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- Publications
- Influence
Audited Financial Reporting and Voluntary Disclosure as Complements: A Test of the Confirmation Hypothesis
- R. Ball, S. Jayaraman, Lakshmanan Shivakumar
- Business
- 30 June 2011
We examine the “confirmation” hypothesis that audited financial reporting and disclosure of managers' private information are complements, because independent verification of outcomes disciplines and… Expand
Earnings Volatility, Cash Flow Volatility and Informed Trading
- S. Jayaraman
- Economics
- 1 September 2008
I examine whether earnings that are smoother or more volatile than cash flows provide or garble information. Consistent with theories that predict more informed trading when public information is… Expand
Private Control Benefits and Earnings Management: Evidence from Insider Controlled Firms
- R. Gopalan, S. Jayaraman
- Business, Economics
- 21 September 2011
We examine earnings management practices of insider controlled firms across twenty-two countries to shed light on the link between consumption of private benefits and earnings management. Insider… Expand
Exit as Governance: An Empirical Analysis
- Sreedhar T. Bharath, S. Jayaraman, V. Nagar
- Economics
- 16 March 2010
Recent theory posits a new governance channel available to blockholders: threat of exit. Threat of exit, as opposed to actual exit, is difficult to measure directly. However, a crucial property is… Expand
The Effect of Enforcement on Timely Loss Recognition: Evidence from Insider Trading Laws
- S. Jayaraman
- Business
- 1 February 2012
I use the first-time enforcement of insider trading laws in sixteen countries as a shock to enforcement and examine its influence on timely loss recognition (TLR). Consistent with greater enforcement… Expand
The Role of Stock Liquidity in Executive Compensation
- S. Jayaraman, Todd Milbourn
- Economics
- 1 March 2012
ABSTRACT: We explore the role of stock liquidity in influencing the composition of CEO annual pay and the sensitivity of managerial wealth to stock prices. We find that as stock liquidity goes up,… Expand
Mark-to-Market Accounting and Information Asymmetry in Banks
- R. Ball, S. Jayaraman, Lakshmanan Shivakumar
- Business
- 12 August 2012
We examine the relation between mark-to-market (MTM) accounting for securities and information asymmetry among bank investors. Relative to historical cost, MTM incorporates more timely information in… Expand
Is Silence Golden? Real Effects of Mandatory Disclosure
- S. Jayaraman, J. Wu
- Business
- 24 June 2018
Mandatory disclosure provides benefits, but it also entails costs. One cost concerns managerial learning: by discouraging informed trading, disclosure could reduce managers’ ability to glean… Expand
The Source of Information in Prices and Investment-Price Sensitivity
- Alex Edmans, S. Jayaraman, Jan Schneemeier
- Economics
- 19 December 2016
This paper shows that real decisions depend not only on the total amount of information in prices, but the source of this information—a manager learns from prices when they contain information not… Expand
Agency-based demand for conservatism: evidence from state adoption of antitakeover laws
- S. Jayaraman, Lakshmanan Shivakumar
- Economics
- 1 March 2013
We use antitakeover laws passed by several states in the mid-1980s and early 1990s as an exogenous increase in agency conflicts and examine how these laws affect the demand for asymmetric timeliness… Expand
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