In a series of experiments, Bar-Hillel and Budescu (1995) failed to find a desirability bias in probability estimation. The World Cup soccer tournament (of 2002 and 2006) provided an opportunity to revisit the phenomenon, in a context where wishful thinking and desirability bias are notoriously...

This research illustrates the power of reputation, such as that embodied in brand names, demonstrating that names can enhance objective product efficacy. Study participants facing a glaring light were asked to read printed words as accurately and as quickly as they could, receiving compensation...

This paper examines the added value of expert valuations and their relationship to corporate governance. The analysis is based on a unique sample of 44 closely held public companies that were appraised by financial experts for transactions outside of the Exchange. Each valuation is examined on...

Enterprise Information Technology Systems are major corporate assets upon which corporate operational health is heavily dependent. FASB's Statement No. 86 (SFAS 86) and AICPA's Statement of Position 98-1 (SOP 98-1) are the current accounting standards dealing with how these assets appear on...

This study examines whether and how the passage of the Sarbanes-Oxley Act (SOX) affected earnings quality, proxied by accrual measures, prior to mergers and acquisitions (M&A). Given that the capital markets underwent unusual vicissitudes in the period leading up to the passage of SOX, we...