The Securities and Exchange Commission has become increasingly concerned with the rising number of restatements to statements of cash flows (SCFs). Regulators and practitioners are generally more focused on the overstatement of operating cash flows, while the understatement of operating cash...

This paper examines the relation between voluntary disclosure of financial statement line items accompanying, and insider trading around, quarterly earnings announcements. We find that investors' reaction to positive earnings news is temporarily heightened by financial statement line items...