... between ownership concentration and earnings informativeness. As the incentive alignment and the information effects could coexist, the relation between ownership concentration and earnings informativeness ... complex earnings- generating process, may have weaker earnings- return relations than firms operating in a single industry.15 Finally, we include firm size as a control for other missing factors ... accounting studies (Ball, Kothari, and Robin, 2000; Ball, Robin, and Wu, 1999; and Ali and Hwang, 2000) have provided evidence that in addition to accounting standards, features of the institutional...