英文摘要 |
The purpose of this paper is to investigate the relationships among the local choice of foreign direct investment, family business and earnings quality. The sample includes the public listed companies ranging from 2001 to 2010. The results indicate that international investment leads to complex financial statements and make information asymmetry seriously between managers and outside investors. Our findings suggest that the value-relevance of earnings is significantly smaller for firms that has higher ratio of investing in OECD List of Uncooperative Tax Havens indicating investing location will influence earnings value relevance. We also find that the negative impacts of FDI (Foreign direct investment) location choice on earnings quality will deteriorate in family business as well as in the circumstances when there is a greater divergence between board seats control, cash flow rights and voting rights. |