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作者：Bischof, Jannis; Daske, Holger; Sextroh, Christoph J.
作者单位：University of Mannheim; Tilburg University
摘要：Politicians frequently intervene in the regulation of financial accounting. Evidence from the accounting literature shows that regulatory capture by special interests helps explain these interventions. However, many accounting rules have broad economic or social consequences, such as their effects on income distribution or private sector subsidies. The perception of these consequences varies with a politician's ideology. Therefore, if accounting rules produce those consequences, ideology plaus...
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作者：Grant, Stephanie M.
作者单位：University of Washington; University of Washington Seattle
摘要：I examine how characteristics of investors' information access tools change investors' reactions to firm disclosures. I examine my research question in the context of information choice (i.e., allowing investors to choose the order of information and sections to read within a disclosure) and spatial layout (i.e., how information is displayed when viewing the disclosure). Results of an experiment are consistent with information choice improving investors' judgments if the disclosure is viewed o...
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作者：Wu, Donghui; Ye, Qing
作者单位：Chinese University of Hong Kong; Chinese University of Hong Kong; Nanjing University
摘要：Adverse client publicity can entail regulatory scrutiny over audited financial statements and impose political costs on auditors. We use the changes in client publicity caused by their controlling owners' presence on the Hurun Rich List (the rich listing) in China to test the hypothesis that auditor conservatism increases with client publicity. Our evidence indicates auditors issue more adverse audit opinions to clients and charge higher fees following the rich listing events. Moreover, we obs...
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作者：Gillette, Jacquelyn R.; Samuels, Delphine; Zhou, Frank S.
作者单位：Massachusetts Institute of Technology (MIT); University of Pennsylvania
摘要：This paper examines how credit rating levels affect municipal debt issuers' disclosure decisions. Using exogenous upgrades in credit rating levels caused by the recalibration of Moody's municipal ratings scale in 2010, we find that upgraded municipalities significantly reduce their disclosure of required continuing financial information, relative to unaffected municipalities. Consistent with a reduction in debtholders' demand for information driving these results, the reduction in disclosure i...
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作者：Lisowsky, Petro; Minnis, Michael
作者单位：Boston University; University of Chicago
摘要：This study uses a comprehensive panel of tax returns to examine the financial reporting choices of medium-to-large private U.S. firms, a setting that controls over $9 trillion in capital, vastly outnumbers public U.S. firms across all industries, yet has no financial reporting mandates. We find that nearly two-thirds of these firms do not produce audited GAAP financial statements. Guided by an agency theory framework, we find that size, ownership dispersion, external debt, and trade credit are...
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作者：Dyreng, Scott D.; Hoopes, Jeffrey L.; Langetieg, Patrick; Wilde, Jaron H.
作者单位：Duke University; University of North Carolina; University of North Carolina Chapel Hill; University of Iowa
摘要：Although subsidiary disclosures in firms' filings with the Securities and Exchanges Commission (SEC; Exhibit 21) represent the most granular required public disclosure of a firm's geographic footprint, little is understood about the quality of the disclosure, and anecdotal evidence suggests firms may not fully comply with the disclosure requirements. We use data provided by multinational firms to the Internal Revenue Service regarding their foreign subsidiary locations to explore the accuracy ...
