The Local Spillover Effect of Corporate Accounting Misconduct: Evidence from City Crime Rates*
成果类型：
Article
署名作者：
Holzman, Eric R.; Miller, Brian P.; Williams, Brian M.
署名单位：
University System of Ohio; Ohio State University; Indiana University System; Indiana University Bloomington
刊物名称：
CONTEMPORARY ACCOUNTING RESEARCH
ISSN/ISSBN：
0823-9150
DOI：
10.1111/1911-3846.12659
发表日期：
2021
页码：
1542-1580
关键词：
摘要：
This study documents a spillover effect of accounting fraud by showing that after the revelation of accounting misconduct, there is an increase in financially motivated neighborhood crime (robberies, thefts, etc.) in the cities where these misconduct firms are located. We find that more visible accounting frauds (e.g., greater media attention and larger stock price declines) are more strongly associated with a future increase in financially motivated neighborhood crime. We also find that the association between fraud revelation and increased future financially motivated crime is strongest when local job markets are shallower and where local income inequality is high, consistent with adverse shocks from fraud putting pressure on local communities. Combined, our study provides evidence that the societal ramifications of corporate accounting misconduct extend beyond adversely impacting a firm's capital providers and industry peers to negatively influence the daily life of the residents in the firm's local community.
来源URL：