Although recent academic studies on nonprofits have documented aggressive accounting behavior, these studies have primarily examined the sector in isolation and have not reached definitive conclusions regarding the relative aggressiveness of the nonprofit and for-profit sectors. Using actuarial...

Our research examines the importance and influence of meeting or beating analysts' cash flow forecasts on a firm's cost of debt. We examine three important metrics related to a firm's cost of debt: initial bond rating, bond yield, and subsequent changes in bond ratings. Our results indicate...