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作者：Hillegeist, Stephen A.; Weng, Liwei
作者单位：Arizona State University; Arizona State University-Tempe; Hong Kong Polytechnic University
摘要：Understanding the association between quasi-indexer ownership and insider trading is important given the externalities that insider trading can impose on shareholders, the importance of quasi-indexers in the capital markets, and their mixed monitoring incentives. The prior literature has produced an inconsistent set of results regarding this association. These results are difficult to interpret because the association between them is likely endogenous, and prior studies have not employed effec...
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作者：Kubick, Thomas R.; Lockhart, G. Brandon; Robinson, John R.
作者单位：University of Nebraska System; University of Nebraska Lincoln; Clemson University; Texas A&M University System; Texas A&M University College Station
摘要：We use changes in mandatory pension funding to investigate the relation between internal financing constraints and incremental investment. Pension funding relief enacted in 2012 significantly reduced mandatory employer contributions to defined benefit pension plans. Prior to learning of the pension relief, firms disclosed their expected pension contributions under FAS 132R, which allows us to infer changes in investment plans in response to this unanticipated pension relief. Although our setti...
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作者：Knauer, Thorsten; Sommer, Friedrich; Woehrmann, Arnt
作者单位：Ruhr University Bochum; University of Bayreuth
摘要：Prior research demonstrates that relative performance information affects effort and performance. However, little is known about the qualitative design parameters of these information systems. This study examines, via an experiment, how adding performance category labels to ranks (e.g., good ranking position and poor ranking position) affects effort and performance. Furthermore, we investigate the effort and performance effects of two design choices observed in practice: the type of performanc...
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作者：Porumb, Vlad-Andrei; Zengin-Karaibrahimoglu, Yasemin; Lobo, Gerald J.; Hooghiemstra, Reggy; De Waard, Dick
作者单位：University of Groningen; University of Houston System; University of Houston
摘要：Starting in October 2013, auditors of premium-listed firms in the United Kingdom are mandated to prepare an expanded auditor's report that provides details on audit procedures, risks of material misstatement (RMMs), and materiality thresholds. This regulatory change is important to study, because it aims to increase the informational value of the traditional, highly standardized, pass-or-fail auditor's report. We examine whether the disclosures in the expanded auditor's report provide informat...
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作者：Ge, Weili; Li, Zining; Liu, Qiliang; McVay, Sarah
作者单位：University of Washington; University of Washington Seattle; Loyola Marymount University; Jiangxi University of Finance & Economics
摘要：We examine whether the strength of internal control over financial reporting (internal control) reduces the expropriation of resources from the firm by managers and controlling shareholders. Although we have ample evidence from prior literature that internal controls reduce errors in financial reports, it is less clear that they can curb resource extraction, because management may fail to enforce these controls. Exploiting the setting of China, where we have a rich internal control data set an...
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作者：Fang, Xiaohua; Pittman, Jeffrey; Zhao, Yuping
作者单位：State University System of Florida; Florida Atlantic University; Memorial University Newfoundland; University of Houston System; University of Houston
摘要：Prior research documents that information transmitted via director networks affects firms' policies and real economic activities. Given a manager's potential monopoly over firm information, it is important to analyze whether information transmission through director social networks undermines the manager's control. Specifically, we explore whether information flow through director networks influences managers' ability to hoard bad news. We predict and find that the extent of external connectio...
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作者：Chen, Xia; Cheng, Qiang; Chow, Travis; Liu, Yanju
作者单位：Singapore Management University; University of Hong Kong; Hong Kong Baptist University
摘要：In-house human capital tax investment is a significant input to a firm's tax decisions. Yet, due to the lack of data on corporate in-house tax departments, there is little empirical evidence on how tax departments are associated with tax planning and compliance outcomes. We expect the size of tax departments to be positively associated with the effectiveness of tax planning and compliance. Using hand-collected data on the number of corporate tax employees in S&P 1500 firms over the 2009-2014 p...
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作者：Haesebrouck, Katlijn
作者单位：Maastricht University
摘要：Within the context of managerial reporting, the tasks of acquiring and reporting information are logically connected. Although the accounting literature acknowledges their importance, it often treats these tasks as distinct processes. I investigate how the effort exerted to acquire information influences managers' reporting. Managers' information acquisition effort can induce psychological ownership that can lead to a sense of deservingness that increases opportunistic reporting or to a sense ...
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作者：Ege, Matthew; Kim, Young Hoon; Wang, Dechun
作者单位：Texas A&M University System; Texas A&M University College Station; George Mason University
摘要：This study investigates whether PCAOB inspections of foreign auditors affect global financial reporting comparability. Foreign auditors may adjust audit methodologies to address PCAOB inspection findings, which could affect financial reporting of local clients. Exploiting both within- and cross-country variation in PCAOB inspections, we predict and find that non-US-listed foreign companies' financial reporting becomes more comparable to their US and non-US industry peers after their auditors u...
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作者：Brochet, Francois; Ferri, Fabrizio; Miller, Gregory S.
作者单位：Boston University; University of Miami; University of Michigan System; University of Michigan
摘要：Motivated by the increasing influence of shareholder votes on corporate policies, we examine investors' perceptions of activism via voting. To identify instances of activism via voting, we focus on annual meetings with at least one ballot item where a substantial fraction of shareholders is expected to vote against management's voting recommendation, indicating an increase in their monitoring activity. We define such meetings as contentious. Using a sample of almost 28,000 meetings between 200...
