I examine the effects of fair value reporting of derivatives, in accordance with SFAS No. 133, on corporate risk management policies and firm value. Prior studies predict that effective risk management through derivatives use reduces demand for liquidity (cash, credit lines) and increases debt...

Two contrasting explanations are offered in the literature for the R&D-to-market anomaly: mispricing of R&D resulting from limited investor attention to R&D spending, and the failure of conventional risk factors to completely capture the risk associated with R&D. Exploiting accounting treatments...

Using a unique institutional feature of the South Korean initial public offerings (IPO) market, in which firms can opt to list on a pre-IPO market (pre-market), we investigate the effect of pre-market trading on IPO performance. We find that firms that were involved in pre-markets are less...