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Seeking Safety: The Relation between CEO Inside Debt Holdings and the Riskiness of Firm Investment and Financial Policies
CEO inside debt holdings (pension benefits and deferred compensation) are generally unsecured and unfunded liabilities of the firm. Because these characteristics of inside debt expose the CEO toExpand
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Reviewing the SEC’s Review Process: 10-K Comment Letters and the Cost of Remediation
ABSTRACT: Securities and Exchange Commission (SEC) comment letters provide independent and timely feedback on the clarity of disclosures and on the extent to which filings comply with GenerallyExpand
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Forecasting without Consequence? Evidence on the Properties of Retiring CEOs' Forecasts of Future Earnings
ABSTRACT: We investigate whether retiring CEOs engage in opportunistic terminal-year forecasting behavior and the circumstances in which such behavior is likely to be more or less pronounced. Using aExpand
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The Emergence of Second-Tier Auditors in the US: Evidence from Investor Perceptions of Financial Reporting Credibility
We examine changes in the association between auditor type (Big 4, Second-Tier, and Other non-Big 4) and perceived financial reporting credibility in the wake of events (e.g., Andersen’s failure, theExpand
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The Effect of Corporate Governance on Auditor-Client Realignments
SUMMARY: Events leading up to the implementation of the Sarbanes-Oxley Act of 2002 (SOX) increased the public's focus on corporate governance and increased regulatory scrutiny of corporate governanceExpand
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Short Interest as a Signal of Audit Risk
Motivated by evidence from the empirical accounting and finance literatures suggesting that short sellers target firms with suspect financial reporting, we investigate whether short interest providesExpand
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Disclosure Transparency about Activity in Valuation Allowance and Reserve Accounts and Accruals-based Earnings Management
We examine the relation between the transparency of disclosures about activity in valuation allowance and reserve accounts and accruals-based earnings management. We classify disclosures as beingExpand
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Does the Timing of Auditor Changes Affect Audit Quality? Evidence from the Initial Year of the Audit Engagement
We focus on the first year of the auditor-client relationship and investigate whether audit quality varies with the timing of the new auditor’s appointment. We find that audit quality is not lowerExpand
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The Effect of Voluntary Internal Control Audits on the Cost of Capital
In this paper, we investigate whether companies that voluntarily have their internal controls audited by an external auditor enjoy a lower cost of capital. Using a sample of companies thatExpand
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