We examine the relationship between analyst research and corporate earnings announcements to explore the relative importance of information discovery versus interpretation of previously released information. Using equity market reaction to capture information content, we find that information...

This study examines the influence of institutional dual-holders, whose portfolios hold both loans and equity securities of the same firms, on those firms’ disclosures. Using mergers between institutional shareholders and lenders to the same firms as exogenous shocks to identify firms with...

In this paper, we examine the effect of managers' pay duration on firms' voluntary disclosures. Pay duration refers to the average period that it takes for managers' annual compensation to vest. We hypothesize and find that pay duration can incentivize managers to provide more bad news earnings...