We show that firms located in states where property crime is more prevalent have more uncertain earnings and higher financing costs. Specifically, firms located in states with higher property crime rates have more volatile and less persistent earnings as well as lower quality analysts' earnings...

Since 2014, a number of U.S. states have legalized business activities related to the production, distribution, and use of recreational cannabis. These activities remain illegal at the U.S. federal level, creating a dual regulatory environment. The uncertainty related to the enforcement of...

Part of the FASB's broader simplification initiative, ASU 2016-09 was issued on March 30, 2016 and became effective for all firms for fiscal years beginning after December 15, 2016. ASU 2016-09 simplifies the accounting for the tax effects of stock-based compensation by requiring firms to record...