...Enrique A. Gomez; Frank L. Heflin; Jasmine Wang ABSTRACT We study firms’ decisions to provide non-GAAP income statements and the information environment consequences of Securities and Exchange Commission (SEC) comment letters directing them to stop disclosing such statements. We find firms...

...Matthew Kubic; Sara Toynbee ABSTRACT Staff at the U.S. Securities and Exchange Commission (SEC) conduct recurring reviews of firms’ filings to deter misconduct and facilitate investor access to high-quality information. We identify the names of SEC staff who work on a comment letter and examine...

..., Milan, Italy. Supplemental material can be accessed by clicking the link in Appendix B. Editor's note: Accepted by İrem Tuna, under the Senior Editorship of Mark L. DeFond. 2021 business partners insider trading private information information transfers spillover SEC...

...Matthew Kubic ABSTRACT The ability to detect misreporting is an important aspect of financial reporting regulation. I derive a measure of SEC error detection rates using information from comment letter reviews. Conditional on the SEC issuing a comment letter, I find that the review team detects...

.... Barth. 10 2017 8 2019 2020 related-party transactions disclosure regulation real consequences implied cost of capital corporate governance RPT governance SEC valuation This paper examines economic consequences of a Securities and Exchange Commission ( SEC 2006...

...Zahn Bozanic; Preeti Choudhary; Kenneth J. Merkley ABSTRACT We examine whether securities lawyers involved in SEC comment letter inquiries act as client advocates by resisting disclosure changes or as gatekeepers by encouraging disclosure transparency. Consistent with an advocacy role, we find...

... to other internationally used local standards to benefit from convergence to a greater extent, since the potential reduction in information-processing costs is presumed to be larger for such industries ( SEC 2008 ). Finally, we identify whether a firm applies LIFO and whether it operates in countries...