We investigate write-downs of assets of oil and gas firms due to the application of the SEC full-cost ceiling test during the period of the largest decline in oil and gas prices since this test was mandated. The correlation between the write-down amounts and contemporaneous returns is...

This study examines whether boards discipline CEOs and CFOs more severely for accounting restatements after passage of the Sarbanes-Oxley Act (SOX). The disciplinary actions I focus on are job termination and reductions in bonus payouts. Boards have incentive to take the highly visible action of...

Regulators have expressed concern that investors are ldquo;confusedrdquo; by the high volume and questionable materiality of accounting restatements since passage of the Sarbanes-Oxley Act (SOX). These concerns are consistent with a history of regulatory skepticism about investors' ability to...

This study examines whether boards discipline CEOs and CFOs more severely for accounting restatements after passage of the Sarbanes-Oxley Act (SOX). The disciplinary actions I focus on are job termination and reductions in bonus payouts. Boards have incentive to take the highly visible action of...

We examine whether variation in the separation of ownership and control influences the tax practices of private firms with different ownership structures. Fama and Jensen (1983) assert that when equity ownership and corporate decision-making are concentrated in just a small number of...

Using a sample of restatement firms and a meet-or-beat model to classify firms as making discretionary accounting choices for opportunistic meet-or-beat (OP-MB) reasons, we show that originally reported earnings and accrual components are less predictive of future cash flows relative to the...