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ABV AVE ATENTION
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An indicator variable set equal to one if ATTENTION in year t is greater than the average three-month downloads of year t-1.
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ATTENTION
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The amount of IRS downloads for the three-month window following a restatement in the restatement year and in all other firm-years.
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BIG R
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An indicator variable equal to one if the company issues a 4.02 8-K revision, zero otherwise.
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BTD
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Pretax income (PI) minus current domestic and foreign tax expense (TXFED + TXFO) grossed up by 35%, scaled by assets (AT).
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CAPITAL INTENSITY
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Net property, plant, and equipment (PPENT) divided by lagged total assets (AT).
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CASH
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Cash holdings (CH) scaled by lagged total assets (AT).
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CASH ETR
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Taxes paid (TXPD) divided by pretax book income net of special items (PI-SPI).
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DTA
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Net deferred tax assets (TXNDBA) scaled by total assets (AT).
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DTL
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Net deferred tax liabilities (TXNDBL) scaled by total assets (AT).
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ERRORS
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An indicator variable set equal to one in which a restatement is attributable to an error and zero otherwise.
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F-SCORE
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We first calculate the predicted value (PV) of an accounting misstatement following model 1 of Panel A of Table 7 of Dechow et al. (2011). The probability of misstatement is then calculated as PR = ePV/(1 + ePV). Finally, F-SCORE =PR/0.0037.
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FORMS
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The total number of new filings for firm i of month m available for download on EDGAR.
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FRAUD
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An indicator variable set equal to one during the restatement windows attributable to fraud and zero otherwise.
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GAAP ETR
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Total tax expense (TXT) divided by pretax book income net of special items (PI-SPI).
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ICW
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An indicator variable set equal to one for firm-year observations that disclose a material weakness and zero otherwise.
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ICW TOTAL
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The total number of material weakness disclosed by a firm for a given firm-year observation.
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INTANGIBLE INTENSITY
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Intangible assets (INTAN) divided by lagged total assets (AT); missing values set equal to zero.
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INVENTORY INTENSITY
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Inventory (INVT) divided by lagged total assets (AT).
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IRS AUDIT REF
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An indicator equal to one if the firm referred to a tax audit in its 10-K and zero otherwise
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IRS DOWNLOAD BREADTH
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The number of downloads of unique accession numbers by IP addresses belonging to the IRS during month m of year t for firm i.
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IRS DOWNLOAD TYPE
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The number of downloads of the different form types by IP addresses belonging to the IRS during month m of year t for firm i.
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IRS DOWNLOADS
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The total number of downloads made by IP addresses belonging to the IRS during month m of year t for firm i.
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LENGTH
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Measured as the length of time it takes the IRS to download one public filing of a restating firm following a press release or media article covering the restatement
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LEV
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Long-term debt (DLTT) divided by lagged total assets (AT).
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MTB
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Number of shares outstanding at the end of the year multiplied by the price per share at year end divided by book value of equity (PRCC_F*CSHO/CEQ).
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MNE
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An indicator variable set equal to one if a firm is not missing pre-tax foreign income (PIFO), indicating a multinational firm.
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NOL CHANGE
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Change in the tax loss carryforward (TLCF) divided by total assets (AT).
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R&D INTENSITY
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R&D expense (XRD) divided by sales (SALE); missing values set equal to zero.
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RESTATE
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An indicator variable equal to one for all firm-month or firm-year observations with a restatement and zero otherwise.
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ROA
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Pretax book income (PI) divided by total assets (AT).
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SALES GROWTH
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The change is sales (SALE) scaled by the prior year.
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SETTLE
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Measured as the aggregate amount of settlements made by a firm from years t + 1 to t + 4 and to t + 5 scaled by year end UTBs (TXTUBEN).
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SIZE
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The log of total assets (AT) as of the end of the year.
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SPEED
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Measured as the number of days it takes the IRS to download the form announcing a restatement.
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UTB
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Year-end UTBs (TXTUBEN) divided by total assets (AT).
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10-K
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An indicator variable equal to one if a 10-K is released during the month.
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10-Q
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An indicator variable equal to one if a 10-Q is released during the month.
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FORMS
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The total number of new forms available for download for firm i during each month m over our entire sample period.
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