2期

最新文章

• Investor reactions to climate change disclosures: Joint effects of disclosure focus and controllability AI翻译
  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...
• Credit information sharing and firm innovation: Evidence from the establishment of public credit registries AI翻译
  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...
• How do hedge fund activists use and affect financial reporting of income taxes? Evidence from the valuation allowance for deferred tax assets AI翻译
  作者：Cowx, Mary; Glenn, Jennifer L.; Kielty, Patrick; Mcguire, Sean T.
  作者单位：Arizona State University; Arizona State University-Tempe; University System of Ohio; Ohio State University; Texas A&M University System; Texas A&M University College Station; Mays Business School
  摘要：This study uses valuation allowances (VAs) for deferred tax assets to examine whether hedge fund activists (HFAs) use and affect financial reporting of income taxes. Specifically, we investigate whether HFAs target firms with VAs and whether target firms are more likely to release VAs post-intervention. We find that the existence, magnitude, and increases in VAs increase the marginal probability that HFAs will target a firm by between 12% and 24%. We also find that target firms are 4.6% more l...
• Bogging down investors: An unintended consequence of litigation risk AI翻译
  作者：Fu, Siwen; Wang, Ke; Zhang, Liandong; Zheng, Liu
  作者单位：Chinese Academy of Sciences; University of Science & Technology of China, CAS; University of Alberta; Singapore Management University; City University of Hong Kong
  摘要：Securities litigation risk is a well-recognized yet underexplored source of financial reporting complexity or unreadability. This study examines the effect of litigation risk on the readability of corporate financial reports. The 1999 Silicon Graphics Inc. (SGI) court ruling unexpectedly reduced litigation risk for firms within the Ninth Circuit Court's jurisdiction. Using a difference-in-differences design centered on the SGI court ruling, we find that, while the readability of financial repo...
• Can we explain managerial non-answers during conference call Q&As? AI翻译
  作者：Bamber, Matthew; Nappert, Pier-Luc
  作者单位：York University - Canada; Laval University
  摘要：Management teams often avoid answering questions during conference call question and answer sessions (Q&As). Viewing this as an information asymmetry issue, accounting scholars have suggested that this behavior is ill-advised and that non-answers signal to investors the suppression of bad news. In this article, we demonstrate that this argument lacks nuance. Instead, we argue that answers and non-answers necessarily coexist and are codependent. Our contribution stems from our social interactio...
• Is professional exam performance associated with career success for Big 4 auditors? Evidence on gender differences AI翻译
  作者：Fredriksson, Antti; Hay, David; Karjalainen, Jukka; Maghakyan, Arpine; Niemi, Lasse
  作者单位：University of Turku; University of Auckland; Aalto University; University of Eastern Finland; University of Glasgow
  摘要：This study examines whether better performance on the Certified Public Accountant (CPA) exam is associated with an auditor's career success and whether any relation differs based on gender. Our study adds to prior studies on the career development of auditors by showing that the auditor's performance on the exam predicts success during the auditor's career. Although there is little difference in the average CPA exam scores of male versus female auditors, we document gender differences in the r...
• Federal judge ideology and the going-concern reporting incentives of Big 4 and non-Big 4 auditors AI翻译
  作者：Gu, Tracy; Hui, Kai Wai; Jiang, Yingzhen; Simunic, Dan A.
  作者单位：University of Hong Kong; University of Macau; Simon Fraser University; University of British Columbia
  摘要：We analyze whether and how the perceived federal-level legal liability linked to federal judge ideology is associated with the likelihood of firms receiving going-concern modified audit opinions and analyze the differential effects on Big 4 and non-Big 4 auditors. We find that Big 4 and non-Big 4 auditors converge in their going-concern reporting decisions in circuits with more liberal judges. This convergence is caused by the greater effect of judge ideology on non-Big 4 auditors. Furthermore...
• Determinants of and future violations following deferred prosecution and non-prosecution agreements in corporate criminal cases AI翻译
  作者：De Franco, Gus; Small, R. Christopher; Wahid, Aida Sijamic
  作者单位：Purdue University System; Purdue University; University of Houston System; University of Houston; University of Toronto
  摘要：The US Department of Justice's increasing use of deferred prosecution and non-prosecution agreements (D/NPAs) over the past two decades has sparked debate about their merits compared with traditional plea deals, which often result in criminal convictions. This study examines the factors influencing prosecutors' decisions to use D/NPAs in disciplining firms for corporate misconduct. We analyze whether the likelihood of a firm's future misconduct varies by the type of discipline imposed, compari...
• Governmentality, counter-conduct, and modes of governing: Accounting and the pursuit of municipal sustainable waste management AI翻译
  作者：Ahrens, Thomas; Ferry, Laurence
  作者单位：United Arab Emirates University; Durham University; Rutgers University System; Rutgers University New Brunswick
  摘要：Recent research into the uses of accounting as a technology of government has used Foucault's notion of counter-conduct to shed light on various ways in which the governed can seek to alter the regimes to which they are subjected. This paper unpacks the notion of counter-conduct further in order to develop a clearer conceptualization of how regimes of government can change over time, with or without clearly identifiable attempts by the governed to influence such changes. We develop our argumen...
• How do institutional investors facilitate reporting comparability? Evidence from common institutional ownership in the United States AI翻译
  作者：Li, Xuanbo; Lou, Yun; Wang, Rencheng; Zhou, Kaitang
  作者单位：City University of Hong Kong; Singapore Management University; Wuhan University
  摘要：We examine how common institutional investors (CIIs) facilitate the financial reporting comparability (FRC) of US firms. Common ownership increases FRC of firms that are directly owned by CIIs (via a direct effect) and has positive spillover effects on other firms in the same industry. We find spillover effects in two types of firms: (1) those that are commonly owned by different institutional investors but are connected through common firms, and (2) those that do not have any common ownership...