We examine whether aggregate cost stickiness predicts future macrolevel unemployment rate. We incorporate aggregate cost stickiness into three different classes of forecasting models studied in prior literature, and demonstrate an improvement in forecasting performance for all three models. For...

This paper details efforts at developing and estimating a Vector Autoregressive (VAR) econometric model representative of the financial statements of a firm. Although the model can be generalized to represent the financial statements of any firm, this work was carried out as a case study, where...

We examine the subsidiary- and group-level determinants of IFRS adoption by unlisted UK firms. Many unlisted firms are part of large conglomerate groups. For these firms, decisions about reporting practices are expected to be made at the group-level. Consistent with this hypothesis, we find that...

The correction and disclosure prominence of misstatements identified in previously audited financial statements depends largely on preparers' and auditors' materiality judgments. Despite being tasked with independent attestation, we posit that auditors' incentives to avoid reputational and legal...