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作者：Ball, Ray; Nikolaev, Valeri V.
作者单位：University of Chicago
摘要：Do accruals-based earnings provide better information about future operating cash flows than do operating cash flows themselves, as predicted by the Financial Accounting Stan-dards Board's conceptual framework (FASB, 1978)? While this is a foundational issue in accounting, because it addresses the information added by accrual accounting methods, testing it remains unsettled. We show that when comparing the predictive ability of operating cash flows with that of an equivalent earnings measure c...
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作者：Hanlon, Michelle; Shroff, Nemit
作者单位：Massachusetts Institute of Technology (MIT)
摘要：We survey 170 inspectors, representing 27% of the inspection staff, from auditor public oversight boards (POBs) in 20 countries to understand whether, how, and why auditors respond to POB oversight. We find that a large majority of inspectors believe that auditors frequently respond to their feedback by changing audit procedures and quality control systems. Inspectors perceive inspections to have broad effects on several aspects of auditing, ranging from documentation to the removal of partner...
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作者：Yang, Ling
作者单位：Queens University - Canada
摘要：I study whether commercial banks' loan loss allowances were inadequate during the 2008 financial crisis because bank managers relied on low-quality information to estimate loan losses. To measure the quality of information collected on bank-held mortgages prior to the crisis, I create a bank exposure-to-mortgage fraud risk index (EFI) that captures overstatement of borrower income in mortgage applications. I find banks that originated more loans in high-risk neighborhoods had less adequate loa...
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作者：Thompson, Anne M.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：SEC confidential treatment (CT) orders are regulatory exemptions that enable firms to redact proprietary information from SEC filings if the disclosure would cause competitive harm and if the information is immaterial to investors. This study examines the role of firms' political connections in the SEC's decisions to approve versus reject CT requests before and after Congressional intervention and internal SEC scrutiny into the CT process. CT requests from politically connected firms are less ...
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作者：Huang, Allen H.; Lin, An -Ping; Zang, Amy Y.
作者单位：Hong Kong University of Science & Technology; Singapore Management University
摘要：We identify a specific organizational resource in brokerage housesdinformation sharing among analyst colleagues who cover economically related industries along a supply chain. After controlling for brokerage selection effects, we show evidence consistent with the benefit of this resource to analyst research performance. Specifically, we find that analysts whose colleagues cover more economically connected industries have better research performance, especially when their colleagues produce hig...
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作者：Ferracuti, Elia
作者单位：Duke University
摘要：This paper investigates how information uncertainty, measured through variation in the informativeness of the public information environment, shapes the organizational design choices of firms. I posit that, when faced with higher uncertainty about demand and supply, managers are more likely to establish links to customer/supplier industries through high-level hiring decisions and vertical integration, thereby facilitating access to information about these industries. Consistent with this hypot...
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作者：He, Eric; Jacob, Martin; Vashishtha, Rahul; Venkatachalam, Mohan
作者单位：Duke University; WHU - Otto Beisheim School of Management; Duke University
摘要：Pressure from short-horizon investors can hurt investments in innovative, long-run value-increasing projects. We explore the efficacy of a commonly proposed tax-based policy tool to mitigate this problem: the imposition of differentially greater taxes on short-term capital gains vis-a-vis long-term capital gains. Using a panel of 30 OECD countries in which seven countries exhibit 21 changes to differential capital gains taxation over 1991-2006, we find that rewarding longer-term ownership thro...
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作者：Gopalan, Yadav
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：I examine how banks change their risk management practices in response to the private disclosure of regulatory ratings that summarize bank risk-taking. Upon ratings disclosure, affected banks increase the timeliness of their loan loss provisioning. These effects are concentrated among banks that lie below key rating thresholds and those headquartered in states with low competition. After ratings disclosure, deficient banks decrease commercial lending while shifting assets into cash. Overall, m...
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作者：De Simone, Lisa; Klassen, Kenneth J.; Seidman, Jeri K.
作者单位：University of Texas System; University of Texas Austin; University of Waterloo; University of Virginia
摘要：We investigate whether international income-shifting aggressiveness affects local in-vestments. Amid heightened scrutiny of international activities by tax authorities, firms can support income-shifting goals by locating investments consistent with reported in-come. As a consequence, we predict firms that aggressively shift income will make affiliate-level investment decisions less influenced by local investment opportunities than firms that do not aggressively shift income. We use affiliate-l...
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作者：Core, John E.; deHaan, Ed; Guay, Wayne; Hanlon, Michelle; Lang, Mark; Wu, Joanna
