The Governmental Accounting Standards Board (GASB, 1987, p. 12) has identified bond investors as a primary user group of government financial reports and is currently active in setting standards for pension accounting and reporting (GASB, 1986, 1988; lves, 1988). However, relatively little is known...

Common ownership (i.e., financial institutions’ block holding of stock in industry rivals) and its implications for investors are matters of current interest and debate (SEC 2018). Motivated by this debate and the salience of common ownership, we investigate whether and how auditors price...

We investigate whether the level of ownership by institutional shareholders with a long-term horizon is associated with firms’ tax avoidance activities. In theory, tax avoidance increases firm value through tax savings; however, institutions with long-term investment horizons are likely to...

Corporate financial transparency can affect labor markets directly by mitigating information asymmetries and optimizing the matching of heterogeneous firms and employees (matching efficiency channel) and indirectly through the effect of transparency on firms' capital inputs (capital utilization...