Exploiting the setting of staggered adoption of the Inevitable Disclosure Doctrine (hereafter IDD) in U.S. state courts, we examine how quasi-exogenous restrictions of outside employment opportunities affect CEOs' risk preferences. IDD adoption constrains executives' ability to work for...

We study whether mandatory adoption of International Financial Reporting Standards (IFRS) is associated with changes in the sensitivity of CEO turnover to accounting earnings and how the impact of IFRS adoption varies with country-level institutions and firm-level incentives. We find that CEO...

What informational properties of earnings are demanded by compensation contracting for performance measurement? The answer to this question has important implications for accounting standard setting. While some expect conditional conservatism to be a desirable feature that helps to alleviate...

This paper examines the impact of a firm’s social performance on the CEO’s employment prospects. We find that CEOs are more (less) likely to leave office when there is a significant recent decline (improvement) in social performance. We then track departing CEOs’ subsequent employment...

This paper examines the impact of a firm's social performance on the CEO's employment prospects. We track departing CEOs' subsequent employment records and find that the social performance of their previous employers improves their labor market outcomes. These CEOs are more likely to find a new...

During the past decade, new regulations have been adopted to improve audit committee effectiveness. Prior research has generally provided evidence in support of these regulations and suggests that a more independent and expert audit committee is more effective. We posit that CEO power reduces or...