Building on the evolving literature on the topic, this paper reviews the relationship between demographics and long-run capital flows in both theory and in the data. For this purpose, we develop a two region overlapping generations model where countries differ in their population growth and...

The debate concerning the recent regulation in the United States mandating accounting firms to disclose engagement partners' identity is ongoing. We examine the impact of the Public Company Accounting Oversight Board's (PCAOB) requirement of disclosing engagement partners' names on Form AP on...

By using a pilot license as a proxy for the sensation-seeking personality trait, we examine the relation between sensation-seeking CEOs and trade credit. With a sample of pilot CEOs and non-pilot CEOs from U.S. listed firms from 1993-2016, we find strong evidence that firms led by pilot CEOs are...

This study examines the association between the political corruption of a local government and the readability of firms' annual reports. Based on a sample of 12,742 firm-year observations (for 2,369 unique firms) during the 2006-2014 period and the Gunning Fog Index as the primary measure of...

We examine the relationship between real exchange rate fluctuations and firm-level investment and growth using data for a sample of close to 33,000 firms from 68 advanced and emerging market countries over the 2000-2014 period. We show that real depreciations boost profits, investment, and asset...

Our study examines whether political corruption of a local government at judicial district level influences earnings management activities of firms located in a corrupt area. Prior studies suggest that there is an association between political connections and earnings quality (e.g., Braam et al....

This study examines the effect of real activities manipulation (RAM) on auditors' decision of issuing going concern opinions for financially distressed companies. It draws on the theory that auditors perceive RAM as a potential litigation risk and a signal of client firms using other earnings...

This paper investigates the impact of political corruption on auditor behavior in the United States. We find that U.S. firms headquartered in more corrupt regions pay higher audit fees, have longer audit report lags, and are more likely to receive a going concern audit opinion. Political...

The U.S. labor force participation rate (LFPR) fell dramatically following the Great Recession and has yet to start recovering. A key question is how much of the post-2007 decline is reversible, something which is central to the policy debate. The key finding of this paper is that while around...

We examine the relationship between real exchange rate depreciations and indicators of firm performance using data for a sample of more than 30,000 firms from 66 (advanced and emerging market) countries over the 2000-2011 period. We show that depreciations boost profits, investment, and sales of...