In this paper we use a unique dataset to investigate the relationship between nonprofessional investors' information choices and their portfolio returns. We also investigate the role investing experience plays in this relationship. We find that nonprofessional investors earn lower returns as...

We gather data from 77 current mid-level managers and 111 future entry-level managers, to investigate how they value stock options and restricted stock. We refer to our current and future manager groups collectively as quot;managers.quot; We supplement our manager data with a dozen field...

In this paper we investigate the relationship between non-professional investors' information choices and their portfolio returns. We also investigate the role investing experience plays in this relationship. We find that non-professional investors earn lower returns as their use of unfiltered...

This paper provides evidence that hyperlinking a firm's audited financial statements to unaudited information in a Web-based environment facilitates a blending of the unaudited information into the audited report. I obtain evidence of this blending effect using an experiment where investors...

We examine if investor expectations of two common disclosure mediums (conference calls and Twitter) interact with a CEO's communication style to influence investor judgments. Consistent with theory, results show that when the disclosure medium is a conference call, investors are less willing to...

We examine how CEOs can facilitate the development of investor trust that helps mitigate the effects of negative information. Results from an experiment show that investors trust the CEO more and are more willing to invest in the firm when the CEO communicates firm news followed by a negative...

We examine how CEOs can facilitate the development of investor trust that helps mitigate the effects of negative information. Results from an experiment show that investors trust the CEO more and are more willing to invest in the firm when the CEO communicates firm news followed by a negative...

In order to reduce costs, audit firms have begun transferring audit tasks to offshore locations in countries such as India. Consequently, new audit associates no longer perform these tasks. They are, however, asked to review them. If gaining experience completing audit tasks is an important...

We examine the effect of humanizing (naming) robo-advisors on investor judgments. In our first experiment, we find that investors are more likely to rely on the investment recommendation of an unnamed robo-advisor, whereas they are more likely to rely on the investment recommendation of a named...

We examine how shareholders' trust in managers is affected by (1) the outcome of earnings management (inconsistent vs. consistent with shareholders' interests) and (2) the method of earnings management (accruals vs. real methods). Using a controlled experiment, we predict and find that trust is...