Using hand-collected carbon emissions data for 2006 to 2008 voluntarily disclosed to the Carbon Disclosure Project by S&P 500 firms, we examine the effects on firm value of carbon emissions and of the act of voluntarily disclosing carbon emissions. Correcting for self-selection bias from...

Using hand-collected carbon emissions data for 2006-2008 that S&P 500 firms disclosed voluntarily to the Carbon Disclosure Project, we investigate the relationship between carbon emission levels and firm value. The study is motivated by a relationship between carbon emissions and global climate...

Auditing standards now mandate that group auditors determine and implement appropriate component materiality amounts, which ultimately affect group audit scope, reliability, and value. However, standards are silent about how these amounts should be determined and methods being used in practice...

To what degree are audit fees for U.S. firms with publicly traded equity higher than fees for otherwise similar firms with private equity? The answer is potentially important for evaluating regulatory regime design efficiency and for understanding audit demand and production economics. For U.S....

In the decade since the July, 2002 passage of the quickly-legislated Sarbanes-Oxley Act, audit production in the U.S. has been substantially augmented by implementation of mandated internal control process audits. Audit production changes are important as the control audit mandate is unique and...

We use incremental and joint implementation of multiple SOX-based control effectiveness disclosure and audit mandates to assess relative performance of alternatives for small U.S. public companies. Using data from several low and high effort management disclosure and audit regimes implemented...

This paper shows that large efficiency gains in estimating portfolio betas can be achieved by using time-stratified estimates which explicitly incorporate seasonality in stock returns. Several types of estimates are examined: combined, separate, two strata and twelve strata. Not only do these...

The Sarbanes-Oxley Act (SOX) mandates management evaluation and independent audits of internal control effectiveness. The mandate is costly to firms but may yield benefits through lower information risk that translates into lower cost of equity. We use unaudited pre-SOX 404 disclosures and SOX...

Conceptually, customer relationship value depends on customer perceptions of the cost of switching to another supplier. Empirical tests of switching cost effects have been hampered because traditional performance measurement systems and customer satisfaction scores do not reflect switching cost...