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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 ...
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 ...