The SEC prohibits the presentation of non‐GAAP measures before corresponding GAAP
measures; however, a large proportion of non‐GAAP reporters present non‐GAAP EPS …

We study the role of litigation risk in M&A valuations. Specifically, we hypothesize that
litigation risk leads to strategic valuations in fairness opinions (FOs) obtained in M&A …

While US legislation prohibits employers from sharing information about their employees'
compensation with each other, companies are still allowed to acquire and use more …

This paper analyzes the effects of expanded compensation disclosures on manager pay. For
identification, I use the introduction of the Compensation Discussion and Analysis (CD&A) in …

Direct experience of a peer's punishment might make non-punished peers reassess the
probability and consequences of facing punishment and hence induce a change in their …

When companies select and use compensation peers to determine chief executive officer
(CEO) compensation, they create unintended peer effects on corporate innovation due to the …

Mandatory disclosure of CEO compensation peers signals potential outside opportunities for
the cited CEOs by revealing which companies view them as viable executive candidates …

We document an important element of CEO compensation design–benchmarking of the pay
components. Analyzing a panel of CEO compensation data entailing 1451 S&P 1500 firms …

We examine the strategic choice of peer comparables in fairness opinions (FOs) used in
M&A valuations. Using a hand-collected sample of peer comparable analyses and a …

The current expected credit losses (CECL) model stipulates that loan loss provisions should
be forward-looking. I document that banks increasingly rely on macroeconomic forecasts …