Artiga González, Tanja; Schmid, Markus; Yermack, David - School of Finance, Universität St. Gallen - 2013
We study financial reporting and corporate governance in 216 U.S. companies accused of price fixing by antitrust authorities. We document a range of strategies used by these firms when reporting financial results, including frequent earnings smoothing, segment reclassification, and restatements....