In this study we investigate whether the characteristics of clients, auditors, and the auditor-client relationship simultaneously determine audit and non-audit fees. As done in prior studies, we maintain that fees proxy for the level of service provided and follow the physical flow of knowledge....

We examine the long-run equilibrium relation between the net flow of funds into equity mutual funds and the S&P 500 index. Applying the Engle and Granger error correction methodology followed by a state space procedure, we find that the levels of the stock market are influenced by the net flow...

In this study we examine the oversight responsibilities of audit committees in the post Sarbanes-Oxley Act of 2002 (SOX) era. The results show that audit committee oversight responsibilities assigned and disclosed in proxy statements expanded post-SOX compared to pre-SOX. We design a survey...

In this study we examine the oversight responsibilities of audit committees in the post Sarbanes-Oxley Act of 2002 (SOX) era. The results show that audit committee oversight responsibilities assigned and disclosed in proxy statements expanded post-SOX compared to pre-SOX. We design a survey...

This paper examines whether the characteristics of banks and borrowers are associated with banks' decisions to waive violations of debt covenants. The findings suggest that banks possess sufficient private information about firms, and they use this information in their waiver decisions. Banks'...

Purpose – The purpose of this paper is to examine the relative and incremental information content of a cash recovery-based measure of performance, the estimated internal rate of return, vs an earnings-based measure of performance, return on assets, in explaining firms' economic performance....