This paper examines the market reaction to the public announcement of going-concern (GC) opinions through the news media. In the early 2000s, NASDAQ and AMEX required firms listed on their exchanges to announce publicly previously disclosed information, such as the issuance of a GC opinion,...

Prior studies document a positive relation between stock prices and tax-related contingent liability, unrecognized tax benefits (UTBs), and interpret the finding as evidence that investors reward tax aggressiveness. The purpose of this paper is to explore the nature of this puzzling finding by...

We examine whether cross-firm comparability of earnings and operating cash flows influence the usefulness of earnings and cash flows in CEO compensation. We find that earnings (cash flow) comparability is positively associated with the compensation weight of earnings (cash flow) and negatively...