Out of the initial sample of 303 restating firms identified from news reports, 216 firms are listed on Standard & Poor’s Compustat database. Out of those, we were able to find a control firm for 185 For each of these 185 restating firms, we tried to obtain detailed information on the nature and characteristics of the restatement by reading the relevant SEC filings (Forms 10K, 10K-A, 10Q, and 10Q-A). For 10 firms, despite the initial news reports, we could not find any indication of a restatement in these filings. We omitted these 10 cases, which left us with a sample of 175 firms. Of these 175.
