We use supervised Latent Dirichlet Allocation (sLDA) to measure differences in the content of the Chinese and English translations of the annual reports of Chinese firms. We find systematic differences in content across languages that are not the mechanical effects of translation and that vary...

We study how the availability of domestic credit influences the contribution that financing activities make to a firm's return on equity (ROE). Using a sample of 51,866 firms from 69 countries, we find that financing activities contribute more to a firm's ROE in countries with higher domestic...

We study the frequency of restatements by foreign firms listed on US exchanges. We find that the restatement rate of US listed foreign firms is significantly lower than that of comparable US firms and that the difference depends on the firm's home country characteristics. Foreign firms from...