increases in financial reporting quality but only if the foreign shareholders are domiciled in countries with strong investor protection mechanisms. Further, we find that the improvement in financial reporting quality is more pronounced in the case of foreign institutional investors. Finally, our results hold before and after the introduction of the International Financial Reporting Standards (IFRS) in 2005.
dc.description.sponsorship The authors gratefullyacknowledge financial support from the European Commission Research Training Network INTACCT,from the Spanish Ministry of Economy and Competition (ECO2016-77579 and ECO2013-48328), fromthe Government of Comunidad de Madrid (H2015/HUM-3417, INNCOMCON-CM) and from the Ramón Areces Foundation.
dc.language.iso eng
dc.publisher Wiley
dc.rights © 2017 John Wiley & Sons, Ltd.
dc.subject.other Earnings quality
dc.subject.other Foreign investors
dc.subject.other Institutional investors
dc.subject.other Ownership structure
dc.subject.other International accounting standards
dc.subject.other Earnings management
dc.title The role of foreign shareholders in disciplining financial reporting
dc.type article
dc.subject.jel G30
dc.subject.jel M40
dc.subject.eciencia Economía
dc.subject.eciencia Empresa
dc.rights.accessRights openAccess
dc.relation.projectID Gobierno de España. ECO2013-48328-C3-3-P
dc.relation.projectID Comunidad de Madrid. S2015/HUM-3417
dc.relation.projectID Gobierno de España. ECO2016-77579-C3-2-P
dc.type.version acceptedVersion
dc.identifier.publicationfirstpage 558
dc.identifier.publicationlastpage 592
dc.identifier.publicationtitle Journal of Business Finance & Accounting
dc.identifier.publicationvolume 44
dc.identifier.uxxi AR/0000020026
dc.contributor.funder Ministerio de Economía y Competitividad (España)
dc.contributor.funder Comunidad de Madrid
dc.affiliation.dpto UC3M. Departamento de Economía de la Empresa
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