We study auditors' client risk management in the first year of SOX 404 implementation, and find that there exists a pecking order among auditors' strategies to manage control risk resulting from internal control weaknesses. We first examine the relations between internal control weaknesses and...

In this study, we establish a connection between the levels of market attentions of a stock with its long memory features. We construct two portfolios of US equities based on previous studies' criteria for neglected and popular stocks and measure the degrees of persistence for their daily...

Mounting evidence from the literature points to the existence of covariance asymmetry for financial assets. That is, conditional volatility and correlation of financial returns tend to rise more after negative return shocks than after positive ones of the same size. This paper extends the...