Regulatory oversight and financial reporting incentives: Evidence from SEC budget allocations

摘要: This study examines the determinants and consequences of regulatory oversight corporate disclosures. I investigate extent to which industry-level political activity influences intensity oversight, whether variation in affects managers' reporting incentives. exploit allocation budgetary resources between SEC's disclosure review offices as a source financial find evidence significant relationship visibility each office. then use amount allocated office proxy for SEC that firms given industry face. provide when is more intense managers report lower discretionary accruals, are less likely issue reports will be subsequently restated, firms' bid-ask spreads decrease. Overall, results suggest plays an important role shaping Degree Type Dissertation Name Doctor Philosophy (PhD) Graduate Group Accounting First Advisor Wayne Guay Second Luzi Hail