Proponents of International Financial Reporting Standards (IFRS) claimed that the adoption of IFRS would lead to more efficient capital allocation through greater cross-border investment. This study examines whether the adoption of IFRS is associated with an increase in the level of investment...

In the face of political pressure in 2009, the FASB relaxed fair value rules to give managers more discretion in measurement of fair value. Supporters argued that the accounting regulatory change would help convey managers' private information on the measurement of fair values, while critics of...

We report the results of an experiment designed to examine investment project selection under promotion incentives, modeled as tournament contracts. For a given expected return, the owner prefers investments with lower systematic risk. Therefore, to the extent managers select investments other...

We consider the influence of Ball and Brown (1968) using citation and visualisation techniques. Prior studies have largely used direct citations to Ball and Brown (1968) to measure the impact of this seminal research. We argue that direct citations greatly under-estimate the impact of seminal...

Analysts have been found to underweight the innovation in most recent quarter earnings when forecasting next quarter earnings, and these expectations have been posited as an explanation for post-earnings announcement drift. This study uses an experimental asset market to examine whether similar...