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作者：Gao, Pingyang
作者单位：University of Chicago
摘要：This paper examines the effects of idiosyncratic accounting information on a firm's cost of capital. By embedding a moral hazard problem into a multifirm asset-pricing model, I show that moral hazard distorts the sharing of idiosyncratic risk but does not affect the sharing of systematic risk in the economy. A firm-level improvement in idiosyncratic information reduces the firm's cost of capital even though it does not affect the implied cost of capital inferred from publicly traded shares. Mo...
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作者：Kallunki, Jenni; Kallunki, Juha-Pekka; Niemi, Lasse; Nilsson, Henrik
作者单位：University of Oulu; Aalto University; Stockholm School of Economics
摘要：This study examines the role of an individual auditor's cognitive ability in delivering high-quality audits. Our results from analyzing archival data from Sweden show that audit partners' IQ scores obtained from psychological tests are positively associated with going-concern audit reporting accuracy and audit fee premiums. We also find some, albeit weak, evidence that audit partners' IQ scores are negatively associated with the income-increasing abnormal accruals of the client. These results ...
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作者：Patterson, Evelyn R.; Smith, J. Reed; Tiras, Samuel L.
作者单位：Indiana University System; Indiana University Bloomington
摘要：Two distinct lines of research have been dedicated to empirically testing how financial reporting quality (measured as the earnings response coefficient or ERC) is associated with management's choice of reporting bias and with audit quality. However, researchers have yet to consider how ERCs are affected by either the auditor's reaction to changes in the manager's reporting bias or the manager's reaction to changes in audit quality. Our study provides theoretical guidance on these interrelatio...
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作者：Hopkins, Patrick E.
作者单位：Indiana University System; Indiana University Bloomington
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作者：Kerr, Jon N.
作者单位：University System of Ohio; Ohio State University
摘要：This study helps provide clarity to the prior mixed findings on the association between financial reporting transparency and tax avoidance by studying the effect that transparency has on tax avoidance in a cross-country sample through aggregate- and firm-level tests. Results using firm- and country-level (aggregate) measures of transparency and tax avoidance show that countries and firms with greater levels of transparency exhibit lower levels of tax avoidance and that the effect of country-le...
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作者：Chung, Hyeesoo (Sally) H.; Hillegeist, Stephen A.; Park, You-Il (Chris); Wynn, Jinyoung P.
作者单位：California State University System; California State University Long Beach; Arizona State University; Arizona State University-Tempe; Nanyang Technological University; University of Hawaii System; University of Hawaii Manoa; University of Louisiana System; Louisiana Technical University
摘要：This study examines the effect of capitalizing acquired in-process research and development (IPR&D) on information asymmetry under Statement of Financial Accounting Standards No. 141 (R) (SFAS 141R). SFAS 141R requires acquirers to fully recognize IPR&D at fair value as an indefinite-lived intangible asset until completion or discontinuation of the project. Prior research suggests IPR&D capitalization will result in an improvement in the information environment. In contrast, we find no evidenc...
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作者：Krische, Susan D.
作者单位：American University
摘要：This research examines how investment experience and financial literacy impact investment-related judgments. Financial literacy refers to a person's knowledge of fundamental financial concepts. I begin by documenting investors' demographic characteristics and financial literacy using a relatively large sample of participants (n > 2,000) recruited from Amazon's Mechanical Turk under different categories of investment experience, which I benchmark against national samples of financial capability...
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作者：Moon, James R., Jr.; Shipman, Jonathan E.; Swanquist, Quinn T.; Whited, Robert L.
作者单位：University System of Georgia; Georgia Institute of Technology
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作者：Chiu, Tzu-Ting; Kim, Jeong-Bon; Wang, Zheng
作者单位：Norwegian School of Economics (NHH); City University of Hong Kong; University of Waterloo
摘要：This study examines the effect of downstream firms' (i.e., customers') risk factor disclosures contained in annual reports on the investment efficiency of upstream firms (i.e., suppliers). We find that more informative disclosures of customers' risk factors are associated with less under- or overinvestment by suppliers. In addition, this inverse association is stronger when the suppliers are at a bargaining disadvantage, when they operate in the durable goods industries, and when they are more...
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作者：Vanstraelen, Ann
作者单位：Maastricht University
摘要：Kadous and Zhou (2018) investigate experimentally how intrinsic motivation improves auditor judgment in complex audit tasks. In my discussion, I elaborate on my comments from the 2016 CAR Conference. Specifically, I comment in the first part of my discussion on the motivation and contribution of the paper, the underlying theory, the experiment and the results. The second part of my discussion is focused on the broader picture of the paper for which I offer some thoughts based on cross-fertiliz...
