The study examines how the SEC monitors companies that voluntarily file with the SEC despite being exempt from mandatory registration. Using 117,557 firm-years (3,125 voluntary; 114,432 mandatory) and 41,572 comment-letter conversations from 2005–2021, it tests whether voluntary filers receive the same scrutiny as mandatory filers and whether oversight affects reporting quality.
Feeling inspired? Share these insights on social.
Gain Access
