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作者：Law, Kelvin K. F.; Tan, Jingdan
作者单位：Nanyang Technological University; Hong Kong Polytechnic University
摘要：Using data from over 4,000 Black Lives Matter (BLM) protests across 600 U.S. counties from 2014 to 2021, we examine how BLM activism shapes corporate diversity at different organizational levels. We develop an approach integrating OpenAI's GPT-4 with Chain-of-Thought prompting to classify race and ethnicity. In our validation tests, this method achieves higher accuracy than several tested open-source algorithms. Our main findings are as follows. First, although firms headquartered in protest-a...
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作者：Li, Xiaoxing; Brazel, Joseph F.; Gold, Anna; Leiby, Justin
作者单位：Norwegian School of Economics (NHH); North Carolina State University; Vrije Universiteit Amsterdam; University of Illinois System; University of Illinois Urbana-Champaign
摘要：As the use of audit data analytic tests (ADA) becomes increasingly established in practice, auditors will often confront situations in which they inherit ADA developed by others, as opposed to developing the ADA themselves. Despite the potential benefits of ADA, inheriting ADA could decrease auditors' skeptical actions by diminishing their psychological ownership of the ADA. In an experiment where an ADA identifies a fraud red flag, we find that auditors who inherited the ADA are less likely t...
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作者：Anderson, Spencer B.; Mendoza, Kim I.; Mongold, Cassie
作者单位：Indiana University System; Indiana University Bloomington; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Classification of financial statement elements into categories is an inherent, integral part of the financial reporting system. Although prior research documents that categories influence users' perceptions of included items, we explore the reverse effect-how classifying items in a category can impact perceptions of the category itself and its other members. Using categorization theory from psychology and accounting literature and exploiting the classification challenges inherent to the crypto...
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作者：Lu, Yao
作者单位：Cornell University
摘要：I study how the disclosure of the liquidity coverage ratio mandated for a group of systemically important U.S. banks affects peer banks' liquidity holdings. I predict that the disclosure mitigates uncertainty about aggregate liquidity risk by providing insight into the likelihood of market-wide liquidity shocks and specific sources of liquidity stress. This uncertainty resolution, in turn, reduces nondisclosing banks' precautionary demand for liquidity. Using bank business interactions to meas...
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作者：Chau, Jacky
作者单位：Shenzhen Technology University
摘要：This registered report investigates self-directed retail investors' information choices and trading decisions on an integrated trading platform that provides timely and convenient access to accounting information. The analyses reveal that these investors access a mosaic of information, with a high proportion not firm-specific. In accessing accounting disclosures, retail investors are more interested in media articles providing summaries or expert analyses than original filings. Retail trades o...
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作者：Chang, Xin; Gao, Huasheng; Li, Wei
作者单位：Nanyang Technological University; Fudan University; City University of Hong Kong
摘要：Examining test statistics from articles in six leading accounting journals, we detect discontinuities in their distributions around conventional significance thresholds (p-values of 0.05 and 0.01) and find an unusual abundance of test statistics that are just significant. Further analysis reveals that these discontinuities are more prominent in studies with smaller samples and are more salient in experimental than in archival studies. The discontinuity discrepancy between experimental and arch...
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作者：Floros, Ioannis, V; Johnson, Shane A.; Zhao, Wanjia
作者单位：University of Wisconsin System; University of Wisconsin Milwaukee; Texas A&M University System; Texas A&M University College Station; Mays Business School; Monash University
摘要：We introduce the idea of cross-regulatory disclosure avoidance, whereby firms attempt to counteract expansions of disclosure under one regulation through actions that reduce disclosure under a different one. We study whether firms redact information from material contracts when they face new rules to disclose segment information. Using SFAS No. 131 as a plausibly exogenous shock to segment disclosure, we find that firms increasing the number of reported segments after the rule change exhibit a...
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作者：Gassen, Joachim; Muhn, Maximilian
作者单位：Humboldt University of Berlin; University of Chicago
摘要：This paper examines why private firms choose to be financially transparent or opaque by conducting a field experiment with more than 25,000 firms in Germany. We inform a randomly chosen set of firms about a disclosure option that allows eligible firms to restrict access to their otherwise publicly available financial statements. We also vary the messaging in subtle ways to induce experimental variation in the probability that firms take transacting (capital providers or customers and suppliers...
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作者：Mao, Connie x.; Qin, Yueru; Tian, Xuan; Zhang, Chi
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Nankai University; Tsinghua University; University of Massachusetts System; University of Massachusetts Lowell
摘要：Technology acquirers face significant information asymmetry when identifying appropriate acquisition targets. We exploit plausibly exogenous variation in the costs of gathering technological information as the result of patent library openings. We find that, after local patent libraries open, firms become more active in technological acquisitions, acquirers prefer targets that are geographically or technologically close to a lesser extent, completion rates for technology M&A increase, and perf...
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作者：Dai, Ruiting; Dong, Xuanjun; Shroff, Nemit; Tan, Qin
作者单位：Drexel University; Shanghai University of Finance & Economics; Massachusetts Institute of Technology (MIT); City University of Hong Kong
摘要：We examine whether U.S. immigration policy, specifically the H-1B visa program, affects the likelihood of financial misconduct. We argue that employers have leverage over employees on H-1B visas because such employees must maintain H-1B-eligible employment to legally reside in the United States. We posit that companies relying on H-1B visas to hire workers in accounting roles have an increased ability to misreport their financial statements due to the greater costs H-1B employees face if they ...
