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作者：Holzman, Eric R.; Miller, Brian P.; Williams, Brian M.
作者单位：University System of Ohio; Ohio State University; Indiana University System; Indiana University Bloomington
摘要：This study documents a spillover effect of accounting fraud by showing that after the revelation of accounting misconduct, there is an increase in financially motivated neighborhood crime (robberies, thefts, etc.) in the cities where these misconduct firms are located. We find that more visible accounting frauds (e.g., greater media attention and larger stock price declines) are more strongly associated with a future increase in financially motivated neighborhood crime. We also find that the a...
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作者：Allee, Kristian D.; Baik, Bok; Roh, Yongoh
作者单位：University of Arkansas System; University of Arkansas Fayetteville; Seoul National University (SNU); New York University
摘要：This study examines whether a real production activity measure, firm-level electricity consumption growth, is useful in detecting firm financial misreporting. Identifying proxies for a firm's underlying financial performance that are not a function of the firm's accounting system is essential for detection of misreporting. We propose that the difference between revenue growth and electricity consumption growth (i.e., growth wedge (GW)) is a useful signal of financial misreporting. Using electr...
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作者：Jang, Youngki; Yehuda, Nir
作者单位：University of Nebraska System; University of Delaware
摘要：We examine whether resource adjustment costs, such as installation and disposal costs for fixed assets, or hiring and firing costs for employees, impede value creation in mergers and acquisitions (M&A). We focus on M&A deals because they are major corporate investment decisions. As a proxy for adjustment costs, we use a firm-level measure of cost stickiness. We predict that acquirers with high adjustment costs have less flexibility in restructuring resources following the acquisition and will ...
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作者：Chang, Yen-Cheng; Huang, Minjie; Su, Yu-Siang; Tseng, Kevin
作者单位：National Taiwan University; University of Louisville; National Taiwan University
摘要：Bolton, Scheinkman, and Xiong (2006) model a setting where investors disagree and short-sales constraints cause pessimistic views of stock prices to be less influential, which leads to speculative stock prices. A theoretical implication of the model is that existing shareholders can exploit the speculative stock prices by (i) designing managerial compensation contracts that encourage short-term performance, and (ii) subsequently selling their shares to more optimistic investors. We document em...
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作者：Pinnuck, Matthew; Ranasinghe, Ajanee; Soderstrom, Naomi; Zhou, Joey
作者单位：University of Melbourne; Tilburg University
摘要：We provide the first direct analysis of the magnitude of unreliable quantitative information disclosed in corporate social responsibility (CSR) reports. CSR report reliability is of particular interest to fund managers for investment decisions as well as to policymakers for regulating and monitoring purposes. However, surprisingly little is known about CSR reporting reliability despite concerns raised in the prior literature. We examine how often CSR reports for the Global Fortune 250 (G250) a...
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作者：Overesch, Michael; Wolff, Hubertus
作者单位：University of Cologne
摘要：We analyze the effect of mandatory financial transparency on corporate tax avoidance. The effectiveness of comprehensive tax transparency, in the form of a public country-by-country reporting, to mitigate corporate tax planning is largely unknown. Capital Requirements Directive IV by the European Commission required multinational banks to publish key financial and tax data in the form of public country-by-country reporting. We examine tax avoidance of banks around the reform. Our focus is on m...
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作者：Brewster, Billy E.; Johanns, Alex J.; Peecher, Mark E.; Solomon, Ira
作者单位：Texas State University System; Texas State University San Marcos; University of Illinois System; University of Illinois Urbana-Champaign; Tulane University
摘要：The objective evaluation of evidence is imperative for audit effectiveness and the proper exercise of professional skepticism. However, numerous studies suggest that auditors fail to evaluate evidence objectively when assessing or addressing the risk of material misstatement due to fraud. We develop theory to predict that auditors do evaluate evidence objectively but only when they have stronger wise-thinking dispositions (WTDs), a construct that is new to the audit literature. We define WTDs ...
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作者：Griffith, Emily E.; Kadous, Kathryn; Young, Donald
作者单位：University of Wisconsin System; University of Wisconsin Madison; Emory University; Indiana University System; Indiana University Bloomington
摘要：Regulators and researchers provide evidence that auditors' judgment quality is problematic in complex audit tasks. We introduce a framework for improving auditor judgment in these tasks. The framework builds on dual-process theory to recognize that high-quality judgment in complex tasks requires that auditors (i) possess the knowledge needed for the task, (ii) recognize the need for analytical (versus heuristic) processing, and (iii) have sufficient cognitive capacity to complete the analytica...
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作者：Black, Dirk E.; Christensen, Theodore E.; Ciesielski, Jack T.; Whipple, Benjamin C.
作者单位：University of Nebraska System; University of Nebraska Lincoln; University System of Georgia; University of Georgia
摘要：We use a novel data set to examine the across-time consistency and across-firm comparability of firms' non-GAAP earnings disclosures. Given widespread concern about non-GAAP reporting among regulators, standard setters, the investor community, and academics, our investigation provides timely evidence on how managers' deviations from their own non-GAAP disclosure history, or the reporting of industry peers, affects how well earnings inform on firm performance. We begin by identifying firms that...
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作者：Paugam, Luc; Stolowy, Herve; Gendron, Yves
作者单位：Hautes Etudes Commerciales (HEC) Paris; Laval University
摘要：We investigate how activist short sellers (AShSs) expose publicly listed firms in an increasingly popular form of research reports openly denouncing alleged frauds, flawed business models, accounting irregularities, and wrongdoings. We focus on six AShSs that issued research reports that often led to a strong negative market reaction. Our empirical analysis exploits both qualitative and quantitative methods for a comprehensive data set of 383 research reports targeting 171 unique firms, and 3 ...
