We investigate how managers smooth volatility in balance sheets, using the pension accounting change IAS 19R as a shock to balance sheet volatility. This shock increases pension plans’ funding transparency, which is the source of volatility, without targeting actual plan funding. We find that...

We study whether contracting with the government, that forms political connections with its suppliers, shapes firms' financial reporting quality. We document that government suppliers exhibit higher-quality financial reporting than firms without government contracts. This finding is partly...