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作者：Dyreng, Scott D.; Hoopes, Jeffrey L.; Wilde, Jaron H.
作者单位：Duke University; University System of Ohio; Ohio State University; University of Iowa
摘要：We use a shock to the public scrutiny of firm subsidiary locations to investigate whether that scrutiny leads to changes in firms' disclosure and corporate tax avoidance behavior. ActionAid International, a nonprofit activist group, levied public pressure on noncompliant U.K. firms in the FTSE 100 to comply with a rule requiring U.K. firms to disclose the location of all of their subsidiaries. We use this setting to examine whether the public pressure led scrutinized firms to increase their su...
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作者：Clor-Proell, Shana; Koonce, Lisa; White, Brian
作者单位：Texas Christian University; University of Texas System; University of Texas Austin
摘要：Hybrid financial instruments contain features of both liabilities and equity. Standard setters continue to struggle with getting the classification right for these complex instruments. In this paper, we experimentally test whether the features of hybrid instruments affect the credit-related judgments of experienced finance professionals, even when the hybrid instruments are already classified as liabilities or equity. Our results suggest that getting the classification right is not of primary ...
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作者：Kanodia, Chandra; Sapra, Haresh
作者单位：University of Minnesota System; University of Minnesota Twin Cities; University of Chicago
摘要：Accounting measurement and disclosure rules have a significant impact on the real decisions that firms make. In this essay, we provide an analytical framework to illustrate how such real effects arise. Using this framework, we examine three specific measurement issues that remain controversial: (1) How does the measurement of investments affect a firm's investment efficiency? (2) How does the measurement and disclosure of a firm's derivative transactions affect a firm's choice of intrinsic ris...
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作者：Knechel, W. Robert; Leiby, Justin
作者单位：State University System of Florida; University of Florida; University System of Georgia; University of Georgia
摘要：Effective consultation is critical for improving the audit of estimates. In an experiment where audit managers acted as consultants to other auditors, we examine conditions in which consultants either recommend estimates that differ substantially from advice-seekers' assessments (contrariness) or recommend narrower reasonable ranges of estimates (precision). Psychology theory argues that both of these attributes can improve estimates. We examine whether these attributes depend on consultants' ...
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作者：Friedman, Henry L.; Heinle, Mirko S.
作者单位：University of California System; University of California Los Angeles; University of Pennsylvania
摘要：This study examines the costs and benefits of uniform accounting regulation in the presence of heterogeneous firms that can lobby the regulator. A commitment to uniform regulation reduces economic distortions caused by lobbying by creating a free-rider problem between lobbying firms at the cost of forcing the same treatment on heterogeneous firms. Resolving this tradeoff, an institutional commitment to uniformity is socially desirable when firms are sufficiently homogeneous or the costs of lob...
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作者：Khan, Urooj; Ozel, N. Bucra
作者单位：Columbia University; University of Texas System; University of Texas Dallas
摘要：To extend and monitor loans, banks collect detailed and proprietary information about the financial prospects of their customers, many of whom are local businesses and households. Therefore, banks' loan portfolios contain potentially useful information about local economic conditions. We investigate the association between information in loan portfolios and local economic conditions. Using a sample of U.S. commercial banks from 1990:Q1 to 2013:Q4, we document that information in loan portfolio...
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作者：Leuz, Christian; Wysocki, Peter D.
作者单位：University of Chicago; National Bureau of Economic Research; University of Miami
摘要：This paper discusses the empirical literature on the economic consequences of disclosure and financial reporting regulation, drawing on U.S. and international evidence. Given the policy relevance of research on regulation, we highlight the challenges with (1) quantifying regulatory costs and benefits, (2) measuring disclosure and reporting outcomes, and (3) drawing causal inferences from regulatory studies. Next, we discuss empirical studies that link disclosure and reporting activities to fir...
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作者：Lee, Lian Fen; Lo, Alvis K.
作者单位：Boston College
摘要：We examine whether opinions on firms subsequently revealed to have misstated earnings affect analysts' reputation with investors. We find that positive opinions by bullish analysts hurt their reputation, leading investors to react less to their research on non-misstatement firms after the misstatement revelation (i.e., negative spillovers). We also find that bearish analysts issuing more negative opinions gain reputation and experience positive spillovers. Finally, for analysts who dropped cov...
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作者：Brown, Stephen V.; Knechel, W. Robert
作者单位：State University System of Florida; University of Florida
摘要：We examine auditor switching conditional on the compatibility of clients and their auditors using a unique text-based measure of similarity of financial disclosures. We find clustering of clients within an audit firm based on this measure. We find that clients with the lowest similarity scores are significantly more likely (9.4%-10.6%) to switch auditors, and will change to an audit firm to which they are more similar. Regarding the effect on audit quality, we find that discretionary accruals ...
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作者：Christensen, Hans B.; Nikolaev, Valeri V.; wittenberg-Moerman, Regina
作者单位：University of Chicago; University of Southern California
摘要：This paper reviews theoretical and empirical work on financial contracting that is relevant to accounting researchers. Its primary objective is to discuss how the use of accounting information in contracts enhances contracting efficiency and to suggest avenues for future research. We argue that incomplete contract theory broadens our understanding of both the role accounting information plays in contracting and the mechanisms through which efficiency gains are achieved. By discussing its rich ...
