Following the Basel Committee’s advocacy of value-at-risk (VaR) disclosure in external reports of financial institutions, the U.S. Securities and Exchange Commission issued Financial Reporting Release No. 48 to permit VaR disclosure as one of the most important disclosure approaches for...

This dissertation investigates the relation between firm disclosure, analyst forecast bias, and the cost of equity capital (COEC). Since analyst forecast bias is associated with both implied COEC estimates and disclosure, it is important to control for or remove it from COEC estimates when...

This study examines the timeliness of write-downs taken by U.S. financial institutions during the financial crisis of 2007-2008. The timeliness of write-downs is measured by benchmarking the quarterly accounting write-down schedule with the devaluation schedule implied by credit indices such as...

The present survey article formed the basis of a presentation by G. Richardson to the 8 July 2003 plenary session of the Accounting and Finance Association of Australia and New Zealand Conference in Brisbane, Australia. The present article reconciles the historical and forecasting branches in...

Since China launched the economic reform in 1978, the production efficiency and financial performance of state-owned enterprises (SOEs) have been a focus of interest in both the academic community and popular press. Many studies have concluded that SOEs improved their production efficiency under...

Modern lotteries in the United States are run exclusively by state governments. In many cases, states establish separate lottery agencies to administer and promote the games. One statutory duty of many lottery agencies is to maximize the net revenue of the games, hence, all agencies engage in...

Multiple solutions often exist in both non-cooperative and cooperative games. In this thesis we use game theoretical arguments and experiments to examine multiplicity in two different areas, namely uniform price auctions and weighted voting games. In the second chapter we develop a theoretical...