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作者：Xu, Nina
作者单位：University of Connecticut
摘要：This study examines whether and how media coverage improves price discovery before earnings announcements. Given the broad reach and timeliness of media coverage, understanding its role in forming earnings expectations is important. I posit that the media specialize in searching for and screening news, while institutional investors and financial analysts specialize in interpreting and integrating information. I expect these coordinated efforts to improve earnings expectations and preempt upcom...
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作者：Bochkay, Khrystyna; Brown, Stephen V.; Leone, Andrew J.; Tucker, Jennifer Wu
作者单位：Northwestern University; University of Connecticut; State University System of Florida; University of Florida; University of Miami
摘要：Natural language is a key form of business communication. Textual analysis is the application of natural language processing (NLP) to textual data for automated information extraction or measurement. We survey publications in top accounting journals and describe the trend and current state of textual analysis in accounting. We organize available NLP methods in a unified framework. Accounting researchers have often used textual analysis to measure disclosure sentiment, readability, and disclosu...
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作者：Garavaglia, Shannon
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：Using a mixed-methods approach, I investigate how the terms that firms use to label non-GAAP earnings interact with investors' scrutiny of non-GAAP reporting to affect investors' information search behavior and investment decisions. This study informs regulators, who have expressed concern over the mislabeling of non-GAAP measures, and managers, who are often criticized for their misuse of discretion in non-GAAP reporting. I first provide descriptive evidence on the non-GAAP labels used in pra...
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作者：Bens, Daniel; Liao, Scott; Su, Barbara
作者单位：INSEAD Business School; University of Toronto; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
摘要：We examine how regulatory restrictions on capital market activity affect the compensation contracting environment within firms. This study aims to expand our understanding of how financial market development affects firm risk-taking via management compensation designs. Specifically, taking advantage of the staggered implementation of the Interstate Banking and Branching Efficiency Act (IBBEA), which increases bank competition and loan geographical diversification, this study examines how borro...
