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作者：Austin, Chelsea Rae; Schmitt, Donna Bobek; Seifert, Spenser G.
作者单位：University of South Carolina System; University of South Carolina Columbia; University of Bern
摘要：Prior research has established that tax liability increases lead to decreased compliance. However, tax liability changes do not happen in a vacuum. Notably, prior research has also identified a withholding phenomenon: individuals in a tax due position are less compliant than those in a refund position. Additionally, tax law changes are often enacted in politically polarized environments. We examine how three factors-tax liability changes, withholding position, and group affiliation-combine to ...
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作者：Chen, Xia; Jia, Ning; Wang, Dan
作者单位：Singapore Management University; Tsinghua University; University of International Business & Economics
摘要：Given the importance of research resource allocation within brokerage firms, we examine key factors that influence the issuance of individual versus team analyst reports. Using a comprehensive sample of analyst reports from China for the 2008-2021 period, we find that this decision is influenced by (1) the brokerage firm's client interests, whereby firms held by the brokerage firm's mutual fund clients and firms that are the brokerage firm's underwriting clients receive more team than individu...
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作者：Gutierrez, Elizabeth; Minutti-Meza, Miguel; Tatum, Kay W.; Vulcheva, Maria
作者单位：Universidad de Chile; University of Miami; State University System of Florida; Florida International University
摘要：The United Kingdom mandated expanded audit reports in two waves, starting in 2013 and 2017, respectively. Prior studies of the first wave, which included large and highly regulated companies, concluded that expanded reports have limited incremental value. We focus on the second wave, which included companies listed on the Alternative Investment Market (AIM). The AIM is characterized by emerging companies that are smaller, riskier, and subject to lighter regulatory requirements and to private m...
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作者：D'Lima, Rohan; Rava, Ariel; Subasi, Musa
作者单位：NEOMA Business School; Yeshiva University; University System of Maryland; University of Maryland College Park
摘要：We examine whether foreign national directors (FNDs) on US corporate boards help their firms mitigate the adverse effects of economic policy uncertainty (EPU) shocks originating from the directors' home countries. Using a comprehensive data set of US manufacturing firms' international supply chain relationships from 2003 to 2019, we find that EPU spikes in supplier countries lead to significant declines in aggregate US imports as well as in buyer firms' inventory purchases, sales, and market v...
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作者：Ahn, Sang; Hyun, Jeong-Hoon; Koga, Kentaro; Shin, Jae Yong
作者单位：University of San Francisco; Chung Ang University; Nagoya University of Commerce & Business; Seoul National University (SNU)
摘要：This study examines the association between firm performance and promotion incentives (i.e., the product of vertical pay disparity and promotion probability) in multilayer corporate tournaments using a unique data set of Korean public firms. We dissect the corporate tournament into layers and separately examine their association with firm performance while also accounting for the role of promotion probability. We find that (1) upper-layer, rather than lower-layer, tournaments are the main driv...
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作者：Ma, Zhiming; Stice, Derrald; Stice, Han; Zhang, Yue
作者单位：Peking University; University of Hong Kong; George Mason University; Central University of Finance & Economics
摘要：We examine changes in bank loan contracts after borrowers experience a nearby local newspaper closure. Compared to a sample of control firms, we find that the closure of a local newspaper leads to higher interest spreads for borrowers. This effect is more pronounced when there are fewer related lenders in the syndicate, when lenders have less prior lending experience in the local area, when the closed local newspapers are associated with increases in misconduct cases, and for institutional len...
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作者：Samet, Jordan; Schuhmacher, Karl; Towry, Kristy L.; Zureich, Jacob
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; Emory University; Lehigh University
摘要：Reciprocity plays a critical role in the way employees respond to managerial control decisions. The current consensus is that employees punish managers for implementing unkind controls (negative reciprocity) more than they reward managers for implementing kind controls (positive reciprocity). We challenge this consensus. Prior research focuses on settings that emphasize employees' immediate reciprocal responses. However, in the workplace, employees often respond over long periods of time to st...
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作者：Charnock, Robert J.
摘要：As early as 2015, financial regulators were developing disclosure frameworks aimed at enabling capital markets to price climate risks. Yet the literature on sustainability disclosure offers little insight into how regulatory agendas change, instead focusing on how nongovernmental organizations drive voluntary disclosure. To address this deficiency, this paper charts how financial regulators came to embrace climate risk, analyzing how an array of non-state initiatives became coordinated in high...
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作者：Sealy, Chezham (Chez) L.; Simon, Chad A.
作者单位：University of Alabama System; University of Alabama Tuscaloosa; Utah System of Higher Education; Utah State University
摘要：Financial reporting fraud continues to cost companies millions of dollars annually and is a major source of concern for regulators, stakeholders, and auditors. While academic research has largely focused on external auditors' fraud detection efforts, we analyze whether auditors can help prevent occurrences of fraud through low-cost reputational signals of higher strategic reasoning; strategic reasoning refers to strategies that individuals take in light of the anticipated actions of others (se...
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作者：Ai, Xi; Myers, Linda A.; Schmardebeck, Roy
作者单位：University of Louisville; University of Tennessee System; University of Tennessee Knoxville
摘要：Prior research documents that mergers and acquisitions result in significant financial reporting risks. In this article, we examine whether acquirers that share a common auditor with the target experience higher post-acquisition financial reporting quality (FRQ) and reduced audit fees. We find that same-office, but not different-office, common auditors are associated with improved post-acquisition FRQ, as evidenced by a decreased likelihood of misstatement, lower F-score, and a lower likelihoo...
