The author appreciates the guidance and support of the dissertation committee: Hans Christensen (chair), Steven Kaplan, Mark Maffett, and Delphine Samuels. The author thanks Philip Berger, Stefano Cascino, Hans Christensen, Anna Costello, John Donovan, João Granja, June Huang, Andy Imdieke, Steven Kaplan, Sinja Leonelli, Christian Leuz, Mark Maffett, Mike Minnis, Maximilian Muhn, Thomas Rauter, Delphine Samuels, Carol Seregni, Gurpal Sran, Christopher Stewart, Ira Weiss, and participants at Bocconi University, INSEAD, KU Leuven, Rotterdam School of Business, University of Amsterdam, University of California Riverside, the University of Chicago, and University of Notre Dame for helpful comments and insights; Maggie Li and Ziyi (Angela) Chen for excellent research assistance; and the Chookaszian Accounting Reseach Center and University of Chicago Booth School of Business for research funding support. All errors are my own.