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作者：Mahieux, Lucas; Sapra, Haresh; Zhang, Gaoqing
作者单位：Tilburg University; University of Chicago; Carnegie Mellon University
摘要：We adopt a financial-materiality approach in studying the costs and benefits of measuring greenhouse gas (GHG) emissions on social welfare. Production by firms internally generates direct GHG emissions (Scope 1 emissions) whereas outsourcing to suppliers generates indirect emissions (Scope 3 emissions). Our analysis incorporates two frictions: (1) long-term negative environmental externalities caused by emissions and (2) fragmentation in regulating emissions disclosures across jurisdictions. W...
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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：Volant, David
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：This study examines the capital market implications of common investor relations (IR) representation, a phenomenon in which multiple public firms share the same external IR representative. Using a difference-in-differences research design, I document that common IR representation is associated with greater overlap in institutional ownership and sell-side analyst coverage as well as similarities in disclosure practices among clients-even those operating in different industries. These effects cu...
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作者：Stice-lawrence, Lorien; Wong, Yu ting forester; Zhao, Wuyang
作者单位：University of Southern California; City University of Hong Kong; McGill University
摘要：We estimate the prevalence and drivers of short squeezes after short-selling attacks. Positive returns after attacks have a disproportionate tendency to fully reverse and are accompanied by heightened short covering, consistent with the presence of short squeezes. We assess and find no support for non-squeeze drivers of these positive return reversals and show they are more likely to be accompanied by squeeze-related news articles, increased stock volatility, and disruptions in the stock lendi...
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作者：Huber, Stefan J.; Mcclure, Charles G.
作者单位：Rice University; University of Chicago
摘要：A significant portion of a merger's purchase price is allocated to goodwill. Currently, goodwill is not amortized but rather tested annually for impairment. When managers of acquiring firms care about earnings, goodwill's accounting treatment can have large effects on future earnings and may influence how much a manager will bid for a target company. We quantify the effects of goodwill accounting by estimating a structural model of corporate takeovers. Our estimates suggest accrual accounting ...
