We examine whether managers' decisions to capitalize or expense R&D expenditures convey information about the future performance of the firm. Focusing on a French setting where managers can choose to capitalize R&D expenditures under certain circumstances, we find that, after controlling for...

Complexity in applying financial accounting standards can have real operational effects if firms alter their actions in the face of increased reporting costs. We examine whether the introduction of new standards (ASU 2017-12) designed to reduce compliance burden and better align hedge accounting...