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作者：Jamal, K; Maier, M; Sunder, S
作者单位：University of Alberta; University of Iowa; Yale University
摘要：We present data on privacy practices in e-commerce under the European Union's formal regulatory regime prevailing in the United Kingdom and compare it with the data from a previous study of U.S. practices that evolved in the absence of government laws or enforcement. The codification by the E.U. law, and the enforcement by the U.K. government, improves neither the disclosure nor the practice of e-commerce privacy relative to the United States. Regulation in the United Kingdom also appears to s...
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作者：Aboody, D; Hughes, J; Liu, J
作者单位：University of California System; University of California Los Angeles
摘要：Previous research argues that earnings quality measured as the unsigned abnormal accruals, proxies for information asymmetries that affect cost of capital. We examine this argument directly in two stages. In the first stage, we estimate firms' exposure to an earnings quality factor in the context of a Fama-French three-factor model augmented by the return on a factor-mimicking portfolio that is long in low earnings quality firms and short in high earnings quality firms. In the second stage, we...
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作者：Engel, E
作者单位：University of Chicago
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作者：Karamanou, I; Vafeas, N
作者单位：University of Cyprus
摘要：We study how corporate boards and audit committees are associated with voluntary financial disclosure practices, proxied here by management earnings forecasts. We find that in firms with more effective board and audit committee structures, managers are more likely to make or update an earnings forecast, and their forecast is less likely to be precise, it is more accurate, and it elicits a more favorable market response. Together, our empirical evidence is broadly consistent with the notion tha...
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作者：Defond, ML; Hann, RN; Hu, XS
作者单位：University of Southern California
摘要：We examine three-day cumulative abnormal returns around the announcement of 702 newly appointed outside directors assigned to audit committees during a period before implementation of the Sarbanes-Oxley Act (SOX). Motivated by the SOX requirement that public companies disclose whether they have a financial expert on their audit committee, we test whether the market reacts favorably to the appointment of directors with financial expertise to the audit committee. In addition, because it is contr...
