MSCI, widely considered the largest data provider to the ESG investment community, sells ESG ratings for companies and constructs its own ESG indexes based on such ratings. Such ESG indexes underlie the creation of several ESG ETFs (exchange traded funds) or mutual funds. Motivated by such...

Using audit-partner-level data on audit adjustments for public firms and audit-opinion data for private firms, we study whether and how public firm audit regulation impacts audit partners’ private firm auditing practices. We exploit a regulation in China that only applies to public firm...

We investigate how improvements in organizations’ internal communication technology affect their voluntary disclosure, a form of external communication. By developing a model with a headquarters manager and several divisional managers, we formalize two competing economic forces—information...

We study a previously under-explored channel through which firms can exert influence over foreign governments’ policy-making—investor-state dispute settlement—and provide descriptive evidence of firms’ economic incentives. Guided by a theory on firms’ regulatory challenges, we find...

Prior literature suggests changes in financial reporting improve investment decisions and forwards two non-exclusive mechanisms. First, financial reporting quality (FRQ) can lead to increased investment efficiency by lowering external information asymmetry. Second, changes in financial reporting...

In a series of federal court cases, judges have debated whether data breaches that expose consumer information satisfy Article III of the United States Constitution’s requirement that plaintiffs suffer an “injury in fact.” Judicial opinions find no constitutional standing in a narrow...

We explore how information exposure, specifically information transmission within organizations, facilitates companies' roles as corporate citizens. We study whether US firms' business networks with China and Italy become their information advantage, and examine whether firms use relevant...

We explore how information exposure, specifically information transmission within organizations, facilitates companies' roles as corporate citizens. We study whether US firms' business networks with China and Italy become their information advantage, and examine whether firms use relevant...

I examine whether auditors generalize their knowledge across different clients (cross-client learning) to prevent data breaches. I focus on two audit mistakes. One relates directly to data breaches, and the other is severe restatements (indirect experiences strongly related to auditors’...

We explore how information exposure, specifically information transmission within organizations, facilitates companies’ roles as corporate citizens. We study whether US firms’ business networks with China and Italy become their information advantage, and examine whether firms use relevant...