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作者：Ke, Ruihao; Li, Meng; Zhang, Yuan
作者单位：Southern Methodist University; University of Texas System; University of Texas Dallas
摘要：Boards of directors play their role in corporate governance by advising and/or monitoring managers. In the corporate disclosure literature, prior research has documented directors' monitoring role, yet empirical evidence on directors' advising role is limited. Since the advising role often entails information transfer, we examine directors who concurrently serve as directors or executives in the firms' related industries (DRIs) and hence possess valuable information about the firms' external o...
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作者：Dhaliwal, Dan; Michas, Paul N.; Naiker, Vic; Sharma, Divesh
作者单位：University of Arizona; University of Melbourne; University System of Georgia; Kennesaw State University
摘要：In this study, we predict and provide evidence that distressed firms that rely more heavily on major customers for sales have a comparatively higher incidence of receiving going-concern opinions (GCOs). Moreover, we find that the effect of increased reliance on major customers is driven by firms that are more distressed. We also theorize that variations in key characteristics of the relationship between a distressed firm and its largest major customer are incrementally linked to GCOs, and pres...
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作者：McGuire, Sean T.; Neuman, Stevanie S.; Rice, Sarah C.
作者单位：Texas A&M University System; Texas A&M University College Station; University of Missouri System; University of Missouri Columbia
摘要：This study examines whether the volatility of interim estimates of the annual effective tax rate (ETR) provides ex ante information about the quality of firms' internal control environments. Recent research suggests that some firms selectively disclose internal control weaknesses (ICWs). Given the negative consequences associated with ICWs, it is important for capital market participants to be able to identify firms with ineffective internal controls in a timely manner. We find that firms with...
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作者：Christensen, Peter O.; Frimor, Hans; Sabac, Florin
作者单位：Copenhagen Business School; University of Southern Denmark; University of Alberta
摘要：Both soft, noncontractible, and hard, contractible, information are informative about managerial ability and future firm performance. If a manager's future compensation depends on expectations of ability or future performance, then the manager has implicit incentives to affect the information. We examine the real incentive effects of soft information in a dynamic agency with limited commitment. When long-term contracts are renegotiated, the rewards for future performance inherent in long-term ...
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作者：Do, Truc (Peter) Thuc; Zhang, Huai
作者单位：University of Queensland; Nanyang Technological University
摘要：We hypothesize that the arrival of star analysts improves the performance of incumbent financial analysts, while the departure of star analysts has the opposite effect. Our results consistent with this hypothesis are concentrated primarily in the tests related to star arrivals. Our findings are robust to an instrumental variable approach and a falsification test. In addition, we hypothesize that the impact of the arrival/departure of star analysts is more pronounced when the star analyst cover...
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作者：Krishnan, Ranjani; Mani, Deepa
作者单位：Michigan State University; Indian School of Business (ISB)
摘要：In strategic outsourcing contracts, a substantial portion of implementation occurs at the client's premises and requires integration of effort between the vendor and the client. Compensation design in such contracts involves trade-offs between the higher (lower) incentive properties of fixed-price (cost-plus) contracts and their higher (lower) ex ante contracting and ex post adaptation costs. Uncertainty influences these trade-offs and affects compensation design. We explore the compensation i...
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作者：Gassen, Joachim; Skaife, Hollis A.; Veenman, David
作者单位：Humboldt University of Berlin; University of California System; University of California Davis; University of Amsterdam
摘要：This paper demonstrates that measures of stock price synchronicity based on market model R(2)s are predictably biased downward as a result of stock illiquidity, and that previously employed remedies to correct market model betas for measurement bias do not fix R-2. Using a large international sample of firm-years, we find strong negative and nonlinear relations between illiquidity and R-2 across countries, across firms, and over time. Because variables of interest frequently relate to illiquid...
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作者：Griffith, Emily E.
作者单位：University of Wisconsin System; University of Wisconsin Madison
摘要：Auditors frequently use valuation specialists to help them evaluate fair values, but researchers and regulators know little about how auditors use these specialists. Based on interviews with 28 auditors and 14 valuation specialists, I develop a theoretical framework informed by expert systems and professional competition theories. The interviews suggest that institutional pressures in the fair value environment unevenly impact auditors and specialists, causing tension between auditors' needs f...
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作者：Free, Clinton; Radcliffe, Vaughan S.; Spence, Crawford; Stein, Mitchell J.
作者单位：University of New South Wales Sydney; Western University (University of Western Ontario); University of London; King's College London
摘要：Previous research has highlighted the crucial roles that accounting plays in both the construction and development of the state. However, only limited attention has been paid to how accounting is both conceived and implemented as a technology of government. Taking a historical perspective, and through extensive archival analysis of the Canadian experience, we explore here the ways in which accounting practices were significantly expanded and elaborated over time. Progressively, accounting was ...
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作者：Guiral, Andres; Moon, Doocheol; Tan, Hun-Tong; Yu, Yao
作者单位：Yonsei University; Nanyang Technological University; University of Massachusetts System; University of Massachusetts Amherst
摘要：Recent research finds that investors' assessments of a stock's fundamental value are influenced by corporate social responsibility (CSR) performance through the affect-as-information heuristic. We extend prior research by examining two boundary conditions for the use of this heuristic: (i) whether the CSR performance relates to activities that are integrated in a firm's core business practices (material CSR issues) or not (immaterial CSR issues), and (ii) whether the CSR performance is positiv...
