The advantages and disadvantages of diversification have been debated ad nausem by academics as well as business professionals, with the current consensus appearing to be that diversification destroys value. The effect of overall diversification (with no further refinement as to whether such...

This paper examines whether and how foreign institutional donors play a monitoring role in the nonprofit sector. By analyzing 2,567 Chinese nonprofit foundations from 2005 to 2014, we find that foundations with foreign institutional donors are associated with higher quality reporting. The effect...

We examine how client product similarity within an auditor’s portfolio affects audit efficiency and pricing decisions. Using a unique set of intra-portfolio client-level data, we find that clients with product offerings more similar to those of other clients in the auditor’s portfolio are...

This study examines how organized labor affects selling, general, and administrative (SG&A) cost behavior. We find that labor cost stickiness is higher for firms facing stronger unions, but the stickiness of SG&A costs is lower. This is consistent with an argument that managers’ discretionary...