Advocates of fair value accounting believe that fair valuesprovide more relevant measures of assets, liabilities, andearnings than do historical costs. These advocates assertthat fair value accounting better reflects underlying economicvalues. The advantages of this method—and thecorresponding...

We present evidence on the effect of social connections between workers and managerson productivity in the workplace. To evaluate whether the existence of social connections isbeneficial to the firm’s overall performance, we explore how the effects of social connectionsvary with the strength...