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作者：Gong, James Jianxin; Van der Stede, Wim A.; Young, S. Mark
作者单位：California State University System; California State University Fullerton; University of London; London School Economics & Political Science; University of Southern California
摘要：We examine the application of real options within two contexts of motion picture investment decisions by studio executives. The first is whether to continue marketing a film following its initial release in theaters (an abandonment option). The second centers on the decision to produce a sequel to an original film (a growth option). Few accounting studies have examined the use of real options but they are of considerable importance to companies managing risk through their cost structure and ca...
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作者：Pandit, Shail; Wasley, Charles E.; Zach, Tzachi
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of Rochester; University System of Ohio; Ohio State University
摘要：We study the economic determinants of the information externality suppliers experience at the time of their customers' earnings announcements. We measure the information externality as the suppliers' stock price reaction to the announcements. We find that the information externalities are increasing in the magnitude of the new information disclosed by customers; the strength of the economic bond between the firms; components of the customers' earnings information; the level of market uncertain...
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作者：Cao, Zhiyan; Narayanamoorthy, Ganapathi S.
作者单位：University of Washington; University of Washington Tacoma; University of Illinois System; University of Illinois Urbana-Champaign
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作者：Srinidhi, Bin; Gul, Ferdinand A.; Tsui, Judy
作者单位：City University of Hong Kong; Monash University; Monash University Malaysia; Hong Kong Polytechnic University
摘要：A spate of legislated quotas for female representation on corporate boards in European firms and significant voluntary increases in the number and proportion of female directors in U. S. firms indicate that board gender diversity has increasingly been recognized as a matter of importance worldwide. Although the proponents of gender diversity have argued that it results in greater transparency and makes corporate earnings more credible, there is little supporting empirical evidence. We fill thi...
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作者：Willekens, Marleen
作者单位：KU Leuven
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作者：Baik, Bok; Farber, David B.; Lee, Sam (Sunghan)
作者单位：Seoul National University (SNU); McGill University; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：In this study, we examine the relation between chief executive officer (CEO) ability and management earnings forecasts. While Trueman (1986) theorizes that managers voluntarily issue earnings forecasts to signal their ability, there is scant empirical evidence on this issue. Consistent with Trueman's theory, we find that the likelihood and frequency of management earnings forecast issuance increase with CEO ability, as proxied by press citations, a measure generated from data envelope analysis...
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作者：Cassell, Cory A.; Drake, Michael S.; Rasmussen, Stephanie J.
作者单位：University of Arkansas System; University of Arkansas Fayetteville; University System of Ohio; Ohio State University; University of Texas System; University of Texas Arlington
摘要：Evidence from the accounting and finance literatures suggests that short sellers are sophisticated users of financial information who target firms with suspect financial reporting. This literature provides evidence that short sellers take positions in firms before their accounting problems are publicly revealed through SEC enforcement actions, restatements, or lawsuits. Thus, we investigate whether short interest (total shares sold short scaled by total shares outstanding) provides a signal of...
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作者：Dietrich, J. Richard
作者单位：University System of Ohio; Ohio State University
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作者：Bailey, Wendy J.; Hecht, Gary; Towry, Kristy L.
作者单位：Northeastern University; University of Wisconsin System; University of Wisconsin Madison; Emory University
摘要：Firms often allow managers discretion when allocating bonuses so that they can incorporate relevant noncontractible information (i.e., information that reflects employee performance but cannot be included in formal contracts because it represents unforeseen circumstances, cannot be jointly verified, or requires interpretation or judgment) into employees' compensation. However, little is known about how managers use this discretion. We investigate the effect of discretion extent - the portion o...
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作者：Ge, Weili; Matsumoto, Dawn; Zhang, Jenny Li
作者单位：University of Washington; University of Washington Seattle; University of British Columbia
摘要：This paper examines the effect of Chief Financial Officers' (CFOs') individual philosophy or style on corporate accounting choices. We track 359 CFOs across different firms over time and investigate whether CFO-specific factors explain a firm's accounting choices. We find that, across a wide range of accounting choices, individual CFOs are an important determinant of accounting practices. Moreover, the effect of CFO styles appears to be stronger under conditions of high CFO discretion and high...
