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作者：Zimmerman, Aleksandra Ally B.; Barr-Pulliam, Dereck; Lee, Joon-suk; Minutti-Meza, Miguel
作者单位：State University System of Florida; Florida State University; University of Louisville; University of Miami
摘要：Using Public Company Accounting Oversight Board (PCAOB) inspection data from 2006 to 2018, we examine the use of auditor-employed specialists in audit engagements. First, we find that the use of specialists is increasingly prevalent and related to clients' size and complex accounting estimates. Second, the use of specialists is positively associated with the incidence of audit process deficiencies (identified by PCAOB inspections) but is not associated with output-based audit-quality proxies (...
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作者：Duguay, Raphael; Rauter, Thomas; Samuels, Delphine
作者单位：Yale University; University of Chicago
摘要：We examine how open procurement data affect the competitiveness of award procedures and the execution of government contracts. The European Union recently made its historical procurement notices available for bulk download in a cohesive and user-friendly database. Comparing government contracts above and below EU procurement size thresholds, we find that, after the open data initiative, procurement officials are more likely to award treated contracts through open bidding. In cross-sectional an...
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作者：Bird, Andrew; Karolyi, Stephen A.; Ruchti, Thomas G.
作者单位：Chapman University System; Chapman University; United States Department of the Treasury; Office of the Comptroller of the Currency; Office of Financial Research; United States Department of the Treasury
摘要：We examine the joint response to political uncertainty along two margins: changes in real activity and voluntary disclosure. We focus on within-firm variation in exposure to ex ante competitive U.S. gubernatorial elections using data on preelection poll margins and firms' state exposures. Despite real activity falling in the years leading up to a close election, we find that voluntary disclosure increases both in frequency and content, including mentions of risk in filings that reference state...
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作者：Liu, Jiancheng (Duncan); Shi, Wei; Zeng, Cheng; Zhang, Guochang
作者单位：University of Macau; Deakin University; Hong Kong Polytechnic University; University of Hong Kong
摘要：We investigate how the mandatory adoption of International Financial Reporting Standards (IFRS) by publicly listed firms in the European Union affects peer private firms. We find that private firms' capital investment decreases significantly after the IFRS mandate, relative to public firms. Private firms also display decreased investment when benchmarked against firms relatively insulated from the impact of the IFRS mandate, but the magnitude of the effect is smaller in this case. These result...
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作者：Chen, C. H. E. N.; LI, Leonard leye; Lu, Louise yi; Wang, R. E. N. C. H. E. N. G.
作者单位：Monash University; University of New South Wales Sydney; Australian National University; Singapore Management University
摘要：Using influenza epidemic data, we examine how constraints on corporate information production affect disclosure policies. We find that firms in areas with higher flu activity are less likely to issue short-run earnings forecasts and more likely to issue long-run earnings forecasts. These results are more pronounced when the information production process is more complex, when managers face a greater reputational loss for issuing low-quality short-run forecasts, and when firms' costs of switchi...
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作者：Olbert, Marcel; Severin, Peter H. H.
作者单位：University of London; London Business School; University of Mannheim
摘要：We study the economic impact of private equity (PE) investments on local governments, which are important corporate stakeholders. Examining over 11,000 deals and private firm data in Europe, we document that target firms' effective tax rates and total tax expenses decrease by 15% and 13% after PE deals. At the same time, target firms expand their capital expenditures and firm boundaries, but do not increase employment. Using administrative data on the public finances of German municipalities a...
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作者：Choi, Jung Ho; Gipper, Brandon; Malik, Sara
作者单位：Stanford University; Utah System of Higher Education; University of Utah
摘要：We examine whether financial reporting quality affects worker wages using employer-employee matched data in the United States. We find that low financial reporting quality is associated with a compensating wage differential-that is, a risk premium-using three distinct approaches while controlling for worker characteristics by (1) regressing wages on firm-year-level and firm-level reporting quality, (2) documenting wage changes when workers switch firms, and (3) estimating a structural approach...
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作者：Deller, Carolyn
作者单位：University of Pennsylvania
摘要：Firms are increasingly implementing performance-potential assessment systems, whereby supervisors evaluate employees' current performance and future-oriented potential (i.e., promotion prospects). Whether retention is greatest for high performance-high potential (HiPo) employees under such a system is an empirical question-while the promise of a promotion may aid retention, these employees likely face attractive outside options. Using data from a multinational firm, I find that HiPos generally...
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作者：Ferguson, Duke
作者单位：University of Kentucky
摘要：This study examines whether taxpayers intentionally avoid Internal Revenue Service (IRS) third-party reports. In 2017 an IRS amendment created a quasi-exogenous shock that reduced third-party tax reporting of pari-mutuel gambling winnings from certain types of wagers. I consider the effect that this rule change had on taxpayer behavior. Using a difference-in-differences research design comparing thoroughbred racing in the United States to Canada, I find a 27% increase in gambler's investment i...
