This paper examines whether and how U.S. analysts contribute to an improvement in the home market information environment of foreign firms cross-listed in the United States. Comparing return and trading volume reactions to U.S. analyst recommendation revisions to local analysts' for cross-listed...

This study consolidates the existing body of knowledge on the theory and empirical evidence of shareholder value effects of social responsibility and the returns to socially responsible investing. In doing so, it draws from the literature in accounting, economics, finance, law and management...

Using survey data from a sample of senior investment professionals from mainstream (i.e. not SRI funds) investment organizations we provide insights into why and how investors use reported environmental, social and governance (ESG) information. Relevance to investment performance is the most...

The paper investigates the post-takeover operating performance of a sample of the 50 largest mergers announced on the New York Stock Exchange in the years 1998-2001. It is argued that the commonly used operating cash flow measures in the recent merger literature suffer from various accounting...

This paper examines the textual characteristics of firms' 10-K filings over a 20 year time period. We find that investors' reaction to textual characteristics of the MD&A in 10-Ks is much stronger and more timely than their reaction to textual characteristics of the notes to the financial...

In this paper, we review the existing evidence on the role of fair value accounting in transforming what started as a liquidity shock at the beginning of the Financial Crisis of 2007-08 into a solvency crisis and ultimately systemic bank failures. The paper discusses the academic evidence on the...

The paper analyzes the earnings forecasts issued by bidders' executives in the biggest deals announced on the New York Stock Exchange in the years 1998-2001. It explores the role of the forecasts as an information source for investors at the time of the bid announcement. We investigate the...

This paper examines the value relevance of goodwill impairment and the information content of impairment announcements with the introduction of Financial Reporting Standard (FRS) 11 in the UK in 1998 which allowed an annual impairment review as an alternative to capitalisation and subsequent...

This study uses advanced natural language processing methods to identify companies that are aligned with the UN SDGs based on the text in their sustainability disclosures. Using CSR reports of Russel 1000 companies between 2010-2019 we apply a logistic classifier, support vector machines (SVM)...