... shareholder activism corporate governance regulation We examine whether the adoption of a shareholder vote on executive pay (commonly known as “say on pay”) is associated with an increase in insider trading profits. Over the last two decades, numerous countries have introduced a say on pay (SoP...

... quality regulation restatements sanctions The Sarbanes-Oxley Act of 2002 created the Public Company Accounting Oversight Board (PCAOB), which introduced public regulation of the auditing profession and ended an era of self-regulation ( Hilary and Lennox 2005 ). The cost-benefit tradeoffs...

... 2021 11 05 2022 31 05 2022 2023 non-GAAP SEC comment letters regulation Over the past two decades, it has become common practice for market participants to evaluate a company’s performance using non-GAAP earnings ( Bentley, Christensen, Gee, and Whipple 2018...

...Bradley E. Hendricks; Jed J. Neilson; Catherine Shakespeare; Christopher D. Williams ABSTRACT Regulation is often proposed, developed, and finalized over a lengthy rule-making period prior to its adoption. We examine the period over which banking authorities discussed, adopted, and implemented...

... severity and decreases as the litigation progresses over time. Overall, our results highlight the role of federally accessible court filings in facilitating the market's pricing of defendant firms. JEL Classifications: K41; M40; M41; M48. litigation regulation PACER A hallmark of the U.S...

... prior to economic news events, such as acquisition announcements, earnings announcements, or class action lawsuits ( Wei and Zhou 2016 ; Kedia and Zhou 2014 ; Billings and Klein 2011 ). corporate disclosure market transparency bond market price transparency TRACE regulation I study...

.... Editor's note: Accepted by Michael S. Wilkins, under the Senior Editorship of Mary E. Barth. 1 11 2019 1 2 2021 2022 audit quality PCAOB regulation inter-industry worker flows revolving door The Sarbanes-Oxley Act of 2002 was designed to protect investors by improving...

... policyholder rebates. Our study illustrates how a combination of regulatory design choices and lax oversight can weaken the effectiveness of accounting-based regulation and have substantial economic consequences. We thank Jim Carson, Anne Ehinger, Cameron Ellis, Meg Esson, Steve Fier, Josh Frederick...

... a “deficiency-free” inspection report by issuing additional external capital amounting to 1.4 percent of assets and increasing investment by 0.5 percent of assets. These effects are larger for (1) financially constrained companies and (2) companies located in countries where there is no regulator...

...Sehwa Kim; Seil Kim; Stephen G. Ryan ABSTRACT We examine economic consequences of U.S. bank regulators' phased removal of the prudential filter for accumulated other comprehensive income for advanced approaches banks beginning on January 1, 2014. The primary effect of the AOCI filter is to exclude...

... in subsidiaries from countries with more lenient regulations. Taken together, our findings yield important insights on the drivers of earnings management location within the firm and highlight the need for better cross-country coordination in regulatory design. JEL Classifications: F23; G15; G34; G38; M41; M48...

... roles that a securities lawyer could perform in the context of corporate disclosure: client advocate and gatekeeper. When serving as a client advocate, the securities lawyer defends the client's existing disclosure positions by acting as a bulwark between the company and the regulator. Although...

....” Editor's note: Accepted by Mohan Venkatachalam, under the Senior Editorship of Mark L. DeFond. May 2016 September 2017 2018 financial reporting frequency banking regulation asset quality lending We examine the effects of financial reporting frequency on the quality...

...Frank Heflin; William J. Kross; Inho Suk ABSTRACT We document that the effect of Regulation Fair Disclosure (FD) on public management earnings forecasts (MFs) is asymmetric. Our results suggest that FD increased managers' use of MFs as a downward-guidance mechanism to help achieve meeting...

... IFRS regulation This paper examines how earnings management behavior is influenced by the reporting regulatory environment. Earnings management can create information asymmetry between management and investors by making it difficult for financial statement users to accurately assess...

... ability to benefit from concealing and diverting firm value. It is optimal to maintain a partially informed board to the mutual benefit of shareholders and managers, and for firms in a stricter control environment to maintain a more informed board. Due to the indirect effect on SHC, regulations...

... and reasonable,” we find that CEO compensation costs for affected nonprofits during the post-regulation periods have increased by about 6.3 percent when compared with a control group of comparable unaffected nonprofits. In addition, the relative increase in CEO compensation appears to come from nonprofits...

... ownership, liquidity, and market valuation relative to a matched sample of control firms. We also examine the differential impact the exogenous shock of Regulation Fair Disclosure (Reg FD) had on firms with an established professional IR department. We find these IR firms more than doubled their level...

... ratios financial reporting quality regulation cost shifting agency problems donor sophistication The authors thank John Harry Evans III (editor), two anonymous reviewers, Erica Harris, Chris Jones, Christo Karuna, Michael Maher, Mary Michel, Carl...

... 2012 IASC IASB IAS IFRS standard setting regulation In the past several years, most accounting academics have been paying close attention to the International Accounting Standards Board (IASB) and its production of International Financial Reporting Standards (IFRS). In its short life...