Multinational firms have been accused by politicians, regulators, and citizen groups of shifting profits to low-tax geographic areas. We present evidence that multinational firms with tax-haven operations tend to aggregate their geographic disclosures to a greater extent. The results are...

Motivated by a growing interest in the governance role of large shareholders with diversified equity portfolios, we examine the effect of diversified large shareholders on voluntary corporate disclosures. With substantial equity stakes, large shareholders generally have more access to private...

This study investigates whether auditors use information in accounting estimates when making going concern assessments and whether the usefulness of information in accounting estimates to auditors depends on whether the estimate is prepared following a rule-based standard or a principle-based...

Multinational firms have been accused by politicians, regulators, and citizen groups of shifting profits to low-tax geographic areas. We present evidence that multinational firms with tax-haven operations tend to aggregate their geographic disclosures to a greater extent. The results are...

We investigate whether variation in the volatility of tax outcomes across firms is associated with the extent of financial constraints. We document a positive association between current-period financial constraints and the volatility of cash effective tax rates in subsequent periods. We find...

Extant literature documents a positive association between ex ante severance pay and timeliness of bad news disclosure, suggesting that the provision of severance pay is consistent with efficient contracting. Relying on an empirically unexplored theory, we investigate whether and how managerial...

Although large shareholders have sufficient influence to engage privately with management, extant literature provides inconclusive evidence on the relation between large equity positions and corporate disclosure. This study examines whether large shareholders’ portfolio diversification affects...

We examine a topic of concern to antitrust regulators – anticompetitive behavior facilitated by joint conference participation with peers. Conferences, which are often organized by trade associations and investors, present opportunities for product market peers to repeatedly interact and may...