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This paper aims to investigate the determinants and consequences of using disclaimer language in the banks’ audit committee (AC) reports. This study aims to analyze the factors tempting AC members of banks to disclose disclaimer language in the AC reports and the effect of such language on the cost of equity.

The data cover the period from 2006 to 2015 and considers the top US bank holding companies. Voluntary disclosure in the AC report is manually coded by using a scoring grid. Multivariate regression analysis is mainly used in the study.

The findings suggest that the ACs are using the disclaimer language to protect themselves when disclosing a high level of voluntary information that describes their oversight activities or to reduce their liability exposure due to lower financial reporting quality. The findings also reveal that investors are requiring a higher return on their investments whenever ACs use disclaimer language in their reports.

The AC report provides useful information to shareholders who evaluate the AC’s performance and accordingly vote for or against AC members on annual basis. The paper sheds lights on the motives and consequences of disclaimer language in the ACs report. Thus, the study benefits shareholders by providing empirical evidence in regard to the usage of disclaimer language. Also, the findings benefit industry, corporate governance organizations, standard setters and regulators that analyze AC disclosures and issue recommendations or new standards for improving those disclosures.

The purpose of this study is to evaluate the tempering effect of the presence of a female chief financial officer (CFO) on potentially dominant chief executive officer (CEO) behavior expressed through the overvaluing of acquisition premiums.

This study used Securities Data Corporation (SDC) database data over an eight-year period to analyze the relationships between CEO dominance and the acquisition premiums paid in an acquisition deal. The study also analyzes the effect of CFO gender in curbing CEO dominance in the acquisition deals. The authors employ clustered standard errors ordinary least squares (OLS) regression analysis along with robustness testing, which supports the validity of our conclusions.

The authors expect and find that as CEO dominance rises, so does the acquisition premium; however, the presence of a female CFO in such situations significantly reduces the overpayment of the acquisition premium.

The study findings advocate for organizational change in the form of an increased presence of female CFOs within business organizations.

This study contributes to the accounting literature by timely exploiting a rising trend in which female executives are expected to become more prolific. The authors’ research indicates that their entrenchment into business organizations, thereby promoting gender diversity, produces beneficial outcomes for those organizations. It also capitalizes on the specific attributes of the CEO–CFO relationship, which lends itself to particular effectiveness in the hands of female CFOs.

This study aims to examine whether and how the power of a chief executive officer (CEO) relates to firm-level research and development (R&D) investment.

The authors use clustered standard errors ordinary least squares regression using a large sample of US firms from 1994 to 2017.

The authors find a significant negative relation between CEO power and R&D investment, suggesting that firms with more powerful CEOs are less likely to invest in R&D activities. Besides, the study finds that this significant negative relation is largely driven by firms with weaker corporate governance.

This study contributes to the finance literature on the impact and consequences of having powerful CEOs and the financial accounting literature on the determinants of R&D expenditures.

This study explores the multi-phasic experience of festivals to understand the nature, purpose and degree of social media (SM) use before, during and after festival occurrence and how this may inform better engagement of attendees.

A census of tweets and posts from four festivals’ Twitter handles and Facebook accounts were coded and analyzed across three time points: one week prior, during and one week after the festival. They were coded on nature (e.g. conversational, promotional, informational), purpose (e.g. information-seeking, friendship/relationship) and presence of links, photos, etc. Tests for platform influences on usage were conducted.

In total, 1,169 tweets and 483 posts were captured. Two-thirds of SM activity occurred during the festivals, one-third pre-festival and minimal activity post festival. Temporal analyses found that while the purpose and nature of the message content varied across festival time points, this was often dependent on SM platform.

Festivals are not taking advantage of the multi-phase experience model and the utility of SM to maintain contact and encourage visitors to continue processing their experience after the festival. This lost opportunity has implications for re-patronizing behaviour and sponsor relationships.

Leung et al. (2013a) call for sector specific research to elucidate SM use in tourism. Festivals provide a unique environment of co-created experience. Findings suggest differential usage of SM across festival time frames and platforms that can be used to guide festival organizations’ SM communication to better engage its patrons.