This study investigates the association between the accuracy of revenue forecasts and the accounting activities of budget preparation and internal accounting report preparation. While both budgets and internal reports are widely used, empirical evidence concerning their influence on the...

This study investigates the determinants of the initial retention of external accountants by new U.S. start-ups. We test several arguments related to agency and credibility needs, financial activity and complexity, and accounting support and advice. Consistent with financial activity and...

We investigate the determinants of hedge fund internal controls and their association with the fees that funds charge investors. Hedge funds are subject to minimal regulation. Hence, hedge fund managers voluntarily implement internal controls, and managers and investors freely contract on fees....

This research examines the rationality of the expectations of nascent entrepreneurs. Consistent with conjectures regarding entry into self-employment, I find substantial over-optimism in nascent entrepreneurs' expectations in that they overestimate the probability that their nascent activity...

This study investigates the association between the accuracy of revenue forecasts and the accounting activities of budget preparation and internal accounting report preparation. While both budgets and internal reports are widely used, empirical evidence concerning their influence on the...

Using a dataset of 3,234 letters sent by 434 hedge funds to their investors during 1995-2011, we study what motivates hedge fund managers to make voluntary disclosures. Contrary to the hedge fund industry's reputation for opacity, we observe that managers provide their investors with an array of...

We examine whether more sophisticated accounting methods (in the form of accrual accounting) interact with other information sources to reduce information asymmetries between small business borrowers and lenders, thereby lowering borrowers' probability of loan denial and cost of debt. We find...