This study investigates the impact of non-punitive regulation on stock price crash risk. We
use the inquiry letter issued by the Shanghai Stock Exchange (SSE) and the Shenzhen …

As part of its goal to monitor and enhance the quality of information available to investors,
the SEC reviews companies' filings to ensure compliance with applicable financial reporting …

We examine the association between financial statement comparability and the likelihood of
accounting fraud. Prior research documents a negative association between the quality of a …

An emerging literature shows that shareholders benefit from the Securities and Exchange
Commission's (SEC) filing reviews in terms of improved disclosures and reduced information …

We examine a comprehensive set of investigations by the SEC's Division of Enforcement
offices to provide evidence on the consequences of these office's busyness on the formal …

We test the political cost hypothesis using local soldier fatalities as a source of as-if-random
variation in the threat of political costs for local defense firms. Soldier fatalities vary the threat …

We investigate the effect of board gender diversity (BGD) on investment outcomes. We
identify variation in BGD by compiling, for the first time, a global catalog of 83 BGD …

A rich literature suggests that investor relations officers (IROs) fulfill a one‐way information
intermediary role by transmitting firm information to investors. We advance this literature with …

Using the public release of comment letters on EDGAR to capture a regime shift toward
regulatory transparency, we examine whether an increase in transparency affects regulators' …

This study examines the informational value of local news outlets and how they affect insider
trading. We hypothesize that local news coverage is a critical channel through which …