The effect of management style on financial statement comparability: evidence from Korean business groups

Abstract

In this study, we investigate whether firm-pairs in the same business group have more comparable earnings than firm-pairs in different business groups. We find evidence consistent with our hypothesis that accounting earnings comparability is greater when two firms are members of the same business group. Additionally, we find that accounting earnings comparability for firm-pairs in the same business group is greater where insider ownership of business groups is higher and the exchange of board personnel is more frequent. In sum, we confirm that ‘management style’ in each business group contributes to an improvement in accounting earnings comparability across member firms in the same business group.

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