Prior studies have shown that seasoned municipal bond prices exhibit a marked increase in variability during the period of new bond issues by the same municipality. Those studies did not attempt, however, to determine whether accounting information was part of the total information being...

Managers increase the frequency and magnitude of bad news announcements during the 1-month period prior to repurchasing shares. To a lesser extent, they also increase the frequency and magnitude of good news announcements during the 1-month period following their repurchases. These results are...

Extant research argues that borrowing from financial intermediaries subjects managers to external monitoring. However, given managers' flexibility in choosing the type of debt financing, why would managers submit themselves to external monitoring? Recent theory points to the role of managerial...