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作者：Blankespoor, Elizabeth
作者单位：University of Washington; University of Washington Seattle
摘要：This paper examines the effect of market participants' information processing costs on firms' disclosure choice. Using the recent eXtensible Business Reporting Language (XBRL) regulation, I find that firms increase their quantitative footnote disclosures upon implementation of XBRL detailed tagging requirements designed to reduce information users' processing costs. These results hold in a difference-in-difference design using matched nonadopting firms as controls, as well as two additional id...
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作者：Basu, Sudipta; Liang, Yi
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
摘要：We study nonofficer directors' influence on the accounting conservatism of U.S. public firms. Between 1986 and 2002, all 50 U.S. states enacted laws that limited nonofficer directors' litigation risk but often left officer directors' litigation risk unchanged. We find that conditional conservatism decreased after the staggered enactments of the laws, which we attribute to less nonofficer director monitoring of financial reporting in affected firms. Conservatism fell less when shareholder or de...
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作者：Honigsberg, Colleen
作者单位：Stanford University
摘要：This paper uses three alternating changes in hedge fund regulation to study whether regulation reduces hedge funds' misreporting, and, if so, why regulation is effective. Relative to public companies, hedge fund regulation is relatively light. Much of the regime is a comply-or-explain framework that allows funds to forego compliance with governance rules, providing that they disclose their lack of compliance. The results show that regulation reduces misreporting at hedge funds. Further analysi...
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作者：Hayne, Christie; Vance, Marshall
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Virginia Polytechnic Institute & State University
摘要：We examine whether proxy advisory firms (PAs) serve primarily an information intermediary role by providing research and voting recommendations to shareholders, or directly influence executive compensation by exerting pressure on firms to adopt preferred pay practices. Through a field study, we find that PAs are perceived as both information intermediaries and agenda setters and that these roles provide leverage to enable PAs to exercise significant influence over executive pay practices. Boar...
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作者：He, Xianjie; Yin, Huifang; Zeng, Yachang; Zhang, Huai; Zhao, Hailong
作者单位：Shanghai University of Finance & Economics; Nanyang Technological University; Southwestern University of Finance & Economics - China
摘要：We use a large pictorial sample of Chinese financial analysts to test the association between facial width-to-height ratio (fWHR) and performance in men. Financial analysts offer an ideal setting for our investigation because we can objectively track individual analysts' behaviors and performance. We find that high-fWHR analysts are more likely to conduct corporate site visits and they exhibit better performance. The positive fWHR-performance association survives a battery of robustness checks...
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作者：Lester, Rebecca
作者单位：Stanford University
摘要：How do U.S. companies respond to incentives intended to encourage domestic manufacturing? I study the Domestic Production Activities Deduction (DPAD), which was enacted in the American Jobs Creation Act (AJCA) of 2004 and was the third largest U.S. corporate tax expenditure as of 2017. Using confidential data from the U.S. Bureau of Economic Analysis, I find greater average domestic investment spending of $95.5-$143.6 million, but only within the sample of domestic-only firms and not until 201...
