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Studies of Depression-era financial remediation have generally focused on federal deposit insurance and the provision of equity to banks by the Reconstruction Finance Corporation (RFC). This paper broadens the concept of financial remediation to include other programs – RFC lending, federal guarantees of farm and home mortgages, and the elimination of interest on demand deposits – and other intermediaries – savings and loans, mutual savings banks, and life insurance companies. The benefits of remediation or the amounts potentially at risk to the government in these programs are calculated annually and allocated to the various intermediaries. The slow remediation of real estate loans (two-thirds of these intermediaries' loans) needs further study with respect to the slow economic recovery. The paper compares Depression-era remediation with efforts during the 2008–2009 crisis. Today's remediation contrasts with the 1930s in its speed, magnitude relative to GDP or private sector nonfinancial debt, the share of remediation going to nonbanks, and emphasis on securities markets.

The purpose of this paper is to clarify issues related to the contemporary study of audiobook practices, in order to aid subsequent research on topics related to reading, digital audiobooks and streaming subscription services.

Using the concept of remediation, this paper covers four messy issues for audiobook researchers, primarily by developing the concept of reading by listening and then exploring the different remediations of the audiobook, clarifying the audiobook as a book and exploring the context of streaming subscription services.

Reading is here conceptualised according to the human sense used when making meaning from text, with reading by listening suggested for reading done with the help of the ears. Three different forms of remediation can be seen in subscription-based audiobooks, related to format, content and sense. Audiobooks simultaneously follow traditions of reading aloud, remediates the printed book and previous audiobook formats. It is suggested that the content is what makes an audiobook a book. The concepts library model and bookshop model are introduced to understand different audiobook subscription service models.

This is a research area on the rise with several messy issues and the concepts and clarifications in this paper may benefit future research.

The purpose of this paper is to examine the association between corporate governance attributes in the form of board and ownership characteristics and the remediation of internal control material weaknesses (ICMW) reported under Section 404 of the Sarbanes‐Oxley Act (SOX) of 2002.

The paper employs multivariate logistic regression models for a sample of 528 firms having ICMW as per their auditors' attestation reports during the fiscal periods of 2004, 2005 and 2006 to investigate the empirical relationships between board and ownership characteristics, and remediation of control weaknesses in subsequent fiscal years.

The board diligence, CEO‐independent board, and managerial, institutional and dominant shareholdings are all positively and significantly associated with the ICMW remediation of the sample firms in the presence of other firm‐specific variables in the analysis. The results also suggest that, in general, the ownership characteristics play a greater role in the firms' remediation action than the board‐related factors except board diligence. The separate sub‐sample tests demonstrate that board diligence and several stock ownership characteristics are positively and significantly associated with a firm's action to remediate both the systematic and non‐systematic internal control weaknesses though the results are more robust for non‐systematic control weaknesses.

A useful extension is to conduct a detailed analysis of the effect of audit committee characteristics in conjunction with board and ownership characteristics on firms' remediation action in a setting where ICMW firms take such action at a differential pace that may continue over two or more fiscal periods. Further, the present study examines the empirical associations between variables of interest, and does not, by virtue of its results, establish any cause‐and‐effect relationship between governance attributes and timeliness in ICMW remediation. Finally, this research can be extended to a detailed analysis of the types of systematic and non‐systematic control weaknesses, their probable effect on firms' financial reporting process and the role of corporate governance in timeliness of management's remediation action for different types of internal control problems.

The paper adds to the existing literature on corporate governance and financial reporting quality by documenting the association between a firm's board and ownership characteristics and management's immediate action to remediate internal control problems that ultimately impacts the quality of reported accounting information. The study complements prior studies on ICMW remediation and accrual quality by demonstrating that the effective monitoring by board and large, sophisticated shareholders as well as greater alignment of manager‐shareholder interests ensures more timeliness in remediation of internal control weaknesses and improves financial reporting quality.

This paper aims to investigate the stigma effect on property valuation/sale price for remediated residential leaky buildings constructed in New Zealand during the 1990s and 2000s. In particular, the authors want to know whether meeting the regulatory standards for remediation work will totally eliminate the negative stigma effect on remediated properties.

Property transaction data for remediated leaky homes are often limited and not well recorded. Thus, it is very difficult or even impossible to identify those remediated properties in a standard property transaction data set. Moreover, a vast amount of information regarding the nature of property defects, remediation process and method is very difficult to obtain. In this study, members of the Property Institute of New Zealand (PINZ) and the Real Estate Institute of New Zealand were invited to participate in an online website survey. The results were then analysed using the principal component analysis, ordinary least squares and multinomial logit regressions.

This study indicates that for monolithic-clad dwellings, the price discount due to leaky building stigma is significant. Depending on the severity of the leaking problems, this is about 11 per cent on average for general market stigma and an additional 5-10 per cent for post-remediation stigma. The results highlight that meeting the regulatory standards for remediation work cannot totally eliminate the negative stigma effect on remediated properties. The findings are in line with the lemon theory introduced by Akerlof (1970) and robust to individual characteristics of the survey respondent.

General market stigma has been widely researched and documented in the literature. In contrast, there is a lack of research as to whether remediation will eliminate stigma, particularly in the presence of general market stigma. The authors are the first to show that post-remediation stigma can cause value loss in addition to general market stigma based on the lemon theory proposed by Akerlof (1970).

The purpose of this paper is to examine the association between pervasiveness, severity, and remediation of internal control material weakness (ICMW) reported by the SEC registrants pursuant to SOX Section 404 and audit fees.

The paper employs multivariate regression models for a sample of 854 firms that disclosed ICMW for the first time in 2004, 2005, or 2006, to investigate the empirical relationship of pervasiveness and severity of ICMW and its subsequent remediation with audit fees.

The analyses demonstrate that audit fees are significantly positively related to the severity (and pervasiveness) of ICMW in the years of ICMW disclosures and are significantly negatively related to the remediation of internal control weaknesses in the years when ICMW remediation took place. The test results further demonstrate that the remediation of systematic control weaknesses has a greater effect on reduction of audit fees compared to the remediation of nonsystematic (transaction/account related) control weaknesses, though the remediation of both systematic and nonsystematic control weaknesses is accompanied by audit fee declines.

The study produces evidence on pricing audit services by incumbent auditors in response to the severity of internal material control weaknesses and their remediation in subsequent fiscal periods. Its results shed light on certain new aspects of audit fee determinants in the post‐SOX period by virtue of their implications that the pervasiveness and severity of internal control problems induce auditors to make an upward fee adjustment while their remediation has a moderating effect on pricing audit services.

The study's finding is a useful addition to the existing fee literature and is relevant for the post‐SOX world which experienced a structural change in financial accounting and auditing environment.

We investigate the effect of the PCAOB’s Part II report on annually inspected firms’ audit fees and audit quality. The PCAOB replaced the peer review auditor program with an independent inspection of audit firms. Upon completion of each inspection, the PCAOB issued inspection reports that include a public portion (Part I) of identified audit deficiencies, and (in most cases) a nonpublic portion (Part II) of identified quality control weaknesses. The Part II report is only made public when the PCAOB deems that remediation was insuffcient after at least 12 months have passed. Starting around the time of the 2007 Deloitte censure (Boone et al., 2015), the PCAOB shifted from a soft synergistic approach to an antagonistic approach, such that Part II reports were imminent, despite delays that ultimately led to their release one to four years later than expected. Our study spans the period from 2007 to 2015, and examines the effect on audit fees and audit quality at the earliest date that the Part II report could have been released – 12 months after the Part I report was issued. We find that following the 12 month period, that annually inspected audit firms eventually lost reputation by lower audit fees, while they concurrently made remedial efforts to increase the quality of their client’s financial reporting quality (abnormal accruals magnitude and restatements). However, three years after the Part II report was actually released, audit fees increased.

The purpose of the paper is to examine the association between the corporate ownership characteristics and the timely remediation of internal control weaknesses over financial reporting under Section 404 of the Sarbanes‐Oxley Act (SOX) of 2002.

The paper employs both ordered and binary logistic regression models for a sample of 695 US firms who reported internal control weaknesses for the first time, pursuant to SOX Section 404, and evaluates the impact of the stock ownership characteristics on the timeliness in remediation of their control weaknesses.

The test results show that the corporate ownership characteristics, as a part of governance mechanism, play an incrementally critical role to influence firms' decisions to promptly remediate their internal control problems and improve the reliability of financial information. In addition, it was also found that a corporate board independent of its CEO is effective in monitoring timely remediation of control problems. Sub‐sample analyses for the company‐level and account‐specific internal control weaknesses produce similar results in support of the effect of corporate stock ownership characteristics on the timely remediation of internal control weaknesses.

First, the paper adds to the literature by demonstrating the incremental effect of the stock ownership characteristics on a firm's timeliness in remediation of control weaknesses, even after controlling the effect of audit committee and board characteristics in the analysis. Second, the paper shows that even in the post‐SOX years with enhanced regulatory oversight in corporate affairs, the effect of corporate ownership attributes as a part of governance is incrementally observable in a situation that calls for prompt managerial action to ensure the reliability of financial information. Third, for the first time, the study makes a separate detailed analysis on the association between the stock ownership attributes and the remediation of company‐level and account‐specific control weaknesses. The results provide valuable insights into the ownership governance effect on the remediation of the two types of control weaknesses that have different rigor, auditability (more or less auditable), and effects (pervasive or non‐pervasive) on financial reporting quality. Fourth, the study further enhances one's understanding of several important governance factors that help achieve a sound financial reporting system and restore investors' confidence in the system.

US citizens who attend international medical schools (US IMGs) are more likely to be of Hispanic, Black American, or Asian descent compared to US medical students. As physicians, US IMGs contribute diversity to the health-care workforce; their experiences and perspectives have improved the health outcomes for populations typically underserved. To become a competent medical professional is a challenging experience, especially for IMGs who may have entered medical school with less than optimal academic histories. During this journey, some students develop academic and clinical deficiencies. Addressing these deficits through remediation interventions are critical to the student’s performance as a physician. This study measured the resiliency, self-efficacy, and self-compassion of IMGs who completed remediation while in medical school. Results indicate older students experienced failure more often and were found to have significantly higher levels of self-compassion compared to younger students. Males were assigned significantly more remedial interventions compared to the female participants. Finally, strong positive correlations suggested that the more remediation interventions students were provided, the more likely they were satisfied with their overall remediation experience. These findings indicate that by varying support strategies and encouraging student’s orientation to resiliency, self-efficacy, and self-compassion may assist them in overcoming their deficits.

Agencies responsible for remediation and long-term stewardship of areas with chemical and radiological contamination are feeling the pressure to increase public participation in decision-making. Much of the literature outlining advice for how best to involve the public in collaborative decision-making implicitly assumes that there is one best design for such processes.

We report on an empirical investigation into what participants in a process to establish a standard for remediation of plutonium in soil around the Rocky Flats facility near Denver, Colorado think about the most appropriate way to conduct such a decision-making process with public participation. Tapping subjective beliefs and preferences with an approach called Q methodology, we collected in-depth qualitative and quantitative data from 12 experienced participants and agency staff. Analysis of these data revealed three distinct perspectives on what would be the ideal decision-making process for this context. Two of the perspectives emphasized the need to link remediation and stewardship planning, while the third was characterized by the view that these are distinct, sequential activities.

Planners should assume that there may be multiple ideas about what is the most appropriate public participation process for a given situation. Continuing disagreement about the need to link remediation and stewardship can be reflected in disputes about process design. Success should be viewed as a function not only of the design features used but also the extent to which the design matches the needs and preferences of the participants.

The purpose of this paper is to examine the determinants of internal control weakness remediation revealed under Sarbanes‐Oxley (SOX) section 404 reporting requirements.

Data on firms that reported internal control weaknesses for fiscal year 2004 are collected, and determined whether these weaknesses still existed in their 2005 filings. Logistic regression is used to examine the impact of corporate governance, resource, impediments (e.g. severity of weakness), and Big 4 auditor status on remediation completion.

Resources (e.g. size, ROA) were positively associated with remediation. Use of Big 4 auditor, more audit committee meetings, more business segments, and filing lag were negatively associated with remediation, as were number and type of internal control weaknesses.

First, the paper sheds light on the individual firm factors that influence corporate response to the legal and social (e.g. public pressure) environment facing firms. Understanding this should better enable policy makers and regulators to foresee where potential lags in firm implementation of regulations may occur, and why. Second, it believes that the paper also sheds light on the relative value of different corporate governance structures in meeting investor concerns for proper stewardship of their investments. Finally, this paper provides information of use to other corporate governance researchers in that the results suggest the overwhelming importance of the legal and social environment in influencing corporate behavior. However, this paper does not address the contribution of national culture, financial and audit‐related reporting requirements, and differences in firm resources, to corporate behavior.

The paper deepens the field's understanding of the determinants of internal control weakness remediation, furthering regulators' understanding of SOX's impact.