Algorithmic trading (AT) has grown dramatically in recent years and now makes up over half of all trades and orders in the market. I investigate whether and how AT affects voluntary disclosure by managers. I hypothesize that AT’s differential ability to process information and its speed of trading affects how...
In the first essay, I examine the impact of exogenous changes in stock prices on managers' voluntary disclosures. Specifically, I investigate whether stock price declines prompt managers to voluntarily disclose firm-value-related information that was withheld prior to the decline because it was "unfavorable" but became favorable at a lower stock...
This dissertation expands on the existing disclosure theory by considering the monitoring role of a firm's disclosure as well as recognizing how a firm's disclosure is influenced by the firm's monitoring mechanisms. The first chapter of the dissertation examines the effect of corporate governance on a firm's earnings reporting process....
I use the current accounting rules for earnouts and the previous changes in the accounting rules for earnouts to examine three research questions. My first research question is whether accounting regulation has real effects on the use of earnouts. My second research question is whether the earnout liability represents the...