We examine whether the codification has achieved some of its goals. We find that the codification is associated with a reduction in the incidence of restatements arising from inadvertent noncompliance, and timelier 10-K filings. These benefits are concentrated in small firms audited by a non-Big...

We use the introduction of the Unicorn nomenclature to reference venture-backed firms with valuations in excess of $1 billion to examine how firm categorization influences investor demand and retail trade activity during IPO price formation. We predict and find evidence to suggest that the...