We compare the quality of accounting numbers produced by two types of public firms - those with publicly-traded equity and those with privately-held equity that are nonetheless considered public by virtue of having publicly-traded debt. We develop and test two hypotheses. The quot;demandquot;...

A number of studies have examined the change over time in the information content of accounting numbers to stockholders. However, the stockholders' perspective is not necessarily identical to that of debt holders. The two groups face different risks and rewards and thus their informational needs...

A number of studies have examined the change over time in the information content of accounting numbers to stockholders. However, the stockholders' perspective is not necessarily identical to that of debt holders. The two groups face different risks and rewards, and thus their informational...

Risk Management Research Report (RMRR) surveys and screens the flow of academic articles on risk management and presents extended scholarly summaries of today's most important scholarly work in a convenient format on a timely basis. Each issue features approximately 15 of the most important...

Past research shows that the outcomes of acquisitions of private firms are better than those of public firms. This finding is commonly explained by the price discount due to illiquidity and the higher information risk involved in acquiring private firms. Existing studies do not separate the two...