Prior research documents wide variation in the precision of accounting standards (rules-based standards (RBS) versus principles-based standards (PBS)). We examine whether financial reporting quality evident in restatements is associated with accounting standard precision and whether the role...

This study examines the impact of voluntary environmental disclosure on the cost of equity capital and firm value, and on the public perception about a firm's environmental performance. A salient feature of the study is that our analysis controls for corporate environmental performance using...

Following the Basel Committee's advocacy of value-at-risk (VaR) disclosure in external reports of financial institutions, the U.S. Securities and Exchange Commission issued Financial Reporting Release No. 48 to permit VaR disclosure as one of the most important disclosure approaches for...

We analyze the importance of policy uncertainty to textual disclosure in the U.S. over the 1996 to 2015 period. We find that policy uncertainty increases textual disclosure length, lowers readability, and increases the tone of uncertainty and negativity. Our strong, robust evidence implies that...

We analyze the importance of policy uncertainty to textual disclosure in the U.S. over the 1996 to 2015 period. Consistent with the information-acceleration view, we find that policy uncertainty increases textual disclosure quantity evident in disclosure length. We also document that policy...

Building on Desai and Dharmapala’s (2006) complementarity theory on the relation between tax avoidance and insider diversion, we contribute to international research by examining the importance of tax avoidance to equity pricing, and the role that institutional environments play in shaping...

Completeness and timeliness are two properties of firm disclosures valued by investors and promoted by standard setters in their conceptual frameworks of financial reporting. Nevertheless, prior studies suggest that these two properties may have opposing effects in that completeness could...