We explore a new accounting-based valuation model in an international context. An appealing feature of the model is that it produces a measure of firms' fundamental value, quot;Vquot;, that is immune to accounting differences across countries. We explain why this model has the potential to...

We study whether the sealing of a defendant's judicial records during a patent lawsuit filing correlates with the defendant's level of competition and disclosure. Courts permit sealing of judicial records when competitive damage outweighs the public interest in access to documents and records....

This monograph is not a review of the empirical accounting literature. This monograph tells a story and relates it to salient empirical phenomena. Why does accounting exist? Our answer is that financial accounting helps firms function efficiently. That efficiency is manifested in many ways, and...

We examine the effects of adverse selection and agency costs on the structure of the consideration offered in an acquisition. Specifically we investigate factors affecting the benefits arising from use of earnouts. We find that when targets have greater private information, consideration is more...

We examine the effects of adverse selection and agency costs on the structure of the consideration offered in an acquisition. Specifically, we investigate factors affecting the benefits arising from use of earnouts. We find that when targets have greater private information, consideration is...

We examine the effects of moral hazard and adverse selection on the structure of the consideration offered in an acquisition. Specifically, we investigate factors affecting the occurrence of earnouts, finding that when targets have greater private information, consideration is more likely to be...

We examine whether support vector regressions (SVR), supervised LDA (sLDA), random forest regression trees (RF), and ‘tone' extract narrative content from conference calls that correlates with useful information that a human reader would identify. We find that each narrative-content measure...

We view audit‐quality choice as one among many that managers make to maximize firm value. We question whether audit‐quality differences among publicly traded companies are of significant interest to investors, clients, and auditors and ask for research on this topic. Relatedly, we ask for...