The empirical determination of whether human capital investment creates intangible assets and contributes to firms' profitability and market values is seriously hampered by the lack of publicly disclosed information on such practices. Using unique survey data regarding employee training...

This research studies the association between multinational firm complexity and analyst following. We first present a model of a firm?s operational complexity in terms of its lines of business and geographic operating regions, considered separately, jointly, and interactively, including a...

We investigate whether risk-related incentives of executive stock option (ESO) compensation plans are associated with income smoothing. Given that risk has both potential benefits and costs, including possible losses and/or large fluctuations that affect reported financial outcomes,...

The literature on disclosure practices has posited a relationship between legal regime and the amount of voluntary disclosure. Specifically, companies in nations with a civil law tradition were expected to make more voluntary disclosure to compensate for the information that would otherwise be...