... relation of earnings changes with stock returns and argue that this is due to the lower persistence of negative earnings levels and changes. Finally, the authors find that the value relevance of accounting information in Serbia increases after the improvements in capital market regulation. Research...

.... Sheraz Ahmed can be contacted at: sheraz.ahmed@lut.fi © Emerald Group Publishing Limited 2015 Transparency international Discretionary accruals Earnings management Stock returns Ownership structure Berle and Means (1932) and Jensen and Meckling (1976) argue that insiders do...

... management and help determine whether this setting would lead to a higher or lower propensity for earnings management. Hany Kamel can be contacted at: hany.kamel@aau.ac.ae © Emerald Group Publishing Limited 2012 Egypt Financial reporting Stock returns Earnings management Initial public...