Human resource is now considered to be the asset of the company, as it's the hard work and intellect of the human resource, that a company earns profits. It is a reportable investment that is not presently accounted for under the conventional accounting practice. The monetary unit assumption of...

The mandated increase in segment disaggregation under SFAS 131 could have harmed shareholders by revealing proprietary information or benefited them by reducing agency problems. Using a sample of firms that lobbied against SFAS 131 on the grounds of competitive harm, I examine whether concerns...

We investigate the impact of peer pressure on the characteristics of forward-looking disclosures. We identify plausibly exogenous variation in the amount of peer firm forecast news available when a focal firm issues its own forecast by employing a sample of firms that issue forecasts in...

This study examines the decisions of firms to voluntarily disclose tax fees paid to their external auditors. Although the Securities and Exchange Commission (SEC) began requiring public companies to disclose fees paid to auditors in 2000, separate disclosure of tax service fees as a component of...

Pharmacy benefit managers (PBMs) save Americans billions of dollars each year by lowering the prices of prescription drugs and the costs of prescription drug coverage. However, as I explain in this Article, mandatory disclosure regulations recently enacted in several states and under the...

We study optimal disclosure rules that alleviate inefficiencies caused by managerial private benefits. An entrepreneur raises capital from investors by designing a security and an associated covenant. The covenant allocates the control right of the project to the entrepreneur or investors in the...