XBRL is a computer language add-on that facilitates the rendering of financial information. Its development has been accompanied by claims that XBRL will, among other things, lead to continuous reporting and eliminate financial reporting differences including differences between jurisdictional GAAP. These discussions have largely ignored the literature on voluntary disclosures and earnings mana...

We examine the association between employee quality and financial reporting outcomes. Using the average workforce education level in MSA(s) where the firm operates as a proxy for employee quality, we find that firms with a high-quality workforce exhibit higher accruals quality, fewer internal control violations, and fewer restatements. These firms also issue superior management forecasts, in te...

Financial Reporting, Regulation and Information Asymmetry

Financial markets worldwide have been experiencing dramatic changes since the mid-1990s. It has been claimed that XBRL, an XML vocabulary for business reporting, is capable of introducing greater integration and transparency into financial information systems, and thus addressing some of the challenges presented by these changes. This paper presents an exploratory case study of the cooperative ...

This paper investigates the economic consequences of a financial institution’s reporting discretion in the context of bank runs. A fundamental-based run imposes market discipline on insolvent institutions, but a panic-based run shuts down institutions that could have survived with better coordination among investors. We augment a bank-run model with the financial institution’s discretion over r...

The purpose of this paper is to investigate the impact of voluntary disclosure about corporate social responsibility (CSR) on firm’s financial performance. First, a state of the art about corporate social responsibility and social reporting is presented. After that, the problems of measurement of CSR are indicated and the hypotheses are proposed. In the empirical analysis, regression models are...

We examine how firms evaluate and compensate their chief financial officers (CFOs). CFOs participate in decision making much like other executives, but unlike most other executives they have fiduciary responsibilities for reporting firms’ financial results and safeguarding the integrity of financial reporting. Responsibility for financial reporting raises the question of whether it is appropria...