We study the effect of changes in CEO inside debt on equity and debt values during the period in which firms' disclosure of inside debt increased. We predict optimal CEO relative debt-equity incentive ratios based on firm and CEO characteristics, and show that firms adjust their ratios towards...

Nearly 40% of IPO firms redact information from their SEC registration filings. These firms exhibit characteristics consistent with the need to shield proprietary information from potential rivals. They experience greater underpricing, but pre-IPO insiders reduce underpricing-related wealth...

Firms that misreport financial information pay greater spreads on new bank loans for at least six years following restatement of the misreported information, whether benchmarked against their pre-restatement loans or similar loans of matched non-misreporting firms. Misreporting firms are more...