We examine the relationship between bank asset and informational quality. We use a diversified panel of 699 banks from 84 countries and measure opacity (lack of informational quality) with rating disagreements between issuer-specific ratings by the Big 3 credit rating agencies (S&P, Moody's and...

Using U.S.-listed Chinese firms as the setting, this paper studies a novel channel through which investors can acquire information about firms' financial reporting quality, that is, the reports published voluntarily by short sellers. I find that short sellers tend to target firms that have...