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As of January 1, 2013, most of the world financial market economies are using International Reporting Standards (IFRS) as the required framework for financial statements. A non-comprehensive listing includes the European Union Countries, Canada, Australia, Japan and New Zealand. In the United...
Persistent link: https://www.econbiz.de/10013003463
Although firms are encouraged by the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) to conduct internal investigations following financial misconduct, prior research finds few benefits for investigating firms. This study examines a novel aspect of internal...
Persistent link: https://www.econbiz.de/10013297972
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Examining the effect of beauty on labor market outcomes has become a growing field of labor economics. In fact, the way the labor market rewards physical attractiveness has become an important underlying determinant of wage discrimination, as well as the gender wage gap. In this article, we...
Persistent link: https://www.econbiz.de/10013021748
This study examines changes in SEC enforcement and firm cooperation after the SEC introduced its new cooperation program in 2010. While previous research shows that the SEC penalized cooperative firms prior to 2010, our results suggest that after that year, it rewarded cooperation, especially...
Persistent link: https://www.econbiz.de/10012824198
Using unique data that track the Federal Reserve's direct access of SEC filings, we provide evidence that accounting disclosures are associated with the Fed's economic forecasts and, by extension, its monetary policy. We find that the Fed's access of SEC filings reflects economic trends as well...
Persistent link: https://www.econbiz.de/10012899300
This study examines the unintended effects of a pre-Reg FD practice that gave a broad group of sophisticated market participants 15-minute earlier access to all corporate press releases than the general public. We find that this priority dissemination practice contributed to 22 percent of the...
Persistent link: https://www.econbiz.de/10009316163
We examine the role of newswires in identifying and conveying market-moving information in periodic SEC reports to capital market participants. Using data on Dow Jones Newswires, we find that newswires are more likely to send alerts on firms not releasing preliminary earnings, having credit...
Persistent link: https://www.econbiz.de/10008695762
Persistent link: https://www.econbiz.de/10008695765
Although researchers often view earnings management as being widespread, measuring the cost and level of earnings management is a non-trivial task. We derive a measure of earnings management cost and the associated equilibrium level of earnings management from the cross-sectional properties of...
Persistent link: https://www.econbiz.de/10012824779