Using Korean listed firms’ mandatory disclosure of the communication method for meetings between the audit committee and auditors from 2019 to 2020, we find that videoconferencing leads to lower audit quality. We find that neither the independence nor the expertise of the audit committee...

We build on prior literature on the role of demand uncertainty in cost structures and examine whether and how firm cost structures are affected by climate-related issues. Using a measure of firm-level exposure to climate change identified from earnings conference calls, we find that climate...

We study manufacturing firms’ asymmetric inventory investment in response to sales changes. Focusing on the costs of resource adjustment and stockout which likely differ in sales-increasing and sales-decreasing periods, we predict and find that inventory investment declines less during periods...