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作者：Allee, Kristian D.; Cating, Ryan; Rawson, Caleb
作者单位：University of Arkansas System; University of Arkansas Fayetteville; University of Central Arkansas
摘要：We examine the effects of local newspapers on firms' information environments. With newspaper employment dropping precipitously in the last few decades, we posit that these changes will harm local firms' information environments. Consistent with local news improving information environments, we find that volatility, spreads, and illiquidity increase as local newspaper intensity declines and that this is associated with firms' importance in their local economy. We further find that for firms th...
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作者：Welsch, Anthony; Williams, Braden; Mills, Lillian
作者单位：University of Chicago; University of Texas System; University of Texas Austin
摘要：State tax revenue forecasting is critical to states' fiscal planning because many states have constitutions or laws that require a balanced budget and restrict borrowing to fund deficits. We develop and compare four measures of aggregate corporate earnings growth. We find that a state-specific industry-weighted measure of earnings growth predicts future state tax revenue growth, incremental to states' actual forecasts (i.e., it increases explanatory power by a factor of 1.86). Earnings growth ...
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作者：Ling, Qianhua; Roberts, Andrea Alston
作者单位：Marquette University; University of Virginia
摘要：This paper identifies a helpful red flag stakeholders can use to detect whether a nonprofit has managed its financial information. This red flag is reporting an identical program ratio-that is, the nonprofit organization reports the exact same ratio in multiple years-while reporting a large change in total spending. We find nonprofits are more likely to report identical program ratios when resource providers rely on ratios; pay is determined, at least in part, by performance; and the potential...
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作者：Dichev, Ilia; Owens, Edward
作者单位：Emory University; Utah System of Higher Education; University of Utah
摘要：We define accrual duration as the length of time between an accrual and its associated cash flow. Accrual duration is inextricably linked to accrual discretion and accrual quality by the fundamentals of the accrual process-the recording of longer-duration accruals involves using longer-term estimates, which makes them relatively more discretionary and less reliable, ceteris paribus. We provide the theoretical development of this broad idea and demonstrate several empirical applications linking...
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作者：Jiang, John Xuefeng; He, Shaohua; Wang, K. Philip
作者单位：Michigan State University; Michigan State University's Broad College of Business; Lancaster University; State University System of Florida; University of Florida
摘要：Using the market values of audit partners' houses as a measure of their personal wealth, we find that wealthier U.S. partners provide higher-quality audits, as evidenced by fewer material restatements, fewer material SEC comment letters, and higher audit fees. A battery of falsification tests shows that these findings are not driven by the matching of wealthier partners with clients with higher financial reporting quality. Our additional analyses suggest two explanations: greater personal weal...
