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最新文章

• Preventing fraudulent financial reporting with reputational signals of strategic auditors AI翻译
  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...
• Talking down the competitors: How do investment banking relationships influence analysts' forecasts? AI翻译
  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 ...
• CEO (in)activism and investor decisions AI翻译
  作者：Durney, Michael T.; Johnson, Joseph A.; Sinha, Roshan K.; Young, Donald
  作者单位：University of Iowa; University of South Carolina System; University of South Carolina Columbia; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
  摘要：Many CEOs engage in activism by publicly expressing their views on social, environmental, and political issues, while other CEOs refrain from doing so-a behavior we term CEO inactivism. We use two experiments to examine how CEO (in)activism impacts investor decisions. Our results are consistent with our theoretical predictions. When a CEO expresses an activist position that is consistent versus inconsistent with investors' views, investors invest more in the CEO's firm because they perceive th...
• The moderating role of reporting quality AI翻译
  作者：Cuny, Christine; Dube, Svenja
  作者单位：New York University; City University of New York (CUNY) System; Baruch College (CUNY)
  摘要：This paper examines whether the sensitivity of local government credit ratings to external signals about the local economy varies with the quality of the governments' financial reports. We find the credit ratings of local governments that are required to comply with GAAP are less sensitive to changes in local home values than similarly affected governments that are not required to comply with GAAP. Further, we show that GAAP's moderating role increased after Governmental Accounting Standards B...
• The impact of the classified voting system on corporate investment and equity value AI翻译
  作者：Jin, Qinglu; Wu, Sirui
  作者单位：Shanghai University of Finance & Economics; Xi'an Jiaotong University
  摘要：Granting decision rights to minority shareholders protects them from expropriation by controlling shareholders, but it simultaneously fosters a mismatch between decision rights and decision-relevant information. Using the setting of China's classified voting system (CVS), which requires minority shareholder approval for managerial proposals, this study investigates the effect of such a regulation on investment responsiveness to profitability and equity value attributable to growth options. Fol...
• Do donors value volunteer commitment in assessing nonprofit effectiveness? AI翻译
  作者：Beck, Amanda W.; Garven, Sarah A.; Yetman, Michelle Higgins
  作者单位：University System of Georgia; Georgia State University; Middle Tennessee State University; University of California System; University of California Davis
  摘要：Evaluating organizational effectiveness is a significant challenge for nonprofit donors making donation allocation decisions. Donations may be misallocated if organizational effectiveness is inadequately assessed, and donors, who are often organizational outsiders, rely on nonprofit disclosures on IRS Form 990 to make such assessments. We examine whether donors value volunteer commitment, as measured by the number of volunteers that nonprofits disclose on Form 990, alongside financial and gove...
• Endogeneity and the economic consequences of tax avoidance AI翻译
  作者：Dyreng, Scott D.; Hills, Robert W.; Lewellen, Christina M.; Lindsey, Bradley P.
  作者单位：Duke University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; North Carolina State University; Utah System of Higher Education; Utah State University
  摘要：Academic research investigating the economic consequences of tax avoidance is almost always interested in the consequences of intentional, deliberate actions undertaken to reduce taxes relative to income. Therefore, it is crucial that such research distinguishes between intentional and incidental tax avoidance, since failure to do so can create endogeneity concerns and lead to incomplete and incorrect economic inferences. In this paper, we first develop a framework that conceptually defines an...
• A narrative analysis of the justifications and excuses of serious employee fraud offenders AI翻译
  作者：Andon, Paul; Free, Clinton
  作者单位：University of New South Wales Sydney; University of Sydney
  摘要：Most fraud research in accounting has focused on controls rather than offenders' subjective experience, meaning that our understanding of motive in fraud (defined as linguistic devices employed to justify, interpret, or excuse actions) remains underexplored. This is particularly the case for employee fraud, which has been largely neglected relative to top management fraud or financial statement fraud. To provide a richer understanding of how fraud offenders make sense of their offending, we in...
• No comment: Language frictions and the IASB's due process AI翻译
  作者：Flores, Eduardo; Monsen, Brian R.; Shafron, Emily; Yust, Christopher G.
  作者单位：Universidade de Sao Paulo; University System of Ohio; Ohio State University; Texas A&M University System; Texas A&M University College Station
  摘要：The IASB asserts that global stakeholder participation in the standard-setting process is critical for developing and maintaining high-quality accounting standards. However, the myriad languages used in countries that apply IFRS may impede this participation. We find that the IASB is less likely to receive comment letters from stakeholders in countries with languages that are linguistically distant from English. We also find that comment letters from more linguistically distant stakeholders ar...
• Disclosure spillover from going-private activity AI翻译
  作者：Hinson, Lisa A.; Piao, Zhenhao (Jeffery)
  作者单位：State University System of Florida; University of Florida; University of Missouri System; University of Missouri Columbia
  摘要：Public firms that go private are no longer subject to SEC financial reporting requirements. This study examines peer firms' disclosure responses following the lost information spillover from going-private events. We first support the lost information transfer, finding evidence that analyst forecasts of peers' earnings are less accurate and more disperse and that peer liquidity is lower immediately following going-private transactions. In response, industry peers increase disclosure quality in ...