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  • December 2019
  • Case

WeWork Files for an IPO
By: Lynn S. Paine and Will Hurwitz
For the board of The We Company—better known as WeWork—August 14, 2019, promised to be a pivotal day. It was then that WeWork’s IPO prospectus, known as an S-1 filing, would be made public, giving potential investors, the media, and the general public a window into the...  View Details
Keywords: Capital Structure; Corporate Accountability; Corporate Governance; Going Public; Leadership; Management; Private Equity; Valuation; Venture Capital; Real Estate Industry; Technology Industry; United States
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  • September 2019
  • Article

The Effect of Enforcement Transparency: Evidence from SEC Comment-Letter Reviews
By: Miguel Duro, Jonas Heese and Gaizka Ormazabal
This paper studies the effect of the public disclosure of the Securities and Exchange Commission (SEC) comment-letter reviews (CLs) on firms’ financial reporting. We exploit a major change in the SEC’s disclosure policy: in 2004, the SEC decided to make its CLs...  View Details
Keywords: Disclosure; SEC Comment-Letter Reviews; Public Enforcement; Governance; Information Publishing; Policy; Financial Reporting; Capital Markets; Organizational Change and Adaptation
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  • Article

The Effect of Enforcement Transparency: Evidence from SEC Comment-Letter Reviews
By: Jonas Heese, Miguel Duro and Gaizka Ormazabal
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  • August 2017
  • Article

Is the SEC Captured? Evidence from Comment-Letter Reviews
By: Jonas Heese, Mozaffar Khan and Karthik Ramanna
SEC oversight of publicly listed firms ranges from comment letter (CL) reviews of firms’ reporting compliance to pursuing enforcement actions against violators. Prior literature finds that firm political connections (PC) negatively predict enforcement actions,...  View Details
Keywords: Comment Letters; Political Connections; Regulatory Capture; SEC Enforcement; Government Administration; Business and Government Relations; Government and Politics
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  • January 2017 (Revised January 2019)
  • Case

The Rise and Fall of Lehman Brothers
By: Stuart C. Gilson, Kristin Mugford and Sarah L. Abbott
With nearly $700 billion in assets, Lehman was the largest U.S. bankruptcy in history. In 2007, Lehman achieved record earnings of over $4 billion on revenues of $60 billion. By September 2008 the fourth largest investment bank in the world was bankrupt. How had a...  View Details
Keywords: Bankruptcy; Financial Distress; Accounting Policies; Business Ethics; Financial Reporting; Volatility; Judgments; Financial Crisis; Insolvency and Bankruptcy; Financial Liquidity; Investment Banking; Financial Management; Financial Strategy; Corporate Accountability; Corporate Disclosure; Corporate Governance; Crisis Management; Risk Management; Failure; Business and Government Relations; Ethics; Banking Industry; New York (city, NY)
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