We examine whether accounting quality is associated with efficient investments in labor. Consistent with high quality accounting mitigating market frictions that lead to sub-optimal levels of investment, we find evidence that abnormal net hiring (measured as the absolute deviation from net...

The distributions of Real Estate Investment Trusts (REITs) are comprised of components that differ in how they are taxed to the recipient shareholders. This variation in tax characteristics enables us to study the effect of shareholder taxes on stock prices around ex-dividend days, while...

We examine the role of financial reporting quality in facilitating corporate employment. Labor creates operating leverage due to wage rigidity and lacks collateral value, both of which increase credit risk and the importance of information in debt markets. We use firms' predetermined debt...

We study the effects of regulating the timing of disclosure on the quality of accounting information, using a 2003 U.S. regulatory change that accelerates 10-K filing deadlines as a research setting. Employing a difference-in-differences design, we find that the likelihood of issuing financial...

In this era of "robo-signers," asset-backed securities and unprecedented foreclosures, the mechanics of collecting on a promissory note accompanying a mortgage or deed of trust are often forgotten or not followed for a number of reasons such as: the sheer volume of paperwork accompanying every...

Whether audit firm tenure affects audit quality is a question of longstanding regulatory and scholarly interest. While this question centers on how audit quality changes over time within client-audit firm relationships (longitudinal variation), prior studies tend to instead compare audit quality...