Author: Publisher:
ISBN:
Category : Environmental impact analysis
Languages : en
Pages : 622
Book Description
Vegetation Management in the Appalachian Mountains: Comment letters and responses
Author: Publisher:
ISBN:
Category : Environmental impact analysis
Languages : en
Pages : 622
Book Description
Vegetation Management in the Ozark/Ouachita Mountains: Comment letters and responses
Author: The Readability of Company Responses to SEC Comment Letters and SEC 10-K Filing Review Outcomes
Author: Cory A. CassellPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
An emerging literature shows that shareholders benefit from the Securities and Exchange Commission's (SEC) filing reviews in terms of improved disclosures and reduced information asymmetry. However, these reviews also impose significant costs on companies because comment letter remediation diverts time and resources away from normal operations and may result in restated or amended filings. Applying processing fluency theory, we examine whether the readability of the company's initial response to an SEC comment letter is associated with the likelihood of unfavorable outcomes from the review. We find that less readable company responses are associated with longer SEC response times and a greater likelihood that the company restates or amends a reviewed filing. Because the company response is preceded by a specific request for information from the SEC (i.e., a prompt), our setting allows for an improved ability to disentangle the effects of disclosure readability from the effects of disclosure content.
Lower Colorado River Multi-Species Conservation Program: Responses to comments on LCR MSCP volumes I-IV
Author: Is the Character of SEC Comment Letters Relevant to Recipients?
Author: Jordan RippyPublisher:
ISBN:
Category :
Languages : en
Pages : 206
Book Description
Prior research has provided mixed results regarding changes in firm behavior in response to comment letters from the Securities and Exchange Commission (SEC) (Johnston and Petacchi 2016; Kubick, Mayberry, Omer, and Lynch 2016; Robinson, Xue, and Yu 2011; Wang 2016). This study documents that comment letters come in two main categories: accounting-focused letters and disclosure-focused letters. I examine whether the character of comment letters (accounting versus disclosure) impacts a firm's response to comment letters questioning the allowance for doubtful accounts (AFDA). I find that firms with abnormal accruals in the AFDA are more likely to receive an accounting-focused comment letter and these firms are also more likely to constrain AFDA-related earnings management behaviors in the period after comment letter resolution. Disclosure-focused comment letters exhibit no such patterns. The results of this study suggest (1) the lack of consistent findings in prior research may be partially attributable to homogenously classifying dissimilar comment letters and (2) the SEC filing review and comment letter process may be an effective tool in monitoring and constraining earnings management behaviors.
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