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作者：Li, Frank Weikai; Wang, Baolian
作者单位：Singapore Management University; State University System of Florida; University of Florida
摘要：We use COVID-19 and sell-side analysts as an experiment to study the effects of gender on labor productivity. We find that the forecast accuracy of female analysts declined more than that of male analysts, especially when schools were closed and among analysts who were more likely to have young children, were inexperienced, were busier, or lived in southern states of the US. Relative to male analysts, females also reduced their forecast timeliness and resorted to more heuristic forecasts but d...
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作者：Lei, Zicheng; Petmezas, Dimitris; Rau, P. Raghavendra; Yang, Chen
作者单位：University of London; King's College London; Durham University; University of Cambridge; University of Glasgow
摘要：We examine the association between CEO birthplace proximity and financial misconduct. We find that CEOs managing firms near their birthplaces (home CEOs) are associated with less financial misconduct compared to other CEOs. This association is not attributable to differences in corporate governance. The relationship strengthens in areas with a strong local investment presence and greater religious commitment as well as among CEOs with longer tenures in their home state. Our findings are robust...
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作者：Gipper, Brandon; Ross, Samantha; Shi, Shawn X.
作者单位：Stanford University; University of California System; University of California San Francisco; University of Washington; University of Washington Seattle
摘要：We provide the first large-sample evidence on third-party verification of firms' environmental and social metrics in ESG reports (ESG assurance) in the United States. Focusing on the S&P 500 from 2010-2020, we document a striking increase in not only the number of firms with ESG assurance-in 2020 (2010), 76% (38%) of the S&P 500 had an ESG report and 46% (16%) involved assurance-but also the number of metrics assured. Unlike financial audits, ESG assurance varies widely in form and substance, ...
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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：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：Darendeli, Alper
作者单位：Nanyang Technological University
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作者：Huang, Shawn X.; Kim, Min; Rykaczewski, Maria; Vulcheva, Maria
作者单位：Arizona State University; Arizona State University-Tempe; Sogang University; State University System of Florida; Florida International University
摘要：In recent decades, increasing globalization and rapid technological development have caused many stock exchanges to change their ownership structure from mutually owned (broker/dealer-owned) to demutualized (for-profit, shareholder-owned). This study investigates whether increased for-profit focus weakens exchanges' monitoring incentives. Using multiple financial reporting quality metrics to capture monitoring efforts, we find that monitoring of listed firms declines post demutualization. Addi...
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作者：Dechow, Patricia M.; Loh, Wei Ting; Wang, Annika Yu
作者单位：University of Southern California; Singapore Management University; University of Houston System; University of Houston
摘要：We develop a rating system to evaluate the quality of individual non-GAAP exclusions. Our perspective is that high-quality exclusions reflect nonrecurring economic transactions, are transitory accounting adjustments, or have little usefulness in forecasting cash flows. We use four approaches to rate exclusions. We evaluate the serial correlation of the exclusion, survey accounting academics' views, obtain practitioner ratings from the CFA Institute, and identify the exclusions approved by the ...
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作者：Ege, Matthew; Wang, Dechun; Xu, Nina
作者单位：Texas A&M University System; Texas A&M University College Station; University of Connecticut
摘要：We make a collective assessment of the consequences of 110 auditor reputation-damaging events with media coverage (negative events) from 2007 to 2019 for the U.S. Big Four. First, we fail to find systematic evidence that investors react negatively to negative events. Second, while auditors experience statistically significant client loss after negative events, the effects are short-lived and economically negligible. Furthermore, we find statistically greater effects in situations where theory ...
