In recent years, several laws and regulations have set new requirements for the financial literacy and expertise of members of audit committees. ln 1999, the New York Stock Exchange (NYSE) added a rule requiring that each company have an audit committee comprising independent directors who are...

This study explores the puzzle of CEO severance agreements by examining the association between the existence of ex ante severance agreements and the timeliness of bad news disclosures. Classifying severance agreements by type and by the way boards granting them, this paper documents a positive...

This paper identifies a helpful red flag stakeholders can use to detect whether a nonprofit has potentially managed its financial information. This red flag is reporting an identical program ratio – that is, the NPO reports the exact same ratio in multiple years – while reporting a large...