We examine whether the codification has achieved some of its goals. We find that the codification is associated with a reduction in the incidence of restatements arising from inadvertent noncompliance, and timelier 10-K filings. These benefits are concentrated in small firms audited by a non-Big...

Dividend payments are generally costly to shareholders. One principal reason for such payments is that they force managers to raise funds in the external capital markets to finance new projects, which presumably reduces their incentives to engage in empire-building activities. We posit that,...

We show that the number of governance provisions imposed on a firm by a strategic alliance partner decreases with the firm’s accounting quality. This effect is weaker when the firm has greater bargaining power and stronger when the alliance project is riskier. Moreover, the net benefit to an...

We show that the number of governance provisions imposed on a firm by a strategic alliance partner decreases with the firm's accounting quality. This effect is weaker when the firm has greater bargaining power and stronger when the alliance project is riskier. Moreover, the net benefit to an...