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...

We provide some initial descriptive and exploratory results concerning the earnings-returns relation in periods of poor versus strong macroeconomic performance. Based on data from three countries – Australia, the U.S., and China – our results indicate some differences for U.S. and Chinese...

We examine whether income tax disclosures under International Financial Reporting Standards (IFRS) are useful for predicting changes in future earnings and cash flows, and whether such disclosures are more or less useful than disclosures made under U.S. Generally Accepted Accounting Principles...

This study adopts an internet-based experiment to investigate whether and how individual donors use nonprofit organizations' financial and nonfinancial information when making their donation decisions. Using undergraduate students in the United States (U.S.) to proxy for individual donors, our...

While Italy's catch-up in the course of the 20th century has been nothing short of extraordinary, it has failed to produce a large number of global business players. Nonetheless, half a century ago an Italian company concluded what was at the time the largest-ever foreign takeover of a US...

This paper examines mandatory occupational licensure in several professions from barbers, cosmetologists, radiologic technicians, CPAs, mid-level healthcare providers, and physicians. Mandatory licensure is cited as a mechanism for serving the public interest by assuring professionals possess...

This study examines the relationship between institutional pressures to provide social benefits and the discretionary accrual behavior of nonprofit firms. I examine this issue within the context of US nonprofit hospitals, an economically significant and politically rich setting where firms face...

This study examines when and how tax reform impacts the pricing of IPOs. Using the Tax Cuts and Jobs Act of 2017 (TCJA), we examine IPO pricing during the periods of anticipated and post-tax reform. First, we document that firms completing an IPO following the passage of the TCJA experience an...

The ethics of tax evasion has been discussed sporadically in the theological and philosophical literature for at least 500 years. Martin Crowe wrote a doctoral thesis that reviewed much of that literature in 1944. The debate revolved around about 15 issues. Over the centuries, three main views...

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...