... and financial reporting quality, these findings largely stem from developed economies with dispersed ownership structures. Most prior studies narrowly focus on the monitoring role of independent directors, neglecting their advisory function and the broader institutional and cultural settings in which boards...

... accruals will lead to more robust results. Originality/value The empirical literature emphasizes the monitoring role played by these shareholders on earnings management. However, it does not distinguish between the circumstances when the monitors either lose or win from exaggerations. This research...