The corporate information environment develops endogenously as a consequence of
information asymmetries and agency problems between investors, entrepreneurs, and …

Practitioners have long criticized risk-factor disclosures in the 10-K as generic and
boilerplate. In response, regulators emphasize the importance of being specific. By using a …

In this paper, we consider the price effects of risk disclosure. We develop a model in which
investors are uncertain about the variance of a firm's cash flows and the firm releases an …

This monograph reviews economic models that study earnings management and
conservatism in an information economics framework. Both introduce a deliberate or a …

We study a model in which managers' disclosure and investment decisions are both
endogenous and managers can manipulate their voluntary reports through (suboptimal) …

The main goal of this paper is to analyze the relation between the leverage ratio and the
managers' decision to manage earnings in Brazil. Using abnormal accruals as a proxy for …

Effective financial reporting requires efficient information processing. This paper studies
factors that determine efficient information processing. I exploit a unique small business …

While researchers and practitioners alike estimate firms' exposures to systematic risk factors,
the disclosure literature typically assumes that exposures are common knowledge. We …

This article aims to present a critical overview of the traditional studies in earnings
management, focusing on the impact on the making decision process. This overview in the …

Purpose: To assess the impact of the mandatory adoption of the International Financial
Reporting Standards (IFRS) on the quality of the financial information available on listed …