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Keywords: information asymmetryClose
The Accounting Review 1–27.
Published: 30 November 2023
... Editorship of W. Robert Knechel. 19 07 2022 12 10 2023 31 10 2023 2023 corporate misconduct management control systems supervisors information asymmetry delegation ethics THE ACCOUNTING REVIEW Vol. XX, No. XX MONTH YEAR pp. 1 27 American Accounting Association DOI...
The Accounting Review (2023) 98 (6): 299–325.
Published: 01 October 2023
... economic conditions and is likely driven by increased information costs. Our results highlight that local newspapers play a meaningful role in mitigating information asymmetry between insiders and outsiders. Data Availability: Data used in this study are available from the sources identified...
The Accounting Review 1–23.
Published: 05 September 2023
...Enrique A. Gomez ABSTRACT I study the effect of the implementation of the SEC’s EDGAR system on information asymmetry among investors. The SEC adopted EDGAR to decrease acquisition costs of mandatory filings. However, disclosure theory suggests that, even when acquisition costs are low...
The Accounting Review (2023) 98 (4): 55–88.
Published: 01 July 2023
... more disclosure and are willing to bear costs of disclosure to reduce information asymmetries among capital market participants. We then empirically test our predictions in the setting of newly public firms and firms where the CEO is approaching retirement. We find that firms with insiders that have...
The Accounting Review (2022) 97 (7): 429–463.
Published: 01 November 2022
... to be constrained or unconstrained by the increase in prescribed timeliness. After the regulatory change, firms filing constrained 8-Ks exhibit increases in information asymmetry between investors and investor disagreement at the 8-K filing date relative to firms filing unconstrained 8-Ks. Moreover, the relative...
The Accounting Review (2021) 96 (4): 81–109.
Published: 01 July 2021
... crash risk. Our evidence is consistent with recent theory that outside investors learn more about firms when tax enforcement is stricter. Additionally, path analysis suggests that the monitoring channel (direct path) plays a critical role in shaping crash risk relative to information asymmetry channels...
The Accounting Review (2021) 96 (2): 261–301.
Published: 01 March 2021
... . Alternative information sources and information asymmetry reduction: Evidence from small business debt . Journal of Accounting and Economics 59 (2-3) : 242 – 263 . https://www.sciencedirect.com/science/article/abs/pii/S0165410114000445...
Includes: Supplementary data
The Accounting Review (2021) 96 (1): 171–198.
Published: 01 January 2021
... note: Accepted by Mark T. Bradshaw, under the Senior Editorship of Mark L. DeFond. 1 9 2015 1 4 2020 2021 mutual funds information asymmetry delegated portfolio management social ties In emerging markets, where much information is obtained through private channels...
The Accounting Review (2020) 95 (4): 331–363.
Published: 01 July 2020
... provide evidence that the introduction of a voluntary and unverified risk disclosure reduced information asymmetry within this unregulated market. JEL Classifications: M41; G24; L15; R12; D03. We are grateful for comments and suggestions from two anonymous referees, Cyrus Aghamolla, Mark Bagnoli...
Includes: Supplementary data
The Accounting Review (2020) 95 (1): 79–99.
Published: 01 January 2020
... ex ante information asymmetry and expected profits for the informed trader by allowing him to refine his trading strategy and complete his information mosaic. The informed trader's ability to combine information and enhance his advantage is more prevalent when there is more uncertainty about...
The Accounting Review (2019) 94 (6): 165–200.
Published: 01 November 2019
.... Focusing on the inefficiency in debt contracting arising from the two-sided information asymmetry, we show that accounting information, if sufficiently accurate, can mitigate the informational advantage of the informed lender. Bias in accounting information systems per se, be it conservative...
The Accounting Review (2018) 93 (5): 51–71.
Published: 01 September 2018
... funding from the Lee Kong Chian Fellowship. Editor's note: Accepted by Rachel M. Hayes, under the Senior Editorship of Mark L. DeFond. June 2015 November 2017 2018 XBRL analysts institutions information asymmetry The eXtensible Business Reporting Language (XBRL...
The Accounting Review (2018) 93 (4): 151–176.
Published: 01 July 2018
.... DeFond. September 2015 October 2017 2018 information asymmetry voluntary disclosure accounting financial reporting public information private information asset pricing The strategic communication between firms and investors in capital markets through corporate...
The Accounting Review (2018) 93 (2): 37–59.
Published: 01 March 2018
...Dan Amiram; Alon Kalay; Avner Kalay; N. Bugra Ozel ABSTRACT We examine the role of the coupon choice in bond contracts as a signaling mechanism in the presence of information asymmetry between borrowers and lenders about the credit quality of the borrower. Prior literature focuses on the use...
The Accounting Review (2017) 92 (4): 115–143.
Published: 01 July 2017
... by Mohan Venkatachalam, under the Senior Editorship of Mark L. DeFond. June 2014 October 2016 2017 geography local bias Google investor attention information asymmetry earnings response coefficient post-earnings announcement drift investor psychology The ways in which...
The Accounting Review (2017) 92 (3): 57–85.
Published: 01 May 2017
..., by communicating with banks privately, unionized firms can reduce the adverse selection costs while preserving the information asymmetry with organized labor. Furthermore, I show that organized labor influences the structure of syndicated loans. When firms with strong unions withhold public disclosures...
The Accounting Review (2015) 90 (6): 2483–2514.
Published: 01 November 2015
... absolute accrual model residuals. Finally, we examine the information processing effects of accounting consistency. We find that greater accounting consistency in the time-series and the cross-section is associated with lower information asymmetry, as proxied by bid-ask spread and illiquidity. Greater...
The Accounting Review (2015) 90 (6): 2375–2410.
Published: 01 November 2015
... offerings earnings announcements information asymmetry litigation risk loan originations seasoned equity offerings Our study contributes to the literature on the role of information asymmetry in corporate decision-making. First, we add to the literature on the role of accounting information...
The Accounting Review (2015) 90 (4): 1333–1362.
Published: 01 July 2015
... meetings, and the Southern Finance Association meetings. All errors are my own. Editor's note: Accepted by Gregory S. Miller. April 2013 July 2014 2015 disclosure information asymmetry share repurchases share buyback repurchase...
The Accounting Review (2015) 90 (3): 917–939.
Published: 01 May 2015
... information advantages and the opportunity to conceal and divert hidden value for private benefit. In the presence of dynamically consistent optimal compensation contracts, we ask how seemingly unrelated information asymmetry interacts with the strength of the control environment and the threat of replacement...