...Steven D. Smith; William B. Tayler; Douglas F. Prawitt SYNOPSIS Previous research finds that individuals place more weight on information when they choose to obtain it than when they acquire the same information without explicit choice. We examine whether litigation risk and auditor experience...

... uncertainty voluntary disclosure management earnings forecasts management earnings guidance litigation risk CBOE Volatility Index VIX GDP GDP forecast dispersion Citing heightened macroeconomic uncertainty many firms announced changes to their earnings guidance policies in early 2009...

...Aloke (Al) Ghosh; Charles Y. Tang SYNOPSIS Although auditor litigation risk is considered as a leading explanation for auditor resignations, audit risk and business risk might also trigger resignations. Auditor litigation risk is defined as the risk of the auditor being involved in a lawsuit...

... influences the relationship between conditional conservatism and audit fees. Higher corporate governance quality could lead to lower litigation risk, and hence lower audit risk. When the audit risk is low because of better corporate governance, higher conservatism is less likely to further reduce audit fees...

... to control firms. This suggests that managers of test companies become increasingly concerned about the risk imposed by optimistic forecasts, including investor litigation risk. Our results hold after controlling for other determinants of voluntary disclosure including company size, analyst following...