Combining corporate sustainability performance scores based on environmental, social and governance (ESG) data with big data measuring public sentiment about a company's sustainability performance, I find that the valuation premium paid for companies with strong sustainability performance has...

We investigate the consequences of the “revolving door” for trial lawyers at the SEC’s enforcement division. If future job opportunities motivate SEC lawyers to develop and/or showcase their enforcement expertise, then the revolving door phenomenon will promote more aggressive regulatory...

This study examines how key market participants — managers and analysts — responded to SFAS 123R's controversial requirement that firms recognize stock-based compensation expense. Despite mandated recognition of the expense, some firms' managers exclude it from pro forma earnings and some...

At a time when distrust of corporate management is at an all-time high and the media are increasing their focus on corporate governance, Standard amp; Poor's has published a study that examines the transparency and disclosure (Tamp;D) practices of major public companies around the globe. This...

Large accounting firms offshore a significant amount of tax work to professionals in India. Prior research suggests that individuals can have negative implicit attitudes toward people from different nationalities and that negative implicit attitudes can have undesired consequences. In this...

Purpose: This paper aims to examine whether commercial banks manage earnings through their use of Level 3 valuation under The Statement of Financial Accounting Standards No. 157 (FAS 157), Fair Value Measurements. To achieve this goal, we investigate the association between banks' performance...

Ten years after the Securities and Exchange Commission mandated the conversion of corporate financial statements to machine-readable formats, there is still no analogous mandate for state and local government Comprehensive Annual Financial Reports (CAFRs). We explore the challenges and benefits...

This paper examines the hospital management practices of manipulating financial earnings within the bounds of generally accepted accounting principles (GAAP). We conduct regression analyses that relate earnings management to hospital characteristics to assess the economic determinants of...

The seeds for the 2007-09 financial collapse were sewn over many years and nurtured by ill-advised governmental housing policy, the presence of pervasive fraud both large and small and the widespread failure of personal integrity. A chronology of bad choices made by individuals and the...

In a large sample of US private foundations, we examine the association between CEO compensation and an accounting-based measure of performance, administrative efficiency. We document a positive pay-performance association across time within foundations, but a negative association across...