XBRL (eXtensible Business Reporting Language) facilitates the efficient processing/interpreting of corporate financial information by investors. This paper examines market reactions to financial statement filings in China in the period before and after the XBRL mandate in China to assess the...

We show that contractual risk-taking incentives for chief executive officers (CEOs) increased at large U.S. commercial banks around 2000, when industry deregulation expanded these banks’ growth opportunities. Our econometric models indicate that CEOs responded positively to these incentives,...

We examine whether banks that paid higher levels of excess compensation prior to the financial crisis made more compensation-related risk disclosures in their proxy statements and made greater changes to their compensation practices following the financial crisis. If banks with higher excess...

In this study we examine differences between sophisticated and unsophisticated investors' incorporation of information about the accuracy of sell-side analysts' revisions of quarterly earnings forecasts. Our results indicate that sophisticated investors' weights on information cues associated...

We examine whether short-term financial reporting objectives related to executive compensation and employment horizons affect managers' decisions to undertake accelerated share repurchases (ASRs) versus open market repurchases (OMRs). In an ASR, the firm repurchases borrowed shares and...

This study examines whether certain types of financial reporting fraud result in a higher likelihood of litigation against independent auditors. We expect that auditors are more likely to be judged responsible for failing to detect commonly occurring frauds or those that stem from fictitious...

We examine whether analysts anticipate the public disclosure of accounting frauds by studying a sample of companies that have committed fraud as evidenced by the Security and Exchange Commission (SEC) issuance of an Accounting and Auditing Enforcement Release (AAER). We use survival analysis to...