We examine the effect of corporate violations on bank loan contracting and document that borrowers with higher corporate violation penalties have higher loan costs. Higher corporate violations are also associated with more restrictive covenants and higher likelihood of collateral requirements....

We examine the impact of county-level religiosity on labor investment decisions. Specifically, we examine the effect of county-level religiosity on labor investment inefficiency. Drawing on the social norm theory, we hypothesize that firms located in religious counties do not engage in...

In this study, we investigate whether U.S. high-technology firms are more or less conditionally conservative relative to low-technology firms. If U.S. high-tech firms are required to expense immediately all R&D costs according to the accounting standard SFAS 2, which reflects unconditional...