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• Do delays in expected loss recognition affect banks' willingness to lend? AI翻译
  作者：Beatty, Anne; Liao, Scott
  作者单位：University System of Ohio; Ohio State University; University of Toronto
  摘要：Banks can decrease their future capital inadequacy concerns by reducing lending. The capital crunch theory predicts that lending is particularly sensitive to regulatory capital constraints during recessions, when regulatory capital declines and external-financing frictions increase. Regulators and policy makers argue that the current loan loss provisioning rules magnify this pro-cyclicality. Exploiting variation in the delay in expected loss recognition under the current incurred loss model, w...
• Hometown advantage: The effects of monitoring institution location on financial reporting discretion AI翻译
  作者：Ayers, Benjamin C.; Ramalingegowda, Santhosh; Yeung, P. Eric
  作者单位：University System of Georgia; University of Georgia
  摘要：We examine the impact of institutional ownership on financial reporting discretion, focusing on whether the impact varies with institutions' cost of acquiring monitoring information. Using geographic distance between the firm and the institutional investor as a proxy for the cost of acquiring monitoring information, we find that corporate managers are less likely to use financial reporting discretion in the presence of local monitoring institutions than distant monitoring institutions. We also...
• Isolating the effect of disclosure on information risk AI翻译
  作者：Tang, Vicki Wei
  作者单位：Georgetown University
  摘要：This study examines companies with two classes of shares that entitle their holders to identical cash flow and voting rights but that are available to mutually exclusive sets of investors: A shares to domestic investors and B shares to foreign investors. Price differences between A and B shares are higher in firms with a greater disparity in the disclosures that they make to domestic and foreign investors. This association is more pronounced when the cost (benefit) of information transfer is h...
• Scale effects of R&D as reflected in earnings and returns AI翻译
  作者：Ciftci, Mustafa; Cready, William M.
  作者单位：University of Texas System; University of Texas Dallas; State University of New York (SUNY) System; Binghamton University, SUNY
  摘要：Using returns to scale as a conceptual foundation, we explore how R&D-related earnings performance and earnings variability depend upon firm size. We find that the positive association between the level of future earnings and R&D intensity increases with firm size, and that the positive association between the volatility of future earnings and R&D intensity decreases with firm size, consistent with R&D productivity increasing with scale. We also show that R&D scale is associated with lower mar...