Recent corporate scandals and subsequent regulatory actions have heightened both the academic communities and the public's interest in corporate governance issues. Academics have long argued that voting rights constitute a critical component of a system of corporate governance. We provide...

Recent corporate scandals and subsequent regulatory actions have heightened both the academic communities and the public's interest in corporate governance issues. Academics have long argued that voting rights constitute a critical component of a system of corporate governance. We provide...

Drawing on financial reporting, institutional, and social psychology theories, we consider whether awareness of SEC scrutiny affects the extent to which managers exercise financial reporting discretion. Because there is a higher probability that the SEC will detect misconduct and impose...

Little is known about why CEOs voluntarily purchase shares of their firm other than because they expect to directly profit from doing so. However, since CEOs are risk-averse, highly un-diversified, and face litigation costs from trading on favorable private information, direct profits are...

We examine how shocks to perceived accounting quality lead to market prices that reflect an increased weight on prior disclosures of insider trading. We use a sample of firms where industry peers have restated financial information and find that the short-term market reaction to announcements of...