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作者：Casas-Arce, Pablo; Martinez-Jerez, F. Asis; Moran, Joseph
作者单位：Arizona State University; Arizona State University-Tempe; Cornell University; University of Pennsylvania
摘要：We analyze the motivational effects of managing by walking around (MBWA), a management style that emphasizes managers' visits to the rank and file of the company. We do so by conducting a field experiment in the retail division of a Latin American bank. We find that branches significantly increase sales productivity following the management visit, an effect that begins prior to the top manager's visit and persists for at least a month afterward. We also find a higher impact of the visit on hig...
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作者：Hasan, Iftekhar; Lee, Haekwon; Qiu, Buhui; Saunders, Anthony
作者单位：Bank of Finland; Fordham University; University of Sydney; University of Sydney; New York University
摘要：U sing lenders who become members of the Task Force on Climate-Related Financial Disclosures (TCFD) as an exogenous shock, we examine whether and how lenders' commitment to transparent climate-related disclosures affects borrowers' environmental performance. We find that borrowers of TCFD-member lenders, relative to control firms, significantly improve their environmental performance after the TCFD launch. Lenders' disclosure commitments influence borrowers through credit rationing and monitor...
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作者：Gottsche, Max; Griffin, Paul A.; Habermann, Florian; Schiemann, Frank; Spandel, Theresa
作者单位：University of California System; University of California Davis; University of Lausanne; Otto Friedrich University Bamberg; University of Hamburg
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作者：Kubic, Matthew
作者单位：University of Texas System; University of Texas Austin
摘要：The U.S. Securities and Exchange Commission (SEC) mandates disclosure of Article 11 pro forma financial statements (pro formas) for acquisitions that exceed one of three bright-line materiality thresholds. Motivated by two theories of mandated disclosure, I investigate the conditions under which mandated pro forma disclosure improves forecast accuracy and mitigates incentive alignment problems. My findings indicate that pro formas reduce post-acquisition forecast errors when there is a weak pr...
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作者：Mohanram, Partha; Sun, Wei; Xin, Baohua; Zhu, Jigao
作者单位：University of Toronto; China Agricultural University; University of International Business & Economics
摘要：This paper investigates the effects of a regulatory change in China of the presentation format for research and development (R&D) expense, which mandates public firms to explicitly present R&D expense on their income statements. We predict that this regulation will impact nonstate-owned enterprises (non-SOEs), which care about stock market valuation, more than state-owned enterprises (SOEs). We find that non-SOEs report significantly higher R&D expense post regulation. Furthermore, the R&D inc...
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作者：Chakrabarty, Bidisha; Moulton, Pamela C.; Pugachev, Leonid; Wang, Xu (Frank)
作者单位：Saint Louis University; Cornell University; University of Missouri System; University of Missouri Saint Louis
摘要：We offer two new fraud prediction metrics: the AB-score, which is based on Benford's Law, and the ABF-score, which combines the AB-score with the well-known F-score model from the seminal work by Dechow et al. (2011). Multiple performance evaluation metrics show that the ABF-score provides the highest accuracy, while the AB-score substantially expands the scope over which misreporting can be predicted. Additionally, both models are easier to estimate than other popular models while delivering ...
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作者：Bills, Kenneth L.; Cating, Ryan; Lin, Chenxi; Seidel, Timothy A.
作者单位：Michigan State University; Michigan State University's Broad College of Business; University of Central Arkansas; University of Oklahoma System; University of Oklahoma - Norman; Brigham Young University
摘要：This study examines whether auditors serve as a conduit for disseminating Securities and Exchange Commission (SEC) views on reporting and disclosure matters as the result of being privy to clients' SEC comment letters. This examination is important because auditors' involvement in and private access to clients' comment letters can enhance the timeliness of dissemination and constrain reporting or disclosure choices that diverge from SEC views. Among clients with a greater expectation of impair...
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作者：Li, Sophia Zhengzi; Luan, Zeyao
作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark
摘要：We estimate investors' disagreement regarding firm news and assess its ability to predict stock returns. Specifically, we quantify firm-level investor disagreement through the volume-volatility elasticity surrounding firm news; higher elasticity is associated with less investor disagreement. Intuitively, disagreement introduces additional trading motives that are not driven by price changes, weakening the connection between volume and volatility. Our findings indicate that investor disagreemen...
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作者：Usman, Muhammad; Gyapong, Ernest; Agyei-Boapeah, Henry; Yin, Junming
作者单位：Xijing University; Alfaisal University; University of Essex; Nanjing University of Information Science & Technology
摘要：Using a dataset of Chinese listed firms, we examine the relationship between Chinese nationals with foreign experience serving as directors (i.e., returnee directors) and the incidence of corporate fraud. We find a significantly negative relationship between returnee directors and fraud. Further, relative to foreign and independent directors, returnee directors do more than other directors in constraining firms' fraud. These results are robust to endogeneity concerns addressed through propensi...
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作者：Darendeli, Alper
作者单位：Nanyang Technological University
