Prior theoretical work generates conflicting predictions with respect to how CEO age impacts
risk-taking behavior. Consistent with the prediction that risk-taking behavior decreases as …

Firms have an incentive to manage media coverage to influence their stock prices during
important corporate events. Using comprehensive data on media coverage and merger …

This study examines whether acquirers make better acquisition decisions when target firms'
financial statements exhibit greater comparability with industry peer firms. We predict and …

We provide new evidence on the role of financial advisors in M&As. Contrary to prior studies,
top‐tier advisors deliver higher bidder returns than their non‐top‐tier counterparts but in …

Research summary: In this article, we study how a firm's stakeholder orientation affects the
performance of its corporate acquisitions. We depart from prior literature and suggest that …

We examine whether institutions' monitoring effectiveness is related to the number of their
blockholdings. We find that the number of blocks that a firm's large institutions hold is …

Finance theory predicts that board independence is not always in the shareholders׳ interest.
in situations in which board advice is more important than monitoring, independence can …

We examine merger and acquisition (M&A) transactions in which the acquirer and the target
share a common auditor. We predict that a common auditor can help merging firms reduce …

Using seasoned equity offerings (SEOs) from 1989 to 2008, we examine the role of
accounting conservatism in the equity market. We find that issuers with a greater degree of …

We examine the impact of shared auditors, defined as audit firms that provide audit services
to a target and its acquirer firm prior to an acquisition, on transaction outcomes. We find …