Purpose – The purpose of this paper is to address “the existing literature gap on the information content of derivatives reporting”. Prior work finds failings in compliance with mandatory reporting requirements in respect of financial instruments and derivative financial instruments....

We examine risk-return trade-offs associated with “covlite” deals which lack systematic covenant compliance requirements of traditional “covheavy” deals. We document demand-driven risk taking incentives in the primary markets where covlite deal pricing has become increasingly...

Institutional theory discusses whether organizations enhance their survival by converging around socially legitimated forms.This study contributes to this literature by examining the evolution of strategic choices among mid-tier and large accounting firms. The results show that the change in...