After firms move trading in their stock to the American or New York Stock Exchanges, stock
returns are generally poor. Although many listing firms issue equity around the time of listing, …

We examine the valuation impact of changes in the accounting procedures and estimates
underlying reported financial data in the year of the change as well as in the postchange years…

On July 6, 2006, the Financial Accounting Standards Board (FASB) published its ‘‘preliminary
view’’of the conceptual framework (FASB 2006). As the subtitle declares, it is (should or …

In this article, we analyze forensic warning signals that appeared in Enron's financial statements
in the years 1996-2001, in which Enron's revenues increased over 1000%, from $13.3 …

on a timely basis. In addition, we are very grateful to Steve Errick, our publisher at Page 1
ACKNOWLEDGMENTS So many people contributed co this book that we scarcely know …

When a mighty company like Enron fails, there are bound to be many causes and many
villains. On the one hand, a corporation could fail simply because of adopting inadequate …

This paper models the borrowing decision of a small firm seeking a bank loan when it can
optionally hire, at a cost, an independent external auditor to convey its risk characteristics to …

This study examines the potential information content of oil and gas reserve value disclosure
requirements mandated by the SEC in 1979 by examining whether the reserve value …

This study examines whether the large number of depreciation-related accounting changes
made by oil and gas drilling firms during the early eighties can be explained by changes in …

This paper examines the behavior of accounting accruals when a firm creates or participates
in business transactions with outside entities that can shift accruals from operating to non-…