This paper explores the effects of public information (e.g., accounting earnings) in a competitive lending setting where the borrower can engage in risk shifting. If a privately informed "inside" creditor bids against outsider creditors, public information levels the playing field with...

Source: Dissertation Abstracts International, Volume: 69-01, Section: A, page: 0274.

Source: Dissertation Abstracts International, Volume: 68-09, Section: A, page: 3933.

Conventional wisdom suggests that audit risk disclosure improves the quality of audited financial reports because the disclosure reduces information asymmetry between investors and companies. In contrast, we show that audit risk disclosure provides companies with another channel to influence...