This paper examines pricing differences across recognized and disclosed fair values. We build on prior literature by examining two theoretical causes of such differences: lower reliability of the disclosed information, and/or investors' higher related information processing costs. We examine...

We study the reputational costs of targeted disclosure regulation – disclosure requirements aimed at policy objectives outside of securities regulators' traditional missions. This emerging type of disclosure regulation empowers civil society to deter firms' illicit actions. Our setting is the...

This paper discusses empirical evidence on the economic consequences of mandatory adoption of International Financial Reporting Standards (IFRS) in the European Union (EU) and provides suggestions on how future research can add to our understanding of these effects. Based on the explicitly...