COMMONS DEED
COMMONS DEED
COMMONS DEED
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TOURISMOS: AN INTERNATIONAL MULTIDISCIPLINARY JOURNAL OF TOURISM<br />
Volume 6, Number 3, Winter 2011, pp. 13-36<br />
UDC: 338.48+640(050)<br />
management are more pronounced in firms with high leverage ratios than<br />
in firms with low leverage ratios.<br />
Interesting results are found between achieving the benchmarks and<br />
the ownership structure. No differences have been found between family<br />
owners and mixed owners. This result must be interpreted with caution<br />
due the difficulties in obtaining the data related to ownership structure.<br />
Finally, it is noted that auditors provide quality to the financial reporting.<br />
Non-audited firms engage in more earnings management.<br />
This paper examines one of the most controversial subjects<br />
nowadays. The quality of the financial information concerns to a large<br />
number of stakeholders due to their importance to take decisions in global<br />
markets. This paper supports the hypothesis that managers are not<br />
indifferent when facing earnings figures. It is noted that there is a<br />
preference to report small profits against small losses and it is more<br />
pronounced under certain incentives.<br />
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