The accuracy of firm information disclosures and the efficiency of long-term investment both play crucial roles in the … managers confront realistic incentives to misreport financial statements and distort their real investment choices. Managers in … this misreporting through disclosure regulation is possible, it incentivizes managers to distort real investment, which …

This paper investigates whether changes in Generally Accepted Accounting Principles (GAAP) affect corporate investment … decisions. Using a sample containing forty nine changes in GAAP, I find that changes in accounting rules affect investment … decisions. I then examine two mechanisms through which changes in GAAP affect investment. First, I find that changes in GAAP …

We investigate how high-profile accounting frauds affect peer firms' investment. We document that peers react to the … fraudulent reports by increasing investment during fraud periods. We show that this finding is not driven by frauds that have a … higher ex ante likelihood of detection or by an association between fraud and investment booms. In addition, we find that …

This paper examines whether portfolio disclosure requirements for actively managed investment funds affect the … investment decisions of firms owned by the funds. We argue that mandatory portfolio disclosures reduce fund managers’ incentive … investment sensitivity to stock price declines for firms with significant ownership held by actively managed funds affected by …

This paper examines whether portfolio disclosure requirements for actively managed investment funds affect the … investment decisions of firms owned by those funds. We argue that mandatory portfolio disclosures reduce fund managers’ incentive …-in-differences design around the May 2004 SEC regulation requiring more frequent fund disclosure, we find that investment sensitivity to …

investment changes under lower levels of information asymmetry. To identify the treatment effect of the information shock, I …

The prior literature establishes that trust affects investment, however, whether it leads to investment efficiency is … unaddressed. This study seeks to investigate the relationship between societal trust and corporate investment efficiency. The … study documents a positive association between societal trust and corporate investment efficiency. Using data from 30 …