To what degree are audit fees for U.S. firms with publicly traded equity higher than fees for otherwise similar firms with private equity? The answer is potentially important for evaluating regulatory regime design efficiency and for understanding audit demand and production economics. For U.S....

To what degree are audit fees for U.S. firms with publicly traded equity higher than fees for otherwise similar firms with private equity? The answer is potentially important for evaluating regulatory regime design efficiency and for understanding audit demand and production economics. For U.S....

We examine the prevalence, determinants, and consequences of cheap stock. “Cheap stock” refers to equity-based compensation valued at less than fair value. Cheap stock grants have drawn regulators’ attention, with the SEC frequently commenting on issues related to cheap stock when...