We provide new evidence on the co-dependence among the many country attributes previously linked to financial reporting quality. First, we show that the synchronicity of 21 changing country attributes spikes surrounding mandatory IFRS adoption. Thus, while IFRS adoption “explains” increased...

We examine whether investors’ commitment to socially responsible investment principles influences the public disclosure of environmental, social, and governance (ESG) issues of their investee firms. We find that following institutional investors’ public commitment to the United Nations...

We provide evidence that the resolution of financial distress through bankruptcy has implications for the subsequent covenant design of loan contracts. We document that lenders prefer performance covenants and put less weight on capital covenants in loans agreed in the year after the firm’s...

We examine how similarity in institutional, legal, and social characteristics between a firm's and its directors’ home countries, that is, country-pair homophily, affects foreign director appointments. We estimate a gravity model that includes economic and geographic proximity and find that...

In this paper, we investigate how firm reporting incentives and institutional factors affect accounting quality in firms from 26 countries. We exploit a unique multicountry setting where firms are required to comply with the same set of international reporting standards. We develop an approach...