Theory argues that career concerns (i.e., concerns about the impact of current performance on contemporaneous and future compensation) encourage managers to withhold bad news disclosure. However, empirical evidence regarding the extent to which a manager's career concerns are associated with a...

A manager may choose not to record the full extent of bad economic news reflected in negative stock returns (i.e. a manager may exercise low timely loss recognition) if she believes she has private information that justifies a more favorable outlook than the stock market’s pessimistic outlook....

The Jumpstart Our Business Startups (JOBS) Act creates many exemptions to reduce the cost of going public for smaller issuers that qualify as an Emerging Growth Company (EGC). One set of provisions allows analysts affiliated with EGCs' underwriters to communicate privately with management and...