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作者：Gaeremynck, Ann; Dekeyser, Simon; Bruynseels, Liesbeth; Van Peteghem, Mathijs
作者单位：KU Leuven; KU Leuven
摘要：In contrast to prior research that typically focuses on the characteristics of the audit committee (AC), we investigate how intergroup differences between the AC and the rest of the board (ROB) affect monitoring effectiveness. Drawing on group literature and the similarity attraction paradigm, we hypothesize that high intergroup differences between the AC and the ROB impede communication and information sharing. Poor fit between the AC and the ROB can lead to an us versus them mentality that r...
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作者：Peek, Erik; van Rinsum, Marcel; Stirnkorb, Sebastian
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of Illinois System; University of Illinois Urbana-Champaign
摘要：This study investigates the joint effects of investor status and locus of attribution on investors' judgments of management credibility. We study these effects in the context of an adverse event disclosure. Building on social identity and ultimate attribution error theory, we predict and find that under external attribution, current investors perceive management as more credible than prospective investors do. In contrast, we predict and find that investor status does not affect perceived manag...
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作者：Cheng, Lin; Cheng, Qiang; Weng, Liwei; Yan, Mark Yuzhi
作者单位：China Europe International Business School; Singapore Management University; Northeastern University; Hong Kong Baptist University
摘要：This study examines the impact of the presence of institutional dual-holders, whose portfolios hold both loans and equity securities of the same firms, on those firms' voluntary disclosures. Using mergers between institutional shareholders and lenders to the same firms as exogenous shocks to identify firms with institutional dual-holders that have high relative equity ownership, we document that such firms are less likely to provide management forecasts and disclose fewer voluntary 8-K items. ...
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作者：Schedlinsky, Ivo; Schmidt, Maximilian; Sommer, Friedrich; Woehrmann, Arnt
作者单位：University of Munich; University of Bayreuth
摘要：Although it has always been important for firms that employees innovate predefined processes, the working environment in which employees implement these processes has significantly changed. Currently, the working environment is often characterized by employee surveillance; that is, the way in which employees conduct a process is monitored. In the current study, we present the results of an experiment examining the effect of process monitoring on process improvements by employees. Although prev...
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作者：Robinson, Scott A.; Rogers, Jonathan L.; Skinner, A. Nicole; Wellman, Laura A.
作者单位：University of Oregon; University of Colorado System; University of Colorado Boulder
摘要：In this study, we examine whether environmental, social, and governance (ESG) funds' investment decisions are sensitive to the existence and extent of firms' voluntary environmental disclosures. We create our measures of voluntary environmental disclosure using bigrams extracted from the Global Reporting Initiative standards. We provide robust evidence that voluntary environmental disclosure in conference calls is associated with greater ESG fund ownership in the subsequent period, incremental...
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作者：Lada, Monika; Kozarkiewicz, Alina; Haslam, Jim; Kabalska, Agnieszka; Mueller, Frank
作者单位：Warsaw School of Economics; AGH University of Krakow; Durham University; University of Jordan
摘要：The study develops theorizing of external organizational communications that entail impression management. This includes developing linkages to Goffman's work and a Goffmanian research tradition. Our approach innovatively articulates dimensions of impression management entailing the presentation of others and nuanced practices of what we term organizational altercasting (OAC). Altercasting has been conceptualized in a Goffmanian tradition. OAC, seen as implicated in more developed organization...
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作者：Phang, Soon-Yeow; Dharmasiri, Prabashi; Puspitasari, Dani
作者单位：Monash University; Royal Melbourne Institute of Technology (RMIT)
摘要：When evaluating the potential financial effects of climate change, investors demand disclosures of the climate-related risks and opportunities that companies need to manage. We examine how and why management control over climate change performance affects investors' evaluations of such disclosures. In a series of experiments, we find that investors believe that managerial optimism is beneficial and, thus, are more willing to invest when climate-related disclosures focus on opportunities rather...
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作者：Si, Fangbo; Yu, Xiaoxu; Zhang, Huai
作者单位：Jinan University; Central University of Finance & Economics; Nanyang Technological University
摘要：Our study reveals that financial analysts issue more pessimistic forecasts for their investment banking clients' competitors than for unrelated firms. Our evidence is consistent with this behavior stemming from analysts' strategic incentives rather than their true beliefs. We find that analysts' pessimism for the client's competitors is more pronounced when the client is more important to analysts' brokerage houses, when high uncertainty prevents competitors from detecting analysts' strategic ...
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作者：Kang, Byoung Uk; Nam, Jonathan Sangwook
作者单位：Hong Kong Polytechnic University
摘要：This study examines the informational role of local newspapers in institutional investments. Exploring local newspaper closures across US counties, we document that institutional investors significantly reduce their holdings in firms located near the closed newspapers. The post-closure decrease in institutional holdings is concentrated for non-local or non-hedge fund institutions. In contrast, institutions that are likely to possess information advantages-local institutions or hedge funds-do n...
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作者：Hou, Fangfang; Ng, Jeffrey; Xu, Xinpeng; Zhang, Janus Jian
作者单位：Xiamen University; University of Hong Kong; Hong Kong Polytechnic University; Hong Kong Baptist University
摘要：Lenders are reluctant to finance firms' innovation activities because such activities tend to be opaque, with a high likelihood of negative outcomes that could hamper loan repayment. We posit that public credit registries (PCRs), which play an important role in credit information sharing in many countries, can facilitate financing by reducing adverse selection and moral hazard and increasing bank competition. Using the staggered establishment of PCRs in different countries and an international...
