At present, accounting textbooks miss a quick calculation of the present value of an annuity with variable payments. The current approach is to calculate the present value of each payment separately. In this paper, we present different ways to calculate the present value of such an annuity when...

In principle, innovation and financial disclosure have little in common. Yet, previous studies have documented a positive association between financial disclosure quality and innovation. I shed light on this puzzle, by pointing to the fact that high quality disclosure fosters investors' trust,...

This study examines the relation between auditors and the unaudited Management Discussion and Analysis (MD&A). We show that MD&As are more textually similar when firms share the same auditor. This result suggests that auditors influence MD&As to be more textually similar merely by reviewing the...

Auditors' propensity to issue Going Concern Audit Reports (GCARs) is one of the proxies often used for audit quality. Although this propensity is a distinguishing characteristic of auditors, it does not indicate quality according to both theory and practice. In theory, higher-quality auditors...

Most 10-K filings include non-informative innovation-related words. This study finds that Textual Emphasis on Innovation (TEI) is consistent with an impression strategy that the firm intends to focus on the long term, and this impression is trustworthy. TEI is positively associated with a...