Prior studies document a Delaware incorporation effect on firm valuation, generally using Tobin's Q, but the directional effects are mixed and inconclusive. Our study uses implied cost of equity to assess valuation, and we find consistent evidence that firms incorporated outside of their home...

This study explains the challenges associated with the Heckman (1979) procedure to control for selection bias, assesses the quality of its application in accounting research, and offers guidance for better implementation of selection models. A survey of 75 recent accounting articles in leading...

The concept of “audit quality” is of fundamental importance in auditing but there is little agreement on its definition or measurement. I review several approaches to understanding audit quality and argue that the most meaningful measure of audit quality is based on what the auditor is...

This paper examines whether a country's corporate transparency environment, which includes the quality of accounting information, contributes to efficient resource allocation. Based on a cross-country study of 37 manufacturing industries in 37 countries, we provide three pieces of related...