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作者：Earley, Christine E.; Kuselias, Stephen G.; MacKenzie, Nikki L.
作者单位：Providence College; University System of Georgia; Georgia Institute of Technology
摘要：Regulators and researchers express concern about auditors who leave their firms for employment at their clients, due to lingering relationships which might represent a threat to audit quality. These relationships could negatively impact audit quality through undue influences of the client personnel on auditor judgment. We examine how these relationships influence novice auditors during evidence collection. Understanding the effects of alumni affiliation on evidence collection is important beca...
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作者：Autrey, Romana L.; Drasgow, Fritz; Jackson, Kevin E.; Klevsky, Elena
作者单位：Willamette University; University of Illinois System; University of Illinois Urbana-Champaign; University of Illinois System; University of Illinois Urbana-Champaign; University of Tampa
摘要：Creativity drives profit in an idea economy, and many companies organize teams to facilitate creativity. This paper investigates the strategic deployment of individuals to boost a team's creativity. More individualistic team members tend to generate highly original ideas yet are less likely to share these ideas. We theorize that adding a connector-an individual strongly predisposed to form and foster relationships-to a team will enable more idea sharing among individualistic team members, thus...
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作者：Zhang, Vincent (Qiru)
作者单位：Santa Clara University
摘要：In 2010, the Municipal Securities Rulemaking Board proposed a rule change requiring the display of current credit ratings on the EMMA website, a centralized repository of municipal bond information. Before the rule change, current credit ratings were freely available on individual rating agencies' websites or on EMMA if municipalities provided relevant continuing disclosures, making it unclear whether the rule change would benefit investors. A difference-in-differences analysis reveals the rul...
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作者：Kausar, Asad; Park, You-il (Chris)
作者单位：American University; University of Hawaii System; University of Hawaii Manoa
摘要：Using a generalized aggregate -level difference -in -differences analysis across 32 countries over the 1991-2017 period, we find that the ability of aggregate earnings to predict one-year ahead GDP growth is greater for countries that adopted International Financial Reporting Standards (IFRS) than those that did not. IFRS adoption also enables aggregate earnings to better predict growth in GDP components and related factors. We show that aggregate accruals drive this effect, not aggregate cash...
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作者：Ashby, Jason A.; Chyz, James A.; Myers, Linda A.; Whipple, Benjamin C.
作者单位：University of Louisiana System; University of Louisiana Monroe; University of Tennessee System; University of Tennessee Knoxville; University System of Georgia; University of Georgia
摘要：We test whether firms that exclude the effects of amortization from non-GAAP earnings allocate more of an acquisition's purchase price to definite -lived intangible assets (DLIA). This strategy can yield two potential benefits: it can (1) increase non-GAAP earnings by shifting depreciation of tangible assets, which is often included in non-GAAP earnings, to amortization of DLIA, which non-GAAP earnings exclude, and (2) decrease the likelihood of future impairments by shifting allocations from ...
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作者：Hutchens, Michelle; Rego, Sonja O.; Williams, Brian
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：We examine the relations between tax avoidance and two components of firm risk (priced risk and idiosyncratic risk) using latent class mixture models. OLS regressions suggest that tax avoidance is negatively related to both priced risk and idiosyncratic risk. However, results from latent class mixture models reveal that 35.6 (58) percent of the sample exhibits a significant positive association between tax avoidance and priced (idiosyncratic) risk and firm characteristics are strikingly differ...
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作者：Corona, Carlos; Huang, Zeqiong; Hwang, Hyun
作者单位：University System of Ohio; Ohio State University; Yale University; University of Texas System; University of Texas Austin
摘要：Uniformity is an essential feature of financial reporting, yet its desirability has long been debated. We study a model in which firms decide whether to adopt either their locally preferred accounting methods or a common method, followed by an investor allocating capital across firms. Firms' choices of a common method are strategic complements in attaining more comparable reports. As a result, multiple equilibria may exist. Specifically, an equilibrium in which firms use their local methods al...
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作者：Lee, Charles M. C.; Wang, Yanruo; Zhong, Qinlin
作者单位：University of Washington; University of Washington Seattle; Stanford University; Fudan University
摘要：We develop and evaluate an accounting -based Loan Portfolio Risk (LPR) variable that captures timevarying contagion effects in default risk for a portfolio of bank loans. Our results show that an Equity-to-LPR ratio (ELPR) is additive in predicting bank failure up to five years in advance, after controlling for all the capital adequacy, asset quality, management experience, earnings, liquidity, and sensitivity to market risks (CAMELS) variables as well as other fundamental -based bank risk mea...
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作者：Donovan, John B.; Mcmartin, Andrew S.; Phillips, Matthew A.
作者单位：University of Notre Dame; University of Delaware; Massachusetts Institute of Technology (MIT)
摘要：We study whether recognition versus disclosure affects debt contracting using SFAS 158 as a setting. Upon recognition of previously disclosed pension liabilities, we find that debt contracts of firms that have high pension underfunding contain relatively more covenants based on the balance sheet and a lower cost of debt. Additional analysis suggests that improved reliability of recognized information is a likely mechanism for these findings. We also document that recognition did not affect the...
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作者：Castellani, Vincent; Muller, Karl A.; Park, K. J.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Singapore Management University
摘要：SPACs are formed to combine with and provide a private firm public trading status and a capital infusion. Firms that enter the public market through a SPAC combination are believed to possess greater voluntary disclosure discretion than traditional IPOs as they obtain their public trading status through a merger. Consistent with regulators' concerns, recent research finds that SPACs use this discretion opportunistically by issuing optimistic guidance. This study examines how investors respond ...
