This study examines the effect of mandatory XBRL disclosure across various aspects of the financial information environment. Our findings show an increase in information efficiency, a decrease in event return volatility, and a reduction of change in stock returns volatility for 428 firms (1,536...

We examine the joint pricing effects of restatement announcements and associated MW disclosures. First, we analyze whether a dual disclosure of both a MW and restatement is viewed more adversely by the market at the time of restatement. We show that firms that announce both a restatement and an...

By analysing auditors' SOX 404 reports from 2004 to 2011 we find that after 2006 Big 4 reporting of both information technology control weaknesses (ITWs) and non-ITWs in reports with ITWs decreased significantly. This change appears to reflect Big 4 reporting practices in response to a change in...