作者：Hodder, L; Kohlbeck, M; McAnally, ML
作者单位：Stanford University; University of Wisconsin System; University of Wisconsin Madison; University of Texas System; University of Texas Austin
摘要：This paper provides evidence that regulatory contracts affect firms' accounting choices and risk-management decisions. Specifically, we investigate whether an exogenous shock to regulatory risk induced by Statement of Financial Accounting Standards No. 115, Accounting for Certain Investments in Debt and Equity Securities (SFAS 1993), encouraged U.S. banks to deviate from portfolio and risk benchmarks when they adopted the standard. Because we cannot observe relevant benchmarks, we model portfo...
作者：Schwartz, ST; Young, RA
作者单位：State University of New York (SUNY) System; Binghamton University, SUNY; University System of Ohio; Ohio State University
摘要：This paper describes an experiment in which subjects, acting as division managers, exchanged privately held information before making intrafirm investment decisions. Social efficiency required that managers honestly disclose their private information, but managers had individual incentives to send biased messages. These features of the model created an important role for ex post verification, the main manipulation in the experiment. The matching protocol was also manipulated, using both random...
