Corporate innovation propels both company performance and economic growth. Yet, measuring corporate innovation proves to be challenging, leading researchers to rely on a variety of different signals, such as reported R&D expenditures, patent citations and new product announcements. I posit that...

We examine how the threat of exit by non-blockholders (investors with ownership 5%) relates to firms’ income smoothing. Unlike informed blockholders, non-blockholders lack private information and therefore rely more on reported accounting numbers to evaluate firm performance. To isolate the...

We examine how the threat of exit by non-blockholders (investors with ownership 5%) relates to firms’ income smoothing. Unlike informed blockholders, non-blockholders lack private information and therefore rely more on reported accounting numbers to evaluate firm performance. To isolate the...