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Internal Control Over Financial Reporting and Managerial Rent Extraction: Evidence from the Profitability of Insider Trading
This paper examines the association between ineffective internal control over financial reporting and the profitability of insider trading. We predict and find that the profitability of insiderExpand
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Target Financial Reporting Quality and M&A Deals That Go Bust
This study investigates the role of financial reporting quality in merger and acquisition (M&A) deals that are ultimately terminated, i.e., go bust. If a target is a U.S. publicly-traded company, anExpand
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The Role of Managerial Ability in Corporate Tax Avoidance
We examine how higher ability managers reduce income tax payments and find they engage in greater state tax planning activities, shift more income to foreign tax havens. Expand
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M&A Due Diligence, Post-Acquisition Performance, and Financial Reporting for Business Combinations
After signing an acquisition agreement, acquiring firms conduct transactional due diligence to identify potential material adverse events and breaches of target firm representations and warranties.Expand
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Trade-Offs between Tax and Financial Reporting Benefits: Evidence from Purchase Price Allocations in Taxable Acquisitions
U.S. GAAP requires assets acquired in business combinations to be recognized at fair value. The tax basis of assets acquired in taxable asset acquisitions must also be adjusted to reflect fairExpand
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Earnings Predictability, Auditor Verification, and Financial Contracting: Evidence from Earnouts and SFAS 141(R)
We examine how auditing affects the design of financial contracts following a change in accounting standards. SFAS 141(R) requires recognition and periodic re-measurement of liabilities forExpand
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