Using the extreme returns of firms in unrelated industries of institutional shareholders' portfolios as exogenous variations in institutional investor distraction (Kempf et al., 2017), we find a positive and significant relation between institutional shareholder distraction and stock price crash...

This study investigates whether common institutional blockholders (common owners) affect the accounting comparability of their portfolio firms. We document that accounting comparability between a pair of industry peers increases with common ownership presence and intensity. Common owners’...

We find that a new compensation disclosure item on expected payouts from performance-based stock grants contains incremental information of a firm's future performance. Firms that disclose the most optimistic expected payment significantly outperform over the next two years, while the least...