We examine the impact of auditor choice on debt pricing in firms' early public years when they are lesser known. Our evidence suggests that retaining a Big Six auditor, which can reduce debt monitoring costs by enhancing the credibility of financial statements, enables young firms to lower their...

We examine the importance of audit partners’ prior non-public accounting experience (hereafter, “industry experience”) to audit outcomes. We conducted 20 (nine) semi-structured interviews of audit partners with (without) industry experience. These interviews shed light on...

We examine whether auditors accommodate the information needs of some clients by sharing their private information learned from other clients in their portfolio. In analyzing the setting where the forecast-issuing brokerage houses and the forecasted companies engage the same auditor, we find...

Using the staggered implementation of the EDGAR system from 1993 to 1996 as a shock to information dissemination technologies, we examine the potential benefits and costs of modern information technologies on the real economy. On the one hand, we document that broader information dissemination...

Modern information technologies have greatly facilitated timely dissemination of information to a broad base of investors at low costs. To examine their effects on the real economy, we exploit the staggered implementation of the EDGAR system from 1993 to 1996 as a shock to information...