While significant steps have been made toward the acceptance and use of harmonized international accounting standards, there is also strong support for international credentials for accountants - that is, the development of a harmonized set of qualifications for entry into and practice in the...

This paper examines accounting for research and development costs and specifically the treatment of those costs acquired in business combinations that are accounted for as in-process research and development (IPRamp;D). Both the SEC and the FASB expressed concerns over an increase in IPRamp;D...

In empirical tests guided by recent theory (e.g., Hughes, Liu and Liu 2007; and Lambert, Leuz and Verrecchia 2012), we examine the joint effects of information asymmetry and information precision on the cost of capital and how these effects vary based on the amount and quality of available...

Sheng and Thevenot (2011) develop a new measure of uncertainty which is a modification of the uncertainty measure advanced by Barron, Kim, Lim and Stevens (BKLS 1998), and they find this new uncertainty measure to be superior to the BKLS measure in certain settings. We follow Sheng and...

Consistent with the economics of crime approach, this paper finds that insider selling is decreasing in the perceived costs of potential private and public enforcement upon discovery of GAAP misstatements, and increasing in managerial private benefits as measured by the market reaction to the...