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作者：Minnis, Michael; Sutherland, Andrew
作者单位：University of Chicago; Massachusetts Institute of Technology (MIT)
摘要：Using a data set that records banks' ongoing requests of information from small commercial borrowers, we examine when banks use financial statements to monitor borrowers after loan origination. We find that banks request financial statements for half the loans and this variation is related to borrower credit risk, relationship length, collateral, and the provision of business tax returns, but in complex ways. The relation between borrower risk and financial statement requests has an inverted U...
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作者：Bozanic, Zahn; Hoopes, Jeffrey L.; Thornock, Jacob R.; Williams, Braden M.
作者单位：University System of Ohio; Ohio State University; University of North Carolina; University of North Carolina Chapel Hill; Brigham Young University; University of Texas System; University of Texas Austin
摘要：We study how public and private disclosure requirements interact to influence both tax regulator enforcement and firm disclosure. To capture IRS enforcement activities, we introduce a novel data set of IRS acquisition of firms' public financial disclosures, which we label IRS attention. We examine the implementation of two new disclosure requirements that potentially alter IRS attention: FIN 48, which increased public tax disclosure requirements, and Schedule UTP, which increased private tax d...
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作者：Bloomfield, Matthew J.; Brueggemann, Ulf; Christensen, Hans B.; Leuz, Christian
作者单位：University of Chicago; Humboldt University of Berlin; National Bureau of Economic Research
摘要：The paper examines whether international regulatory harmonization increases cross-border labor migration. To study this question, we analyze European Union initiatives that harmonized accounting and auditing standards. Regulatory harmonization should reduce economic mobility barriers, essentially making it easier for accounting professionals to move across countries. Our research design compares the cross-border migration of accounting professionals relative to tightly matched other profession...
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作者：Chen, Qi; Lewis, Tracy R.; Schipper, Katherine; Zhang, Yun
作者单位：Duke University; George Washington University
摘要：We examine uniform and discretionary regimes for reporting information about firm performance from the perspective of a standard setter, in a setting where the precision of reported information is difficult to verify and the reported information can help coordinate decisions by users of the information. The standard setter's task is to choose a reporting regime to maximize the expected decision value of reported information for all users at all firms. The uniform regime requires all firms to r...
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作者：Bushman, Robert M.; Williams, Christopher D.; Wittenberg-Moerman, Regina
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Michigan System; University of Michigan; University of Southern California
摘要：We investigate whether a borrower's media coverage influences the syndicated loan origination and participation decisions of informationally disadvantaged lenders, loan syndicate structures, and interest spreads. In syndicated loan deals, information asymmetries can exist between lenders that have a relationship with a borrower and less informed, nonrelationship lenders competing to serve as lead arranger on a syndicated loan, and also between lead arrangers and less informed syndicate partici...
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作者：Michels, Jeremy
作者单位：University of Pennsylvania
摘要：Standard setters explicitly state that disclosure should not substitute for recognition in financial reports. Consistent with this directive, prior research shows that investors find recognized values more pertinent than disclosed values. However, it remains unclear whether reporting items are recognized because they are more relevant for investing decisions, or whether requiring recognition itself prompts differing behavior on the part of firms and investors. Using the setting of subsequent e...
