As the audit environment becomes more demanding and complex, so does the set of analytical tools available to an auditor. The purpose of this paper is to examine the effect of two complex audit technologies commonly used by auditors, benchmarking of performance measures and strategic analysis,...

Recent legislations oblige organizations to monitor the effectiveness of internal control mechanisms that are necessary to prevent fraud. However, little is known about the effectiveness of different internal controls. We investigate whether the duty to sign work results—one of the most...

This paper studies portfolio allocation in the international financial market when investors exhibit ambiguity aversion towards assets issued in foreign locations. Entrepreneurs located in each country have access to a risky technology and want to attract capital. The authors characterize...

This paper examines the effect of dispersion in firms' existing debt structures on the use of covenants in new loans. The authors find that more covenants are included when the existing debt is more dispersed. This result is consistent with the idea that dispersed debt structures harbor a...