Mark H. Lang

TL;DR: This article examined whether application of IFRS by non-US firms results in accounting amounts comparable to those resulting from application of US GAAP by US firms, and found that firms that adopt IFRS mandatorily, firms in common law and high enforcement countries, and in more recent years, have greater accounting system and value relevance comparability with US firms when IFRS firms apply IFRS than when they applied domestic standards.

TL;DR: In this article, the authors investigate stock option exercise decisions by over 50,000 employees at seven corporations and find that employees exercise in response to stock price trends, and that exercise is positively related to stock returns during the preceding month and negatively related to returns over longer horizons.

TL;DR: The authors compare US firms' earnings with reconciled earnings for cross-listed non-US firms, and find that firms from countries with weaker investor protection show more evidence of earnings management, suggesting that SEC regulation does not supplant the effect of local environment.

TL;DR: In this article, the authors describe the exercise behavior of over 50,000 employees who hold long-term options on employer stock at eight corporations and find that employees typically exercise options years before expiration, commonly sacrificing half of the Black-Scholes value.

TL;DR: Lang et al. as mentioned in this paper used a sample of over 2,500 firms from 27 countries to investigate the relation between ownership structure, analyst following, investor protection and valuation, and found that analysts are less likely to follow firms with potential incentives to withhold or manipulate information.