We investigate the role of bank regulatory reports in the information environments of banks. We find that: (1) Call Reports, but not FR Y-9Cs, elicit economically significant stock price and volume reactions when they are publicly released despite the fact that Call Reports usually follow...

Other comprehensive income (OCI) items are often considered to be transitory (Chambers et al. 2007; IASB 2013; CFA2014). In this paper we show that a significant portion of OCI, namely unrealized gains and losses (UGL) from available-for-sale (AFS) debt securities, is non-transitory: a negative...

We examine how informed trading activities affect the market reaction to accounting restatements. We find significantly less negative reactions to accounting estatements when managers are net purchasers of stock before the restatement, and significantly more negative market reactions when...