We study the effect of supplier firms’ atomistic ownership structure on trade credit provision. We find that atomistic-shareholder (AS) firms, which are characterized by the absence of a controlling family shareholder, provide more trade credit than matched firms controlled by founding...

We examine whether stress tests distort banks' risk‐taking decisions. We study a model in which a regulator may choose to rescue banks in the event of concurrent bank failures. Our analysis reveals a novel coordination role of stress tests. Disclosure of stress‐test results informs banks of...

We examine whether stress tests distort banks' risk-taking decisions. We study a model in which a regulator may choose to rescue banks in the event of concurrent bank failures. Our analysis reveals a novel coordination role of stress tests. Disclosure of stress-test results informs banks of the...

We exploit the Fukushima nuclear disaster as a source of variation in the demand for environmental information to study the economic consequences of environmental disclosure. Using a large, hand-collected sample of Japanese firms, we find that firms that issue stand-alone environmental reports...

Politicians frequently intervene in the regulation of financial accounting. Evidence from the accounting literature shows that regulatory capture by special interests helps explain these interventions. However, many accounting rules have broad economic or social consequences, such as their...

Politicians frequently intervene in the regulation of financial accounting. Evidence from the accounting literature shows that regulatory capture by special interests helps explain these interventions. However, many accounting rules have broad economic or social consequences, such as their...

This paper analyzes the relationship between complexity in cost structure (Jennings et al., 2013) and stock price volatility concerning Italian Listed Companies to determine over the period of crisis whether firm complexity is associated with risk. Using data collected for 153 available Italian...

Perioada de recesiune economica este un adevarat moment de revizuire cu maxima responsabilitate a activitatii entitatii economice, de cercetarea si de gasire a oprtunitatilori de diminuare a efectelor factorilor care perturba activitatea. Analiza minutioasa a datelor reflectate in contabilitate...

This paper examines the effect of financial reporting frequency on cost management decisions during the COVID-19 outbreak in the first half of 2020, when firms had to make broad changes to their cost structures. Using the European setting, we find that quarterly reporters exhibit greater cost...

This study investigates whether conference calls accompanying M&A announcements in Europe provide valuable information for capital market participants and hence induce an abnormal stock price revaluation on the bidder's equity. Based on handpicked data for transactions between 2008 and 2012 we...