In this paper, we provide a broad analysis of the performance of organ procurement organizations (OPOs) in the United States and investigate factors affecting the number and quality of procured organs. Using comprehensive data from 51 OPOs’ annual cost reports from 2015 to 2020, we find wide...

In this paper, we provide a broad analysis of the performance of organ procurement organizations (OPOs) in the United States and investigate factors affecting the number and quality of procured organs. Using comprehensive data from 51 OPOs’ annual cost reports from 2015 to 2020, we find wide...

In this paper, I examine the impact of ambiguity (Knightian uncertainty), alongside that of risk, on firms’ voluntary disclosure decisions. I confirm the well-known result that an increase in risk— uncertainty over outcomes—is associated with an increase in management guidance (earnings...

We explore the role of foreign directors in mitigating the effects of supply chain disruptions caused by economic policy uncertainty (EPU) spikes in their home countries. Using a large sample of global supply chain relationships of US manufacturing firms, we show that the likelihood of a US...

There is growing public concern over the rapid growth in CEO pay relative to average worker pay (CEO pay ratio). Critics contend that high CEO pay ratios could destroy firm value by damaging employee morale and/or signal CEO rent extraction. In this paper, we use a proprietary dataset to examine...

Although the arrival of investment opportunities increases the demand for information, it is also likely to exacerbate disclosure costs. This study examines the relationship between the arrival of investment opportunities and firm disclosures in the context of Medicare national coverage...

This study examines the impact of the California Nonprofit Integrity Act (2004) on CEO compensation costs in affected organizations. Contrary to the stated objective of the Act that executive compensation be “just and reasonable,” we find that CEO compensation costs for affected nonprofits...

Although prior literature has documented a positive association between business risk and audit fees, it remains unclear whether, in addition to expending greater audit effort on riskier clients, auditors also charge a risk premium. This is an important issue because a risk premium is a...

Studies suggest that, pursuant to the implementation of SFAS 133, even sophisticated users of financial statements find it difficult to comprehend earnings implications of hedging derivatives. Moreover, due to stringent hedge accounting requirements under these standards, many economic hedges do...