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作者：Ciconte, William A.; Leiby, Justin; Willekens, Marleen
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; KU Leuven; BI Norwegian Business School
摘要：Audit theory and regulation assumes that auditors' commercial motivation threatens audit quality. In this registered report, we use data from two Big Four firms in the Netherlands and provide empirical evidence on the relation between auditors' commercial motivation and (1) compensation, (2) total audit effort, and (3) audit quality. We proxy commercial motivation as the time that individual auditors report allocating to commercial activities. We hypothesize that auditors' commercial effort is...
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作者：Bastiaansen, Ilona; Lerman, Alina; Murphy, Frank; Vyas, Dushyant
作者单位：University of Notre Dame; University of Connecticut; University of Toronto
摘要：Stakeholders in the Chapter 11 reorganization process face significant information uncertainty about the post-emergence prospects of the firm. The U.S. Bankruptcy Code requires a debtor to provide a disclosure statement containing adequate information about its financial status and a proposed reorganization plan but stops short of rigidly defining the adequacy standard. We document the heterogeneity in disclosure statement information across 16 distinct attributes and examine the variation in ...
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作者：Chen, Qi; Vashishtha, Rahul; Wang, Shuyan
作者单位：Duke University; University of Minnesota System; University of Minnesota Twin Cities
摘要：Using a large sample of U.S. commercial banks from 1994 to 2019, we find that loan fair values are highly relevant for depositor decision making. A one-standard-deviation decrease in loan fair value performance is associated with more than 10% lower uninsured deposit flows than the sample average. Information in fair values about loan credit quality is quite limited and cannot account for the bulk of the relevance. Instead, consistent with models of bank fragility, the relevance seems to stem ...
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作者：Frankel, Richard; Godigbe, Bright Gershion; Rabier, Maryjane
作者单位：Washington University (WUSTL); Oregon State University
摘要：Research documents price co-movements, or spillovers, between focal firms and their peers at focal firms' earnings announcements. We find that both signed and absolute co-movements between focal- and peer-firm returns are significantly lower at earnings-announcement dates compared to other dates. Analytically, we demonstrate that co-movements do not necessarily indicate common information; instead, co-movements measure the relative proportion of focal firm-specific information to common inform...
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作者：Boot, Arnoud; Vladimirov, Vladimir
作者单位：University of Amsterdam; Centre for Economic Policy Research - UK
摘要：Patent applications often reveal proprietary information to competitors, but does such disclosure harm firms or also benefit them? We develop and empirically support a theory showing that when firms patent enhancements to incumbent, nondisruptive technologies, they can cooperate more easily on these technologies, increasing their profitability. The downside of cooperating on nondisruptive technologies is that the investment in and commitment to disruptive technologies decline. To improve their...
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作者：Cade, Nicole L.; Gunn, Joshua L.; Vandenberg, Alex J.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We provide prevalence estimates for five forms of earnings manipulation based on executives' reports about their firms' actual reporting practices. After preregistering our methods and analyses via the Journal of Accounting Research's registration-based editorial process, we recruit nearly a thousand executives from firms listed in the Russell 3000 Index to participate in either a survey or a list experiment; the hallmark of the latter being additional privacy protections designed to promote h...
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作者：Gallemore, John; Hollander, Stephan; Jacob, Martin; Zheng, Xiang
作者单位：Tilburg University; University of Navarra; IESE Business School; Nanyang Technological University
摘要：This paper examines how firms' tax policy expectations (TPE) evolve around and relate to their investment responses to changes in tax policy. Using a text-based approach to measuring TPE, we find that two recent tax policy-changing events-namely, the 2016 U.S. presidential election and the enactment of the Tax Cuts and Jobs Act (TCJA)-spawned considerable between- and within-firm variation in TPE, with aggregate time-series patterns in TPE occasionally challenging prevailing assumptions in pre...
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作者：Jia, Yanrong
作者单位：City University of New York (CUNY) System; Baruch College (CUNY)
摘要：This study examines whether the efficiency of federal district courts affects the likelihood of SEC enforcement. The results indicate that the SEC is less likely to initiate enforcement actions against firms in less efficient federal district courts. In addition, the study examines the implications of court efficiency for firms' financial reporting quality (FRQ). The evidence suggests that firms residing in more efficient federal districts have higher FRQ and the effect is stronger in subsampl...
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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：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...
