We investigate the joint effect of managers' self-inclusive language (SIL) and performance news on investors' reactions to accounting disclosures. We identify two types of SIL: individual SIL, which includes first-person singular pronouns (e.g., I, me) and collective SIL, which includes...

We investigate the incremental market reaction to first-time going concern audit reports (GCARs) relative to similarly distressed non-GCAR firms. We utilize a matched-sample research design to show that first-time GCARs are associated with incremental negative abnormal returns and increases in...

This paper presents clinically-based studies of two acquisitions that received very different stock market reactions at announcement one positive and one negative. Despite the differing market reactions, we find that ultimately neither acquisition created value overall. In exploring the reasons...