Regulating the Timing of Disclosure: Insights from the Acceleration of 10-K Filing Deadlines

43 Pages Posted: 8 Jan 2013 Last revised: 28 Dec 2013

See all articles by Lisa Kutcher

Lisa Kutcher

Colorado State University, Fort Collins - Department of Accounting

Emma Y. Peng

Fordham University - Accounting Area

David P. Weber

University of Connecticut - Department of Accounting

Multiple version iconThere are 2 versions of this paper

Date Written: December 1, 2012

Abstract

We study the effects of regulating the timing of disclosure on the quality of accounting information, using a 2003 U.S. regulatory change that accelerates 10-K filing deadlines as a research setting. Employing a difference-in-differences design, we find that the likelihood of issuing financial statements that are later restated increases for firms that are required to file more quickly, relative to firms whose filing practices are not affected by the regulatory change. This effect is particularly pronounced during the audit busy season, when auditors also face significant time pressure. These results are consistent with a tradeoff between how quickly accounting reports are required to be filed and the reliability of the resulting reports.

Keywords: disclosure regulation, SEC filings, financial reporting quality, misstatements

JEL Classification: M41, M45, G14, G18, G38, K22

Suggested Citation

Kutcher, Lisa and Peng, Emma Y. and Weber, David P., Regulating the Timing of Disclosure: Insights from the Acceleration of 10-K Filing Deadlines (December 1, 2012). Journal of Accounting and Public Policy, Vol. 32 No. 6, November - December 2013, Fordham University Schools of Business Research Paper, Available at SSRN: https://ssrn.com/abstract=2197391

Lisa Kutcher (Contact Author)

Colorado State University, Fort Collins - Department of Accounting ( email )

Rockwell Hall
Fort Collins, CO 80523
United States

Emma Y. Peng

Fordham University - Accounting Area ( email )

1790 Broadway, 13th FL
New York, NY 10019
United States

David P. Weber

University of Connecticut - Department of Accounting ( email )

School of Business
Storrs, CT 06269-2041
United States

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
222
Abstract Views
1,784
Rank
133,313
PlumX Metrics