Study preregistration promotes transparency in scientific research by making a clear distinction between a priori and post hoc procedures or analyses. Management and applied psychology have not embraced preregistration in the way other closely related social science fields have. There may be concerns that preregistration does not add value and prevents exploratory data analyses. Using a mixed-method approach, in Study 1, we compared published preregistered samples against published non-preregistered samples. We found that preregistration effectively facilitated more transparent reporting based on criteria (i.e., confirmed hypotheses and a priori analysis plans). Moreover, consistent with concerns that the published literature contains elevated type I error rates, preregistered samples had fewer statistically significant results (48%) than non-preregistered samples (66%). To learn about the perceived advantages, disadvantages, and misconceptions of study preregistration, in Study 2, we surveyed authors of preregistered studies and authors who had never preregistered a study. Participants in both samples had positive inclinations towards preregistration yet expressed concerns about the process. We conclude with a review of best practices for management and applied psychology stakeholders.