We propose a new method to estimate intangible investment outlays, other than expenditures on advertising and research and development, that are reported on a commingled basis with operating expenses in the selling, general, and administrative (SG&A) category of expenses. These outlays, aimed at...

Vijay Govindarajan, Ashish Sood, Anup Srivastava, Luminita Enache, and Barry Mishra have found that companies must focus relentlessly on building long-term competencies, even if doing so reduces immediate profits. Nonetheless, it is vital to shift focus when your product or idea becomes...

Extensive debate exists among policy makers and economists about the employment of highly skilled immigrants in the U.S. It remains unclear whether these immigrants perform complementary tasks in addition to their substitutive role relative to native graduates. Empirical studies examining these...

Immigrants receiving advanced educational degrees in the U.S. play an increasingly important role in the U.S. economy. Visa regulation concerning their employment by U.S. corporations, however, is a subset of the overall H-1B visa policy that has remained largely unchanged over the last 25 years...

Firms often change their operating policy to meet a short-term financial reporting target. Accounting researchers call such an opportunistic action real earnings management (REM). They measure REM by the difference between a firm's costs and those reported by its industry peers. Firms that...

This paper presents a comprehensive analysis of reorganization provisions available to financially distressed firms in three major economies – the U.S. the U.K., and Japan. The paper addresses a central question of the relative effectiveness of the various bankruptcy laws in resolving...

In this study, we examine whether CEOs' stock-based compensation has any relationship with the disclosure of highly proprietary information. While prior studies suggest that stock-based compensation provides managers with an incentive to enhance their voluntary disclosures in general, we argue...

Prior literature shows that financial disclosures and corporate governance both impact firm performance. This paper documents an important topic that has been overlooked in the prior literature, their joint effect, because the two mechanisms could be independent, substitutive, or complementary...

We apply latent Dirichlet allocation to examine the textual characteristics of firms’ transition disclosures in the context of the adoption of Accounting Standard Codification (ASC) 842 on leases. We find that firms’ lease transition disclosures become less readable and more dissimilar the...