2期

最新文章

• Controlling Shareholders' Tax Incentives and Classification Shifting* AI翻译
  作者：Chung, Heesun; Choi, Sunhwa; Jung, Woon-Oh
  作者单位：Sejong University; Seoul National University (SNU)
  摘要：Although prior studies provide evidence on the financial reporting incentives to inflate core earnings through classification shifting (e.g., shifting core expenses to income-decreasing noncore items), few examine the tax-related incentive to report lower core earnings through classification shifting. We examine the effect of controlling shareholders' tax incentives on firms' classification shifting using the introduction of a tax law in Korea that imposes a gift tax on controlling shareholder...
• Corporate Governance and Earnings Management: Evidence from Shareholder Proposals* AI翻译
  作者：Fan, Zhongwen; Radhakrishnan, Suresh; Zhang, Yuan
  作者单位：University of Hong Kong; University of Texas System; University of Texas Dallas
  摘要：We examine the causal effects of corporate governance on earnings management using shareholder-sponsored proposals that pass or fail by a small margin of votes in annual shareholder meetings. This setting provides a causal estimate that overcomes concerns of endogeneity. Specifically, compared with firms whose shareholder proposals fall just short of a majority threshold, firms whose shareholder proposals narrowly pass have similar characteristics but a discretely higher likelihood of implemen...
• Generalist CEOs and Credit Ratings* AI翻译
  作者：Ma, Zhiming; Ruan, Lufei; Wang, Danye; Zhang, Haiyan
  作者单位：Peking University; California State University System; San Francisco State University; New York University; Tsinghua University
  摘要：A recent trend is that firms prefer to hire generalist CEOs with transferable skills (across firms or industries) over hiring specialist CEOs, but the consequences of this trend are unclear. In this study, we examine whether credit rating agencies consider a CEO's general skills as a credit risk factor when assessing an entity's overall creditworthiness. We predict and find that generalist CEOs are associated with lower credit ratings, suggesting that the presence of generalist CEOs is a signi...
• CFO Effort and Public Firms' Financial Information Environment* AI翻译
  作者：Biggerstaff, Lee E.; Cicero, David C.; Goldie, Brad; Reid, Lauren C.
  作者单位：University System of Ohio; Miami University; Auburn University System; Auburn University; Wake Forest University
  摘要：We test the association between CFO effort and the quality of public firms' financial information environments. We evaluate this relation using a measure of CFO leisure consumption-specifically, the amount of golf played-as an inverse proxy for effort. We find a negative relation between CFOs' compensation incentives and golf play, suggesting they exert more effort when they have greater incentives to increase firm value. High CFO leisure consumption is associated with lower earnings quality, ...
• Do Political Connections Induce More or Less Opportunistic Financial Reporting? Evidence from Close Elections Involving SEC-Influential Politicians* AI翻译
  作者：Jennings, Ross; Kartapanis, Antonis; Yu, Yong
  作者单位：University of Texas System; University of Texas Austin; Texas A&M University System; Texas A&M University College Station
  摘要：This study explores close US congressional elections involving politicians who have influence over the SEC to examine the effect of firms' political connections on their financial reporting. This question is important in understanding the overall effect of political connections on financial reporting. Our difference-in-differences tests reveal no evidence that firms experiencing a relative increase in political connections report more opportunistically after close elections in anticipation of ...
• Is the Tone of Risk Disclosures in MD&As Relevant to Debt Markets? Evidence from the Pricing of Credit Default Swaps* AI翻译
  作者：Wang, Ke
  作者单位：University of Alberta
  摘要：This paper examines whether the tone of corporate textual disclosures related to risk and uncertainty conveys relevant information to the credit default swap (CDS) market. Prior studies largely focus on the amount of risk disclosures and provide inconclusive evidence on the usefulness of risk disclosures for investors in assessing firm risk. Using a large sample of textual risk disclosures in the Management's Discussion and Analysis (MD&A) section of 10-K and 10-Q filings, I predict and find t...
• Fostering Enabling Perceptions of Management Controls during Post-acquisition Integration* AI翻译
  作者：Vaisanen, Marjo; Tessier, Sophie; Jarvinen, Janne T.
  作者单位：University of Oulu; Universite de Montreal; HEC Montreal
  摘要：The purpose of this paper is to increase our understanding of how enabling perceptions of new management controls (MCs) can be fostered. Prior research suggests that employees are more likely to use new MCs if they perceive them as enabling. However, rapid implementation of new MCs due to circumstances such as mergers and acquisitions can leave employees feeling coerced into using them, making it difficult to foster enabling perceptions. Based on a case study where an acquirer faces pressure t...
• Archival Evidence on the Audit Process: Determinants and Consequences of Interim Effort* AI翻译
  作者：Christensen, Brant E.; Newton, Nathan J.; Wilkins, Michael S.
  作者单位：University of Oklahoma System; University of Oklahoma - Norman; State University System of Florida; Florida State University; University of Kansas
  摘要：Using proprietary data from a global accounting firm, we investigate the determinants of auditors' interim effort as well as the impact of interim effort on audit quality, client disclosure timeliness, audit hours, and audit fees. Public statements from accounting firms and regulators suggest various benefits from accelerating auditor effort, but these claims remain largely untested. We find that interim effort is higher for large, complex clients that require integrated audits of both financi...
• What Is a Good Rank? The Effort and Performance Effects of Adding Performance Category Labels to Relative Performance Information* AI翻译
  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...
• Internal Control over Financial Reporting and Resource Extraction: Evidence from China* AI翻译
  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...