We exploit the staggered introduction of the Public Company Accounting Oversight Board's (PCAOB) international inspection program to examine the role that exogenous shocks to the stringency of public audit oversight plays in shaping U.S. institutional investors' home bias. Analyzing a sample of...

We examine how state liability regimes within the United States affect auditor reporting decisions. We exploit variation across state-level common law in two aspects of auditor liability: the extent to which auditors can be held liable by third parties for negligence, and rules for apportioning...

We exploit the staggered introduction of the PCAOB’s international inspection program to examine the role that the stringency of public audit oversight plays in shaping US institutional investors’ home bias. Analyzing a sample of foreign firms listed in the United States, we evaluate whether...