Now showing items 1-5 of 5
Managerial choice of discretionary accounting methods: An empirical evaluation of security market response
This study presents a comprehensive evaluation of managerial choice of discretionary accounting methods and the use of the reporting process in income smoothing. After analyzing concepts of smoothing behavior, including ...
A Flexible Framework for the Examination of Production, Measurement, and Contracts in the Face of Moral Hazard
I develop a framework to examine the effect of measurement on productive activity in the face of moral hazard. I allow an agent intricate control over the stochastic value of a firm's assets, and he is compensated based ...
Risk Fact or Fiction: The Information Content of Risk Factor Disclosures
Inconsistent with concerns of uninformative boilerplate or ‘copy and paste’ disclosure, I find that managers time their identification of new risk factors and removal of previously identified ones to align with the expected ...
Informational Foundations for the Macroeconomic Role of Aggregated Accounting Disclosures
I show that accounting reports contain macroeconomic signals that, when aggregated, inform agents about the economic state. These signals influence agents' economic decisions and therefore impact future economic growth. ...
Proxy Advisors' Recipe for Compensation Analysis
I explore a novel setting in which ISS, the most prominent proxy advisor, has partnership arrangements with compensation consultants (“partner consultants”). I find that firms that engage partner consultants reduce the ...