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作者：Carnes, Robert R.; Christensen, Dane M.; Madsen, Paul E.
作者单位：State University System of Florida; University of Florida; University of Oregon
摘要：Financial statement fraud generates many negative effects, including reducing people's willingness to participate in the stock market. If it also stigmatizes accounting, it may similarly adversely affect the quantity and quality of workers willing to become accountants, thereby potentially creating negative effects for years to come. We examine the impact of fraud on the labor force entering the accounting profession, which is a key input into the production of accounting information (i.e., th...
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作者：Nicoletti, Allison; Zhu, Christina
作者单位：University of Pennsylvania
摘要：We examine the economic consequences of a rule designed to improve consumers' understanding of mortgage information. The 2015 TILA-RESPA Integrated Disclosures rule (TRID) simplifies the mortgage disclosures provided to consumers. As a consequence, TRID-affected mortgages become a less attractive investment opportunity to banks. Our main results document that mortgage applications affected by TRID are less likely to be approved following the rule's effective date. We find evidence consistent w...
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作者：Gallo, Lindsey A.; Lynch, Kendall V.; Tomy, Rimmy E.
作者单位：University of Michigan System; University of Michigan; University of Chicago
摘要：We study the role of a relatively new type of external firm monitor, an on-site government-appointed Corporate Monitor, and assess whether such appointments reduce firms' propensity to violate laws. Using a sample of deferred and nonprosecution agreements, we first document the determinants of Monitor appointment. We find firms that voluntarily disclose wrongdoing and have more independent directors are less likely to have Corporate Monitors, whereas those with more severe infractions, mandate...
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作者：Goldstein, Itay; Yang, Shijie; Zuo, Luo
作者单位：University of Pennsylvania; Southern University of Science & Technology; National University of Singapore; Cornell University
摘要：Using the implementation of the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system from 1993 to 1996 as a shock to information dissemination technologies, we examine how a significant reduction in disclosure processing costs affects the real economy. We find that the EDGAR implementation leads to an increase in corporate investment and that this effect is concentrated in value firms. We provide evidence that improved equity financing and enhanced managerial incentives are likely...
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作者：Binz, Oliver; Hills, Robert; Kubic, Matthew
作者单位：INSEAD Business School; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Texas System; University of Texas Austin
摘要：We examine whether the Financial Accounting Standards Board (FASB) Codification made it easier for preparers and auditors to locate relevant accounting guidance. We find that areas of U.S. GAAP with more dispersed and voluminous guidance before the Codification experience a larger post-Codification reduction in restatements. We find a similar decline in SEC comment letter questions referencing areas of U.S. GAAP with more dispersed and voluminous pre-Codification guidance. Our results suggest ...
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作者：Gore, Angela K.; Ji, Yuan; Kulp, Susan L.
作者单位：George Washington University; University of Texas System; University of Texas Arlington
摘要：We explore whether municipalities with public sector unions exploit aspects of governmental (or fund) accounting to obscure the availability of discretionary resources in fund balance accounts, relative to municipalities without public sector unions. We first investigate whether governments with unions report higher proportions of discretionary resources outside of the general fund, a primary measure of financial health, and instead within less prominent fund types. Second, we explore whether ...
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作者：Chow, Travis; Fan, Zhongwen; Huang, Li; Li, Oliver Zhen; Li, Siman
作者单位：University of Hong Kong; City University of Hong Kong; Shanghai Jiao Tong University; Shanghai Lixin University of Accounting & Finance; National University of Singapore; Xiamen University
摘要：In a tax-public goods reciprocity framework between citizens and the state, managers view taxes as a payment to the government in exchange for public goods, and hence they adjust their willingness to pay taxes as public good quality changes. We show that corporate tax planning intensity increases with ground-level ozone pollution. Revisions in ozone pollution regulations cause counties that failed the revised and more stringent standards to reduce ozone pollution. Consequently, firms headquart...
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作者：Knechel, W. Robert; Williams, Devin
作者单位：State University System of Florida; University of Florida; University of Auckland; University of Oklahoma System; University of Oklahoma - Norman
摘要：Prior research on auditor industry specialization documents fee premiums for local audit offices that are industry specialists. This research assumes that the effects of specialization are uniform across markets. We examine industry specialization based on the economic theory of industry agglomeration (geographic areas with high industry concentration). Agglomeration economies can facilitate access to knowledge for auditors serving a specific industry in those locations. We find that industry ...
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作者：Flam, Rachel W.; Green, Jeremiah; Lee, Joshua A.; Sharp, Nathan Y.
作者单位：University of London; London Business School; Texas A&M University System; Texas A&M University College Station; Brigham Young University
摘要：We investigate ethnic minority and nonminority sell-side analysts' participation in public earnings conference calls. We find that minority analysts are underrepresented in conference call Q & A sessions, and minority analysts who do participate on the calls experience lower levels of prioritization than do nonminority analysts. Minority analysts' lower participation rates are partially but not fully mediated by characteristics such as experience, work environment, and stock rating favorabilit...
