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This article examines the impact of inflation and economic growth expectations and perceived stock market uncertainty on the time-varying correlation between stock and bond returns. The results indicate that stock and bond prices move in the same direction during periods of high inflation expectations, while epochs of negative stock–bond return correlation seem to coincide with subdued inflation expectations. Furthermore, consistent with the ‘flight-to-quality’ phenomenon, the results suggest that periods of elevated stock market uncertainty lead to a decoupling between stock and bond prices. Finally, it is found that the stock–bond return correlation is virtually unaffected by economic growth expectations.

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PurposeThe purpose of this paper is to examine the association between earnings management and the gender of the firm's executives.Design/methodology/approachPanel regressions of discretionary accruals on a set of female executive dummies and firm‐specific controls.FindingsThe results provide considerable evidence to suggest that firms with female chief financial officers (CFOs) are associated with income‐decreasing discretionary accruals, thereby implying that female CFOs are following more conservative earnings management strategies.Research limitations/implicationsIn general, the findings indicate that gender‐based differences in conservatism, risk‐aversion, and managerial opportunism may have important implications for financial reporting and corporate governance.Originality/valueThis paper extends prior research by addressing the potential effects of female executives on earnings management. The findings reported in this paper provide novel insights to the empirical financial accounting literature.