3期

最新文章

• Market and regulatory implications of social identity cohorts: a discussion of crypto influencers AI翻译
  作者：Jagolinzer, Alan D.
  作者单位：University of Cambridge
  摘要：Merkley et al. (2023) examine how cryptocurrency influencers recommend digital coins on Twitter (X) and the associated price effects. They report that influencers may exploit market investors via potential pump and dump schemes. While plausible, researchers may develop a broader understanding of influencers' incentives and their influence by considering how investors engage these markets for social identity needs that enhance utility. Social-psychological research indicates that someone's soci...
• Tax avoidance and firm value: does qualitative disclosure in the tax footnote matter? AI翻译
  作者：Luo, Le; Ma, Mark Shuai; Omer, Thomas C.; Xie, Hong
  作者单位：Central University of Finance & Economics; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Nebraska System; University of Nebraska Lincoln; University of Kentucky
  摘要：This study examines whether qualitative disclosure in tax footnotes affects the market valuation of tax avoidance activities. We predict that more disclosures in tax footnotes mitigate investors' concerns over the agency risk of managers engaging in potentially illegal tax avoidance and improve the transparency of firm performance, thus increasing firm valuation. Consistent with the prediction, we find that the market valuation of tax avoidance increases when firms' tax footnotes disclose more...
• Is it all hype? ChatGPT's performance and disruptive potential in the accounting and auditing industries AI翻译
  作者：Eulerich, Marc; Sanatizadeh, Aida; Vakilzadeh, Hamid; Wood, David A.
  作者单位：University of Duisburg Essen; Northern Illinois University; University of Wisconsin System; University of Wisconsin Whitewater; Brigham Young University
  摘要：ChatGPT frequently appears in the media, with many predicting significant disruptions, especially in the fields of accounting and auditing. Yet research has demonstrated relatively poor performance of ChatGPT on student assessment questions. We extend this research to examine whether more recent ChatGPT models and capabilities can pass major accounting certification exams including the Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Internal Auditor (CIA), a...
• Creating visibility: voluntary disclosure by private firms pursuing an initial public offering AI翻译
  作者：Dambra, Michael; Schonberger, Bryce; Wasley, Charles
  作者单位：State University of New York (SUNY) System; University at Buffalo, SUNY; University of Colorado System; University of Colorado Boulder; University of Rochester
  摘要：We draw on (Merton, The Journal of Finance 42:483-510, 1987) to develop predictions for the benefits of voluntary disclosures by firms pursuing an initial public offering (IPO) prior to when they begin providing regulated financial information via their IPO prospectus. We find that voluntarily issuing press releases and attending investor and industry conferences are common disclosure activities prior to filing the IPO prospectus. Consistent with these disclosures enhancing investor awareness,...
• Naming as business strategy: an analysis of eponymy and debt contracting AI翻译
  作者：Chen, Chen; Song, Michelle; Truong, Cameron; Zhang, Jin
  作者单位：Monash University
  摘要：This study proposes that naming a firm eponymously is a mechanism that small private firms can use to signal their superior financial performance and commitment to fulfill debt contract obligations. Using 621,614 small private firms in Europe over the period 2008-2018, we find that small private eponymous firms pay significantly lower interest on their debts and have more long-term debt than non-eponymous firms. Our findings are robust to various controls and placebo tests. Additional analyses...