Exploiting a novel measure of proprietary information disclosure, this study shows that firms respond to their peer firms’ disclosure of proprietary information. I find that firms increase their voluntary disclosures and their liquidity improves in response to a peer firm's disclosure of...

We extend prior studies (e.g., Whisenant et al., 2003; Krishnan and Yu, 2011; Chan et al., 2012) by explicitly utilizing a stringent decomposition of total fee paid for audit services and other services in a sample of listed non-financial Danish companies. When controlling for the joint determination of...

We examine whether interlocking boards of directors help to foster knowledge spillovers between firms. To capture exogenous variation in board interlocks, we use a novel identification strategy based on schedule conflicts between firms’ annual shareholder meeting dates. For a variety of...

Regulators increasingly express concerns over auditor-provided tax services (APTS) because those services could impair auditor independence. To date, research on the impact of APTS on auditor independence has yielded mixed results, potentially due to endogeneity issues, providing no clear...

We investigate how audit firm size and large auditor-provided non-audit services (NAS) affect accruals quality around large equity issues and acquisitions for Norwegian public companies from 1999-2013. We find poorer accruals quality around large equity increases. Big 4 audit firms mitigate...

We examine whether auditor-provided tax consulting services are associated with tax and non-tax internal control material weaknesses consistent with knowledge spillover benefits. We find a positive association between the amounts of consulting fees paid, which should proxy for the scale and/or...

We hypothesize that companies in the same product market avoid sharing the same audit partner when they are concerned about possible information spillovers. Consistent with our hypothesis, we find that product market rivals are less likely to share the same partner when they perceive that...