3期

最新文章

• Does greater access to employees with information technology capability improve financial reporting quality? AI翻译
  作者：Abernathy, John L.; Klaus, Jan (J. ) Philipp; Le, Linh; Masli, Adi
  作者单位：University System of Georgia; Kennesaw State University; University of Texas System; University of Texas Arlington; University of Nebraska System; University of Nebraska Omaha; University of Kansas
  摘要：Although information technology (IT) plays an essential role in financial reporting, many companies today lack sufficient human capabilities to utilize IT competently. We examine the association between a firm's access to IT-capable labor and financial reporting quality (FRQ). We proxy for access to IT-capable labor using workforce measures in the metropolitan statistical area (MSA) where the firm operates, including (1) the number of IT-related college degrees relative to the total active wor...
• CEO career concerns in early tenure and corporate social responsibility reporting AI翻译
  作者：Chen, Long; Liao, Chih-Hsien; Tsang, Albert; Yu, Li
  作者单位：George Mason University; National Taiwan University; Southern University of Science & Technology; Nankai University
  摘要：The literature on corporate social responsibility (CSR) disclosure focuses on its economic consequences, but little is known about motivations-especially CEO personal incentives-behind such disclosure. Using an array of CSR reporting measures, we find that career concerns of CEOs early in their tenure motivate them to use voluntary CSR reporting as a signaling mechanism. The negative association between CEO tenure and CSR reporting is more pronounced in firms with stronger information intermed...
• Toward a general equilibrium theory of financial reporting AI翻译
  作者：Bertomeu, Jeremy; Cheynel, Edwige
  作者单位：Washington University (WUSTL)
  摘要：We present a model in which investment capacity is reallocated in response to aggregate shocks and examine the resulting general equilibrium effects. The theory predicts a positive association between aggregate liquidity shocks, cost of capital, and conservative accounting. When capital becomes scarce, the accounting system is designed to preserve collateral, which depletes the supply of traded capital and leads to a higher cost of capital. The economy may accelerate small shocks with large (d...
• Analyst workload and information production: Evidence from IPO assignments AI翻译
  作者：Pisciotta, Kevin
  作者单位：University of Kansas; University of Kansas
  摘要：I examine how changes in analysts' workloads affect their information production. Examining determinants of analysts' information production is important because analyst research affects stock prices and capital allocation decisions. Using periods when analysts work on IPOs to proxy for shocks to their workloads, I predict and find that the accuracy, quantity, and timeliness of analysts' forecasts for non-IPO firms decline when they are working on IPOs, and they herd closer to the consensus. T...
• The effect of US tax reform on the taxation of US firms' domestic and foreign earnings AI翻译
  作者：Dyreng, Scott D.; Gaertner, Fabio B.; Hoopes, Jeffrey L.; Vernon, Mary E.
  作者单位：Duke University; University of Wisconsin System; University of Wisconsin Madison; University of North Carolina; University of North Carolina Chapel Hill; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Duke University
  摘要：We quantify the immediate net effect of the Tax Cuts and Jobs Act (TCJA) on the tax burden of corporate profits for public US corporations. We find similar reductions in effective tax rates for domestic and multinational firms, yet the entirety of multinational tax savings stemmed from tax savings on their domestic, not foreign, earnings. We find no significant change in the federal tax burden on foreign earnings neither on average norspecifically for firms most likely to be subject to new ant...
• Throwing in the towel: What happens when analysts' recommendations go wrong? AI翻译
  作者：Lee, Kenneth; Aleksanyan, Mark; Harris, Elaine; Manochin, Melina
  作者单位：Loughborough University; University of Glasgow; Roehampton University; University of Birmingham; Loughborough University
  摘要：Every analyst will experience stock recommendation failures during their career. Unlike many other professions, these pivotal moments occur in the full glare of clients, colleagues, equity-sales teams, and the media. This research explores the practices of analysts up to and beyond the point where, faced with a failing recommendation, they contemplate throwing in the towel on their recommendation. Based on empirical evidence gathered from interviews with sell-side analysts and their key interl...
• Does credit default swap trading improve managerial learning from outsiders? AI翻译
  作者：Kim, Jeong-Bon; Wiedman, Christine; Zhu, Chunmei
  作者单位：City University of Hong Kong; University of Waterloo; Chinese University of Hong Kong
  摘要：We investigate whether credit default swap (CDS) trading results in managers learning new information through stock prices that is relevant to their investment and forecasting decisions. We argue that the CDS market structure, the sophistication of CDS market participants, and the cleanness of CDS spreads as a signal of default risk together produce and convey information that is new to managers of firms referenced in CDS contracts. We consider two measures for managerial learning: (1) the sen...
• The ICFR process: Perspectives of accounting executives at large public companies AI翻译
  作者：Maksymov, Eldar; Pickerd, Jeffrey; Wilks, T. Jeffrey; Williams, Devin
  作者单位：Arizona State University; Arizona State University-Tempe; University of Mississippi; Brigham Young University; University of Oklahoma System; University of Oklahoma - Norman
  摘要：The Sarbanes-Oxley Act charges management with the primary responsibility for internal control over financial reporting (ICFR). However, prior research tells us little about the ICFR process from management's perspective. We develop a theoretical model of the ICFR process from management's perspective and examine that model by surveying 145 and interviewing 35 accounting executives at large US public companies. Our primary finding is that executives feel constrained in their ability to direct ...
• Peer effects in subjective performance evaluation AI翻译
  作者：Cassar, Gavin; Ko, Taeho
  作者单位：INSEAD Business School; Hanyang University
  摘要：We investigate the influence of peer quality on subjective performance evaluation using 75,413 ratings of 130 employees from 6,908 raters in a business school setting. We find that subjective performance ratings are lower for employees with higher quality peer groups in both randomized and nonrandomized settings. Using a novel long-window setting, we observe peer effects persisting, but slowly decaying, for several months even when priming raters with the employees' previous performance inform...
• Technological peer pressure and skill specificity of job postings AI翻译
  作者：Cao, Yi; Cheng, Shijun; Tucker, Jennifer Wu; Wan, Chi
  作者单位：George Mason University; Shanghai Jiao Tong University; State University System of Florida; University of Florida; University of Massachusetts System; University of Massachusetts Boston
  摘要：Human capital is a major impetus for technological innovation. We examine the relation between the technological dimension of product market competition and the disclosure of skill requirements in job postings. On the one hand, technological competition may raise the urgency of recruiting tech talent and make firms provide more specific skill requirements. On the other hand, technological competition can increase the proprietary costs of skill requirement disclosure. Using technological peer p...