We find a positive relation between ownership by institutions with active strategies and short investment horizons (transient institutions) and the occurrence and magnitude of financial restatements. Even ownership by institutions with enhanced incentives to monitor does not attenuate...

This paper examines how cross-border acquisitions are financed. Acquisitions of U.S. targets by cross-listed bidders are compared against those of U.S. and non-cross-listed bidders. By cross-listing, a foreign firm reduces its cost of paying for acquisitions with equity by enhancing the rights...

This paper examines the effect of CEO compensation contracts on misreporting. We find that the sensitivity of the CEO's option portfolio to stock price is significantly positively related to the propensity to misreport. We do not find that the sensitivity of other components of CEO compensation,...

While theoretical research suggests that many firms should have significant exchange rate exposure, empirical research has documented a low stock price reaction to exchange rate movements. Against this backdrop, this paper examines a sample of U.S. firms that engage in large acquisitions abroad,...

We study the exchange rate exposures of a sample of firms that undertake large acquisitions of foreign companies. Using data from SEC filings on their foreign operations and derivatives usage, we examine how the exposures change from before to after the acquisition. We find that these deals...

We study the exchange rate exposures of a sample of firms that undertake large acquisitions of foreign companies. Using data from SEC filings on their foreign operations and derivatives usage, we examine how the exposures change from before to after the acquisition. We find that these deals...

We study the exchange rate exposures of a sample of firms that undertake large acquisitions of foreign companies. Using data from SEC filings on their foreign operations and derivatives usage, we examine how the exposures change from before to after the acquisition. We find that these deals...

We study the exchange rate exposures of a sample of firms that undertake large acquisitions of foreign companies. Using data from SEC filings on their foreign operations and derivatives usage, we examine how the exposures change from before to after the acquisition. We find that these deals...