We investigate the potential uncertainty-reducing role of accounting information in the context of contingent Superfund liability valuation. We first develop theoretical arguments for the way reduction of uncertainty regarding these contingent liabilities is expected to affect security prices....

Management quality is known to influence depository institution performance, but less understood are the characteristics of managers that influence performance. We empirically examine how the political ideology of a credit union’s CEO influenced decision making and performance during the...

We examine how monitoring reduces incentives of companies to bias reported internal rates of return in CDM projects. These estimates serve as a criterion for admission into a United Nations program that grants tradable carbon emissions permits for carbon-reducing projects in developing...

A significant portion of CEOs in publicly-listed Chinese state-owned enterprises receive zero pay from the companies for which they work. Instead, they are paid directly by their controlling shareholder, which can be the Chinese government or parent firms that are controlled by the Chinese...

We explore usefulness of a measure based on 10-K disclosures of firm-specific climate risk exposure. We find that our measure is negatively associated with firm value and positively associated with implied cost of capital and beta. Climate risk disclosure tone is significantly associated with...

While it is widely acknowledged that companies face increasing cybersecurity risk stemming from hackers stealing customer information, a relatively unknown cybersecurity risk is from information leakage and subsequent trading by digital insiders – hackers who target corporations to obtain...

Climate risk disclosures originated as part of more general sustainability disclosure frameworks but now plays a prominent role in the evolution of mandated sustainability disclosures. This chapter explores the evolution of climate risk disclosure guidance and how it increasingly reflects the...

We provide the first direct analysis of the magnitude of unreliable quantitative information disclosed in corporate social responsibility (CSR) reports. CSR report reliability is of particular interest to fund managers for investment decisions as well as to policymakers for regulating and...