In modern economies, technological knowledge can flow between firms through various channels. We test an economic theory that firms most likely to benefit from such knowledge flows disclose information about their technologies more readily, probably to attract technologically compatible...

We examine the effect of Big 4 auditors on management's use of optimistic language in audited financial statement disclosures. While regulators and practitioners consider the audit of disclosures to be increasingly important, empirical evidence of an auditor's effect on management's qualitative...