Common ownership (i.e., financial institutions’ block holding of stock in industry rivals) and its implications for investors are matters of current interest and debate (SEC 2018). Motivated by this debate and the salience of common ownership, we investigate whether and how auditors price...

Purpose: The purpose of this study is to examine whether the corruption level of a country is associated with a firm’s decision to choose Big 4 versus non-Big 4 auditors. In addition, the authors examine whether firms that are cross-listed in a country with a corruption level different from...

This paper examines how changes in the credibility of financial reporting affect analyst behavior. Using a sample of restatement firms experiencing a substantial change in credibility over 1997-2006, we document that restatements have a long-lived effect on analyst behavior and that analysts...