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作者：Hallman, Nicholas J.; Kartapanis, Antonis; Schmidt, Jaime J.
作者单位：University of Texas System; University of Texas Austin; Texas A&M University System; Texas A&M University College Station
摘要：Prior research provides mixed evidence about whether competition among auditors impairs or improves audit quality. An impediment to this stream of research is the inability of researchers to observe the audit engagement bidding process. We develop a method of detecting bidding by applying a machine learning algorithm to non-incumbent (i.e., competitor) auditor views of public companies' SEC filings. We validate our method using a proprietary sample where all instances of bidding are known. We ...
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作者：Dichev, Ilia D.; Qian, Jingyi
作者单位：Emory University
摘要：This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in con...
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作者：Armstrong, Christopher; Kepler, John D.; Samuels, Delphine; Taylor, Daniel
作者单位：University of Pennsylvania; Stanford University; University of Chicago
摘要：This paper reviews the empirical methods used in the accounting literature to draw causal inferences. Recent years have seen a burgeoning growth in the use of methods that seek to exploit as-if random variation in observational settingsdi.e., quasi-experiments. We provide a synthesis of the major assumptions of these methods, discuss several practical considerations relevant to the application of these methods in the accounting literature, and provide a framework for thinking about whether and...
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作者：Binz, Oliver; Mayew, William J.; Nallareddy, Suresh
作者单位：Duke University; INSEAD Business School
摘要：Initial Gross Domestic Product (GDP) announcements are important economic signals that convey information on the state of the economy but contain substantial estimation error. We investigate how GDP estimation errors affect firms' real decisions and profitability. We find that GDP estimation errors are positively associated with one-quarter-ahead changes in firms' capital investments, production, inventory, and profitability. However, we observe long-run profitability reversals, which is consi...
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作者：Donelson, Dain C.; Kettell, Laura; McInnis, John; Toynbee, Sara
作者单位：University of Iowa; University of Texas System; University of Texas Austin
摘要：Several recent studies argue that the adoption of universal demand (UD) laws represent an exogenous decline in litigation risk by increasing the procedural hurdles associated with shareholder derivative litigation. This study examines how UD laws affect the incidence of derivative litigation risk and related decisions. We show that the adoption of UD laws had no meaningful impact on derivative litigation from 1996 to 2015. We also find no evidence that UD laws affect aggressive accounting, vol...
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作者：Cheng, Qiang; Hail, Luzi; Yu, Gwen
作者单位：Singapore Management University; University of Pennsylvania; University of Michigan System; University of Michigan
摘要：This discussion makes several observations regarding the past 25 years of China-related accounting research reviewed in Lennox and Wu (2022). First, we discuss factors of sup-ply and demand that led to the rise of China-related studies and how this growth has contributed to the internationalization of accounting research. We note that the taxonomy of the literature by geographic region rather than topic or methodology is unusual and makes it difficult to formulate a common framework that would...
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作者：Darendeli, Alper; Fiechter, Peter; Hitz, Joerg-Markus; Lehmann, Nico
作者单位：Nanyang Technological University; University of Neuchatel; University of Gottingen; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：We examine the effect of CSR information on stakeholder decision-making, specifically on supply-chain contracting. To obtain plausibly exogenous variation in CSR information, we exploit the 2017 expansion of CSR rating coverage from Russell 1000 to Russell 2000 firms (hereafter, treated firms) by Thomson Reuters Asset4. Using a difference-in-differences design with the previously covered Russell 1000 supplier firms as the control group, we find a negative effect of the CSR information shock fo...
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作者：Huang, Ying
作者单位：University of Texas System; University of Texas Dallas
摘要：Government subsidies allocated by politicians are ultimately funded by taxpayers, who care about how tax money is spent and demand transparency. I argue that subsidized firms, as beneficiaries of government subsidies, have incentives to provide more disclo-sures to help politicians achieve a reputation for transparency as well as to lower their own costs from public scrutiny. Using a novel dataset that tracks government subsidies, I provide the first large-sample evidence on the relation betwe...
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作者：Core, John E.; deHaan, Ed; Guay, Wayne; Hanlon, Michelle; Lang, Mark; Wu, Joanna
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作者：Kim, Jinhwan; Olbert, Marcel
作者单位：Stanford University; University of London; London Business School
摘要：We investigate the relationship between private firms' disclosures and the demand for the equity of their publicly traded peers. Using data on the global movement of portfolio in-vestments in public equity, we find that a 10% increase in private firm disclosure trans-parency -proxied by the number of disclosed private firms' financial statement line items -reduces global investors' demand for public equity by 4.3% or $358 million per investee country-industry. These findings are consistent wit...
