This essay reviews the theoretical and empirical literature on quality disclosure and
certification. After comparing quality disclosure with other quality assurance mechanisms …

This review surveys the literature on the corporate governance of banks. Traditional
corporate governance mechanisms, such as concentrated ownership and takeover threats …

This paper investigates the divergence of environmental, social, and governance (ESG)
ratings based on data from six prominent ESG rating agencies: Kinder, Lydenberg, and …

We investigate whether the information disclosure of Environmental, Social, Governance
(ESG) criteria is more crucial than actions for the financial performance of firms by using two …

In online outsourcing platforms where clients (buyers) can procure diverse services from
freelancers (service providers), skill certification systems are usually offered for freelancers …

External audits of AI systems are increasingly recognized as a key mechanism for AI
governance. The effectiveness of an audit, however, depends on the degree of access …

In many regulated markets, private, third-party auditors are chosen and paid by the firms that
they audit, potentially creating a conflict of interest. This article reports on a two-year field …

We find that regulators can implement identical rules inconsistently due to differences in
their institutional design and incentives, and this behavior may adversely impact the …

We show that sovereign debt impairments can have a significant effect on financial markets
and real economies through a credit ratings channel. Specifically, we find that firms reduce …

The credit rating industry has historically been dominated by just two agencies, Moody's and
Standard & Poor's, leading to long-standing legislative and regulatory calls for increased …