We analyze the importance of policy uncertainty to textual disclosure in the U.S. over the 1996 to 2015 period. We find that policy uncertainty increases textual disclosure length, lowers readability, and increases the tone of uncertainty and negativity. Our strong, robust evidence implies that...

Relying on their history of legal infractions to measure individuals' risk tolerance, we examine the association between engagement partners' risk appetites and audit quality in the U.S. Criminology and economics research links criminal activity with enduring personality traits that capture an...

We analyze the importance of policy uncertainty to textual disclosure in the U.S. over the 1996 to 2015 period. Consistent with the information-acceleration view, we find that policy uncertainty increases textual disclosure quantity evident in disclosure length. We also document that policy...

Employing an international sample of 10,012 firms across 62 economies spanning 2005–2017, we show that climate risk is negatively associated with corporate innovation activities. This finding is consistent with increased managerial risk aversion when managers perceive higher climate risk,...