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作者：Lee, Choonsik; Souther, Matthew E.
作者单位：University of Rhode Island; University of South Carolina System; University of South Carolina Columbia
摘要：Recent studies document the increasing effectiveness of shareholder voting as a monitoring mechanism. Because both directors and the market respond to shareholder votes, management has stronger incentives to influence voting outcomes. We identify one channel through which management can affect voting outcomes: increasing the turnout of (typically management-friendly) retail shareholders. Our study focuses on an observable managerial choice of how to deliver proxy materials to maximize retail t...
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作者：Besbes, Omar; Weintraub, Gabriel
作者单位：Columbia University; Stanford University
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作者：Basu, Riddha; Naughton, James P.
作者单位：George Washington University; University of Virginia
摘要：We examine whether the recognition versus disclosure of identical accounting information affects the credit rating process and ultimately corporate credit ratings. The primary input into corporate credit ratings is adjusted financial statements, which the rating agencies create by modifying reported financial statements to reflect credit-relevant items not recognized under U.S. Generally Accepted Accounting Principles. The rating agencies have claimed that this process means that accounting ch...
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作者：Kong, Lei
作者单位：University of Alabama System; University of Alabama Tuscaloosa
摘要：I study the impact of government spending on corporate innovation. Using changes in U.S. Senate committee chairmanships as a source of exogenous variation in state-level federal government expenditures, I find that firms headquartered in states with increases in government spending significantly reduce their innovation output, as measured by their number of patents and the citations to these patents. These reductions are mostly concentrated in labor-intensive industries, in firms headquartered...
