Declarations of interest: None. This paper is based on Z. Leitter’s dissertation, completed at The University of Texas at Austin, where it benefited from the thoughtful guidance of committee members Susan Broniarczyk, Eric Hirst, and Ross Jennings. The authors are also grateful to Ranjani Krishnan (department editor), an anonymous associate editor, two anonymous reviewers, Eric Chan, Shana Clor-Proell, Jeff Hales, David Harrison, Steve Kachelmeier, John McInnis, Lil Mills, and Hun Tong Tan as well as participants at the 2016 Financial Accounting Standards Advisory Council meeting, the 2016 Financial Accounting Standards Board PhD conference, the 2019 American Accounting Association’s Financial Accounting and Reporting Section Midyear Meeting, and the 2021 Tri-Uni Accounting Research Conference (Singapore) as well as workshop participants at Nanyang Technological University, Georgia Tech, Humboldt University (Berlin), University of Bern, and The University of Texas at Austin for their insightful comments. The authors thank Asabé Danpollo, Pianpian Huang, Rui Silva, and Sreekrishnan Venkatasubramanian for their research assistance.
