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作者：Hou, Fangfang; Mengistu, Muhabie Mekonnen; Ng, Jeffrey; Zhang, Janus Jian
作者单位：Xiamen University; University of Wollongong; University of Hong Kong; Hong Kong Baptist University
摘要：Credit information sharing allows creditors to obtain borrowers' relevant credit information, and it can improve borrowers' investment outcomes that are funded by debt. Using reforms to European countries' public credit registries (PCRs) to capture mandated information sharing among creditors, we examine the impact of such sharing on firms' investment efficiency. We find that information sharing enhances firms' investment efficiency, which we measure by their investment-q sensitivity. This fin...
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作者：Donahue, Stephanie; Malsch, Bertrand
作者单位：Laval University; Queens University - Canada
摘要：The objective of this research is to better understand experts' contributions to the prospective evaluation of a new audit standard-in this case, key audit matter (KAM) reporting. To this end, we assisted the Canadian Auditing and Assurance Standards Board by leading its consultation of 22 expert financial statement users. The methodology employed to observe our participants' opinions and cognitive processes involves thought protocol and interviews. By analyzing the rhetorical base of experts'...
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作者：Judge, Sarah; Goodson, Brian M.; Stefaniak, Chad M.
作者单位：Indiana University System; Indiana University Bloomington; Clemson University; University of South Carolina System; University of South Carolina Columbia; University of South Carolina System; University of South Carolina Columbia
摘要：In 2017, the PCAOB began requiring audit firm tenure disclosure within the audit report for SEC registrant clients. Many commenters raised the concern that prominent disclosure of firm tenure would lead investors to inappropriately infer a negative relation between audit quality and long tenure. This is particularly troubling given that empirical evidence generally does not support this concern. In our first experiment, we predict and find that disclosing an audit firm's long tenure within the...
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作者：Cowx, Mary; Kerr, Jon N.
作者单位：Arizona State University; Arizona State University-Tempe; Brigham Young University
摘要：The general anti-avoidance rule, or GAAR, is an enforcement mechanism that gives a country's taxing authority broad power to deny a taxpayer tax benefits associated with any transaction. Although GAARs are becoming increasingly common, the presence of a GAAR is generally overlooked by researchers and thus has been left unstudied. In this paper, we provide an initial investigation by studying the effect of GAARs on firm-level corporate tax avoidance behaviors. Using an indicator for the enactme...
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作者：Drujon d'Astros, Caecilia; Morales, Jeremy; Leca, Bernard
作者单位：University of Bristol; ESSEC Business School
摘要：This paper studies accounting and silence. Building on studies of accounting talk and introducing theories of silencing, we highlight the role of accounting silences in the production of engaging organizational conversations. Through a qualitative case study, we identify three forms of silence-the unspeakable, the unsaid, and the inaudible-and their links to accounting. Silences create motivations to engage in further accounting talk, but they also deny certain groups a voice in those conversa...
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作者：Chen, Shenglan; Ma, Hui; Wu, Qiang; Zhang, Hao
作者单位：Zhejiang University of Technology; Zhejiang University of Technology; Shanghai University of Finance & Economics; Hong Kong Polytechnic University; Rochester Institute of Technology; Rochester Institute of Technology
摘要：This paper presents new evidence on the economic benefits arising from common institutional ownership. We find a negative and significant effect of common institutional ownership on stock price crash risk. This effect is robust to a battery of robustness checks and is causal according to some identification tests, including difference-in-differences analyses on financial institution mergers. We find evidence that the negative effect is attributable to the monitoring role of common institutiona...
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作者：Han, Yuqi; Mao, Connie X.; Tan, Hongping; Zhang, Chi
作者单位：Wenzhou-Kean University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; McGill University; University of Massachusetts System; University of Massachusetts Lowell; McGill University
摘要：Using a sample of 30,270 forecasts by 2,280 analysts under a stacked difference-in-differences framework involving 22 major climatic disasters in the United States, we examine the effect of climatic disasters on information production by security analysts, who play a crucial role in the financial market as information intermediaries. We find that earnings forecasts by analysts who experienced a major climatic disaster become less accurate than those by unaffected analysts within 3 months after...
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作者：Lee, Sam (Sunghan); Matsunaga, Steven R.; Oh, Peter (Seung Hwan); Hong, Hyun A.
作者单位：Iowa State University; University of Oregon; McGill University; University of California System; University of California Riverside; University of Oregon
摘要：We investigate whether a larger CEO employment network provides access to information that improves firms' earnings forecasts and find a significantly positive relation between CEO employment network size and management earnings forecast accuracy. Our results suggest that firms use information obtained from CEO contacts to increase the accuracy of their earnings forecasts. Our conclusion is further supported by evidence of positive associations between CEO employment network size and the likel...
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作者：Goldman, Nathan; Lampenius, Niklas; Radhakrishnan, Suresh; Stenzel, Arthur; Feres de Almeida, Jose Elias
作者单位：North Carolina State University; University Hohenheim; University of Texas System; University of Texas Dallas; Norwegian School of Economics (NHH); Universidade Federal do Espirito Santo
摘要：The IRS administers tax laws enacted by Congress. As part of the IRS's duties, they often consider taxpayers' financial statements to help ensure accurate tax reporting and payments. We posit that enhanced financial statement disclosures of tax information under FASB Interpretation Number 48 (FIN 48) lead to more IRS scrutiny and alter the incentives for corporate innovation. Using patent applications as a measure of corporate innovation, we employ a difference-in-differences research design w...
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作者：Patterson, Evelyn R.; Smith, J. Reed; Tiras, Samuel L.
作者单位：Indiana University System; Indiana University Indianapolis; IU Kelley School of Business
摘要：Since the passage of the Sarbanes-Oxley Act of 2002, many notable frauds have been tied to ineffective audit committee (AC) oversight. As a result, AC oversight is of continuing interest, and regulators continue to debate this issue, garnering a growing body of research focused on the role played by the AC. But little theoretical research exists to guide analytical and empirical researchers investigating AC oversight. The purpose of this study is to provide theoretical guidance by examining AC...
