Please join me in congratulating Jessie Watkins, whose paper, “Consequences of Prescribed Disclosure Timeliness: Evidence from Acceleration of the Form 8-K Filing Deadline,” has been accepted for publication at The Accounting Review. 

 Abstract:

I investigate capital market consequences of an increase in prescribed timeliness of firms’ mandatory disclosure of material events. Specifically, I examine an SEC regulatory change that accelerates the Form 8-K filing deadline and classify 8-Ks as likely to be constrained or unconstrained by the increase in prescribed timeliness. After the regulatory change, firms filing constrained 8-Ks exhibit increases in information asymmetry between investors and investor disagreement at the 8-K filing date relative to firms filing unconstrained 8-Ks. Moreover, the relative increases in information asymmetry and investor disagreement for firms filing constrained 8-Ks appear to be attributable to a decline in the length of and quantitative information included in 8-K disclosure. My findings shed light on the costs of a prescriptive approach to enhanced disclosure timeliness of ongoing disclosure.

Congratulations, Jessie! Well done!