The Dodd-Frank Act allows the SEC to choose either an internal administrative proceeding or a federal district court as an enforcement venue for resolving violations of federal securities laws. I first document that the SEC increased the use of administrative proceedings after Dodd-Frank. I next...

We examine the real effects of mandatory-social-responsibility disclosures, which require SEC-registered mine owners to include their mine-safety records in their financial reports. These safety records are already publicly available elsewhere, which allows us to isolate and estimate the...

Firm life-cycle stage reflects a firm's current strategic direction towards exploration independent of age or size. We provide evidence that young life-cycle firms are particularly vulnerable to negative innovation consequences from financial regulation but do not appear to experience any...

This paper studies the impact of public audit oversight on financial reporting credibility. We analyze changes in market responses to earnings news after public audit oversight is introduced, exploiting that the regime onset depends on fiscal-year ends, auditors, and the roll-out of auditor...

This article comments on the Accounting and Auditing Law of the Republic of Georgia.The Georgian law “On Accounting and Auditing of Financial Reporting” was signed into law in 2012. Some of its provisions became effective immediately, while others became effective in January 1, 2013. The law...

All organizations, including charities, are vulnerable to the risk of losses due to fraud. Using a sample of 562 nonprofit organizations that report an asset diversion between 2008 and 2011, we examine whether fraud disclosures are relevant to donors' giving decisions. We find, all else equal,...

We examine the audit pricing consequences of auditor inspections under the public oversight regime in the EU. Employing a staggered difference-in-differences design, we document an inspections audit fee premium during the post-inspection period when companies’ auditors are inspected by the...

The Securities and Exchange Commission encourages the presentation of information or data in graphical form to improve users’ ability to understand financial disclosures. We observe a dramatic increase in the disclosure of both qualitative and quantitative infographics in 10-Ks from 2003-2020....

Extant literature suggests that audit firms establish political connections at the national level to lobby regulators and legislators. In this paper we construct a novel dataset of Big 4 auditors’ political connections at the audit office level and examine the implications of auditors’...

We examine the effects of enforcement inspection focus disclosure on financial reporting quality. We find that enforcement focus disclosure can either enhance or deteriorate the financial reporting quality. Further, we highlight conditions under which the disclosure of enforcement inspection...