Found 2 article(s) for author 'Paul Healy'

Voluntary, Self-Regulatory and Mandatory Disclosure of Oil and Gas Company Payments to Foreign Governments

Voluntary, Self-Regulatory and Mandatory Disclosure of Oil and Gas Company Payments to Foreign Governments. Paul Healy, George Serafeim, 2015, Paper, “Transparency advocates argue that disclosure of oil and gas company payments to host governments for natural resources is a public good, helping to reduce corruption and increase accountability in resource rich countries. Yet we find a very low frequency of voluntary disclosures of payments to host governments by oil and gas firms, and negative stock price reactions for affected firms at the announcement of regulations mandating disclosure. This suggests that sample firm managers and their investors perceive that there are private costs of such voluntary disclosures, contributing to continued low transparency and weak governance in resource rich countries.Link

Tags: , , , , ,

Market competition, earnings management, and persistence in accounting profitability around the world

Market competition, earnings management, and persistence in accounting profitability around the world, Paul Healy, George Serafeim, Suraj Srinivasan, Gwen Yu, January 14, 2014 , Paper. “We examine how cross-country differences in product, capital, and labor market competition, as well as earnings management affect mean reversion in accounting return on assets. Using a sample of 48,465 unique firms from 49 countries, we find that accounting returns mean revert faster in countries where there is more product and capital market competition, as predicted by economic theory…” Link

Tags: , , , , ,