We use required 8-K filings around major borrowings to shed light on firms' choices of whether to comply with SEC disclosure rules. We first develop a simple model in which the firm weighs the benefit of obscuring the disclosure of an adverse event, against the cost of failing to comply with a...

I examine whether lender incentives are related to the redaction or non-disclosure of potentially material information from credit agreements of public firms. Using a novel dataset, I find evidence that when lenders invest more in screening and monitoring the borrower or when lenders earn...