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作者：Baloria, Vishal P.; Marquardt, Carol A.; Wiedman, Christine I.
作者单位：Boston College; City University of New York (CUNY) System; Baruch College (CUNY); University of Waterloo
摘要：We evaluate the net costs and benefits of the whistleblower (WB) provisions adopted under the Dodd-Frank Reform Act of 2010 by examining investor responses to events related to the proposed regulations. We focus our main analysis on a sample of firms that lobbied against implementation of the WB provisions by submitting a comment letter to the SEC. Lobbying firms are characterized by weaker existing WB programs and greater degrees of managerial entrenchment than a matched control sample of sim...
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作者：De Waegenaere, Anja; Sansing, Richard C.; Wielhouwer, Jacco L.
作者单位：Tilburg University; Tilburg University; Vrije Universiteit Amsterdam
摘要：We investigate the economic effects of capitalizing development costs during a race between two firms to discover and develop a new technology. Winning the race requires success in the research stage and success in the development stage. Development costs are expensed in some settings, but capitalized in others. Capitalization of development costs provides a credible signal regarding progress in the race, allowing the rival to make a more informed decision regarding whether to proceed with dev...
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作者：Lai, Karen M. Y.; Srinidhi, Bin; Gul, Ferdinand A.; Tsui, Judy S. L.
作者单位：Deakin University; University of Texas System; University of Texas Arlington; Wuhan College
摘要：We examine whether the presence of female directors and female audit committee members affect audit quality in terms of audit effort and auditor choice by using observations from a sample of U.S. firms, spanning the years 2001-2011. We find, after controlling for endogeneity and other board, firm, and industry characteristics, that firms with gender-diverse boards (audit committees) pay 6 percent (8 percent) higher audit fees and are 6 percent (7 percent) more likely to choose specialist audit...
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作者：Baloria, Vishal P.; Marquardt, Carol A.; Wiedman, Christine I.
作者单位：Boston College; City University of New York (CUNY) System; Baruch College (CUNY); University of Waterloo
摘要：We evaluate the net costs and benefits of the whistleblower (WB) provisions adopted under the Dodd-Frank Reform Act of 2010 by examining investor responses to events related to the proposed regulations. We focus our main analysis on a sample of firms that lobbied against implementation of the WB provisions by submitting a comment letter to the SEC. Lobbying firms are characterized by weaker existing WB programs and greater degrees of managerial entrenchment than a matched control sample of sim...
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作者：Burger, Marcus; Curtis, Asher
作者单位：Idaho State University; University of Washington; University of Washington Seattle
摘要：We examine whether, in the aggregate, margin debt is associated with the divergence of price from accounting fundamentals. We find that investors increase their margin debt following upward price movements away from accounting fundamentals, consistent with these investors being extrapolative in aggregate. We also find evidence that margin debt appears to be linked to temporary overpricing in recent periods, as the aggregate ratio of margin debt to price is reliably associated with negative fut...
