In the presence of litigation facing suppliers, the supply-chain relationship is at risk. Suppliers with principal customers (dependent suppliers) have a higher concentration of sales to customers, and they are more at risk relative to suppliers without principal customers (non-dependent...

We examine voluntary disclosures made by issuers of initial coin offerings (ICOs) in their “white papers” and use them to rate the blockchain technology being developed by the ICO issuers. First, we find that most ICOs receive a low rating. In fact, over 80% of the ICOs do not need to use a...

There is scant empirical evidence on how government involvement affects the investor demand for firm-specific information. We fill the void by testing how investors respond to risk-factor disclosures in IPO prospectuses in China, where state-controlled firms receive government-offered implicit...

The purpose of this study is to determine whether and how campaign collaborator disclosure influences crowdfunding success. On June 13, 2016, Kickstarter, a global rewards-based crowdfunding platform, granted all fundraisers access to a “project collaborator” function, allowing them to...