I would like to thank the members of my dissertation committee, Paul Healy, Krishna Palepu, and Eddie Riedl for their invaluable suggestions and support. I am grateful to Abbie Smith (editor), an anonymous referee, David Aboody, Ray Ball, Phil Berger, Alexander Bleck, Mark Bradshaw, George Foster, Claudine Gartenberg, Trevor Harris, Chris Higson, Jack Hughes, Raffi Indjejikian, Ioannis Ioannou, Michael Kimbrough, Andrei Kovrijnykh, Venkat Kuppuswamy, Christian Leuz, Maria Loumioti, Russell Lundholm, Greg Miller, Doron Nissim, Karthik Ramanna, Cathy Shakespeare, Shyam Sunder, Irem Tuna, Ro Verrecchia, Joe Weber, Holly Yang and seminar participants at London Business School, University of Pennsylvania, University of Michigan, Stanford University, UCLA, Columbia University, University of Chicago, Yale University, Harvard University, and London School of Economics for many helpful comments. Special thanks go to Joanne Horton and Richard Macve. Technical and industry expertise from PwC, KPMG, and Tillinghast Towers Perrin was very helpful. I also thank the International Association of Insurance Supervisors for giving access to the database of insurance laws and regulations and Sarah Erickson from Harvard Business School research services for helping me to obtain access. Many thanks go to two anonymous investment banks that provided me with data. I would also like to thank many research analysts, fund managers, and corporate executives that agreed to be interviewed. The financial support of the ICAEW's charitable trusts is gratefully acknowledged. I am solely responsible for any remaining errors.
Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting
Article first published online: 22 FEB 2011
©, University of Chicago on behalf of the Accounting Research Center, 2011
Journal of Accounting Research
Volume 49, Issue 2, pages 529–571, May 2011
How to Cite
SERAFEIM, G. (2011), Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting. Journal of Accounting Research, 49: 529–571. doi: 10.1111/j.1475-679X.2011.00401.x
- Issue published online: 1 APR 2011
- Article first published online: 22 FEB 2011
- Accepted manuscript online: 17 JAN 2011 11:23PM EST
- Received 5 May 2010; accepted 8 November 2010
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