ACKNOWLEGEMENTS: We thank Mark Beasley, Bruce Behn, Dana Hermanson, Jim
McKeown, Jane Mutchler, Zoe-Vonna Palmrose, Sean Peffer, Bob Ramsay, Dick Riley,
Dan Simunic, participants at a Boston College Accounting Research Workshop, two
anonymous referees, and Jerry Salamon (the former editor) for many helpful comments
and suggestions. We also thank Chris Daugherty and Michelle Keasler for research
assistance.