Sections 302 and 404 of the 2002 Sarbanes-Oxley Act require firms to disclose material weaknesses (MWs) in internal controls. We investigate the association of single and multiple instances of MWs with earnings management. Multiple instances are positively associated with earnings management for...

Mergers and acquisitions (M&As) are an important aspect of corporate finance. To better understand the factors affecting market reactions to M&As, we examine market responses to M&As with private and public targets both at the time of announcement and after completion. Using a sample of over...