We develop a Compustat-based financial reporting uniformity measure based on the presentation of common financial statement line items. We define uniformity as the average ratio of a firm's pairwise overlaps of non-missing Compustat data items with peer firms. Emphasizing the conceptual...

Standalone corporate social responsibility (CSR) reports vary considerably in the content of information released due to their voluntary nature. In this study, we develop a disclosure score based on the tone, readability, length, and the numerical and horizon content of CSR report narratives,...

This paper examines the effect of accounting quality on the inclusion of a specific debt contract feature, the borrowing base restriction, which limits the borrower's access to the credit line by the amount of its working capital assets. The quality of the working capital, in turn, becomes...

This paper examines the relation between state contract law and the use of accounting information in debt contracts. Contract theory suggests that balance sheet-based covenants resolve debtholder-shareholder conflicts ex ante, whereas income statement-based covenants serve as trip-wires that...

Prior evidence shows a reduction in leverage after covenant violations, but we do not know whether covenants affect leverage before they are violated. In this study, we use an exogenous accounting-based shock to debt covenants that relaxed covenant tightness (SFAS 160) and examine whether...