Dan S. Dhaliwal

TL;DR: In this paper, the authors examined the relation between product market competition and accounting conservatism and found that the asymmetric timeliness of economic loss recognition increases with the intensity of market competition, and this relation is not qualitatively affected by the inclusion of various controls for the demand for accounting conservatism, in particular, managerial ownership.

TL;DR: In this paper, the authors investigate the equity valuation effects of the Pension Protection Act of 2006 (hereafter PPA 2006) and find that the valuation effect was more negative for firms with larger unfunded pension liabilities and larger capital expenditure requirements, while firms with higher marginal tax rates experienced a positive effect.

TL;DR: In this article, the authors examined the investment behavior of a sample of firms that disclosed internal control weaknesses under the Sarbanes-Oxley Act and found that prior to the disclosure, these firms under-invest (over-invest) when they are financially constrained (unconstrained).

TL;DR: In this paper, the authors investigate the equity valuation effects of the Pension Protection Act of 2006 (PPA 2006) and find that the valuation effect was more negative for firms with larger unfunded pension liabilities and larger capital expenditure requirements, while firms with higher marginal tax rates experienced a positive effect.

TL;DR: The authors found that investors place a lower value on an incremental dollar of cash when firms have higher levels of foreign cash holdings, and that this effect is associated with cash held in tax haven countries, but is not related to money held in countries subject to political instability, corruption, or weak legal protections.