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作者：Lowry, Michelle
作者单位：Drexel University
摘要：Maffett et al. (2022) [Importing Activists: Determinants and Consequences of Increased Cross-border shareholder activism. Journal of Accounting and Economics, forthcoming] find that regulations on shareholder engagement and board structure lead to increased shareholder activism. How generalizable is this conclusion: can we conclude more generally that shareholder empowering regulations contribute to increased shareholder engagement? I discuss three areas along which future research can increas...
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作者：Blankespoor, Elizabeth
作者单位：University of Washington; University of Washington Seattle
摘要：Investors are central to the incorporation of firm information in capital markets, yet it is challenging to observe the particular information they use and struggle with. Lee and Zhong (2022) use online investor interactions with Chinese public firms to document evidence that investors face significant processing costs. They find that when investor interactions occur, capital markets behave as if the information environment has improved, with increased trading activity, liquidity, and timely p...
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作者：Lennox, Clive; Wu, Joanna Shuang
作者单位：University of Southern California; University of Rochester
摘要：The past 25 years have seen an exponential growth in the number of China studies in the leading accounting journals. The rise in China-related research mirrors the country's increased importance on the global stage and a growing appreciation of the economic importance of Chinese institutions. We organize our review of the China literature around three central themes: 1) political and regulatory institutions, 2) China's relationships with foreign investors, and 3) the availability of novel data...
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作者：Leuz, Christian
作者单位：University of Chicago; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research
摘要：Armstrong et al. (2022) review the empirical methods used in the accounting literature to draw causal inferences. They document a growing number of studies using quasiexperimental methods and provide a critical perspective on this trend as well as the use of these methods in the accounting literature. In this discussion, I complement their review by broadening the perspective. I argue for a design-based approach to accounting research that shifts attention from methods to the entire research d...
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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：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：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：Core, John E.; deHaan, Ed; Guay, Wayne; Hanlon, Michelle; Lang, Mark; Wu, Joanna
