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作者：Baik, Dave (Young -Il); Chen, Clara Xiaoling; Godsell, David
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：We investigate the effect of board gender diversity (BGD) on investment outcomes. We identify variation in BGD by compiling, for the first time, a global catalog of 83 BGD interventions implemented in 59 countries between 1999 and 2021. Using a staggered difference-in-differences research design, we document that BGD interventions improve investment outcomes. We find that treated firms reduce inefficient investment by 0.6 percent of total assets or 6.5 percent of total investment and are 4 per...
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作者：Rimkus, Dan
作者单位：State University System of Florida; University of Florida
摘要：Auditors collect evidence from clients that vary in social status. I investigate how these status differences interact with the costliness of auditor requests, thereby influencing client cooperation during evidence collection. I develop theory predicting that higher-status clients' cooperation decisions will be more sensitive to differences in the costliness of requests than lower-status clients' decisions. I test this theory across two experiments using multiple methods, leveraging the comple...
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作者：Kowaleski, Zachary T.; Sutherland, Andrew G.; Vetter, Felix W.
作者单位：University of Texas System; University of Texas Austin; Massachusetts Institute of Technology (MIT); University of Mannheim
摘要：We study the influence of supervisors on employee misconduct at branches of U.S. financial institutions. Individual supervisor fixed effects explain twice as much variation in branch misconduct as firm fixed effects. Supervisor influence is concentrated in firms that theory suggests are most likely to delegate authority-firms with complex operations, distant branches, and trustworthy supervisors. Supervisors affect misconduct through their personnel decisions, attention to employees with past ...
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作者：Easton, Peter D.; Kapons, Martin M.; Monahan, Steven J.; Schutt, Harm H.; Weisbrod, Eric H.
作者单位：University of Notre Dame; University of Amsterdam; Utah System of Higher Education; University of Utah; Tilburg University; University of Kansas
摘要：We use a simple k -nearest neighbors algorithm (hereafter, k -NN*) to forecast earnings. k -NN* forecasts of one-, two-, and three -year -ahead earnings are more accurate than those generated by popular extant forecasting approaches. k -NN* forecasts of two- and three-year (one -year) -ahead EPS and aggregate three-year EPS are more (less) accurate than those generated by analysts. The association between the unexpected earnings implied by k -NN* and the contemporaneous market -adjusted return...
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作者：Gopalan, Yadav K.; Imdieke, Andrew J.; Schroeder, Joseph H.; Stuber, Sarah B.
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; Federal Reserve System - USA; Federal Reserve Bank - St. Louis; University of Notre Dame; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：We exploit a regulatory change to examine whether bank regulator strictness is affected when regulators no longer rely on external assurance. In the absence of external assurance, we find that banks report higher nonaccrual loans, higher troubled debt restructurings, and both a timelier loan loss provision and higher quality allowance for loan loss reserve. Further, regulators spend more days performing targeted bank examinations for banks affected by the regulatory change. We do not find evid...
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作者：Li, Bin; Venkatachalam, Mohan
作者单位：University of Houston System; University of Houston; Duke University
摘要：This paper evaluates the real effects of the new lease standard, ASC 842, on firms' investment and operational outcomes. Using a sample of airline companies, we find that, subsequent to the promulgation of ASC 842 (2016-2018), public airlines reduce operating lease usage by about seven to ten percentage points relative to private airlines. The reduced lease usage is replaced by increased ownership, suggesting an equilibrium shift in firms' investment due to changes in the cost -benefit tradeof...
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作者：Bailey, Charles D.
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作者：Kimbrough, Michael D.; Paharia, Neeru; Wang, Xu (Frank); Wei, Sijing
作者单位：University System of Maryland; University of Maryland College Park; Arizona State University; Arizona State University-Tempe; Saint Louis University; Creighton University
摘要：We provide evidence from the first short -window event study of consumers' perceptual responses to earnings announcements using daily consumer perception data. We document a positive association between the change in consumers' overall perceptions of a brand at the time of the earnings announcement and the earnings surprise-that is, a positive consumer earnings response coefficient (CERC). CERC is larger when there is greater traditional news or social media activity, indicating that news diss...
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作者：Maksymov, Eldar; Peecher, Mark E.; Pickerd, Jeffrey; Zhou, Yuepin (Daniel)
作者单位：Arizona State University; Arizona State University-Tempe; University of Illinois System; University of Illinois Urbana-Champaign; University of Mississippi
摘要：Research indicates that auditors have an impoverished understanding of trial preparation factors that, independent of audit quality, can significantly elevate audit litigation risk. As the scholarly literature sheds little insight about the nature and implications of these factors, we identify what factors audit litigators consider in trial preparation, how they expect these factors to affect litigation outcomes, and how they attempt to leverage these factors. To do so, we interview 39 audit l...
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作者：Cao, Chunfang; Cheng, C. S. Agnes; Xia, Changyuan; Xie, Jing; Zeng, Cheng (Colin)
作者单位：Sun Yat Sen University; University of Oklahoma System; University of Oklahoma - Norman; Southwestern University of Finance & Economics - China; University of Macau; Hong Kong Polytechnic University
摘要：This study examines whether politicians exhibit hometown favoritism in assigning preferential corporate income tax rates. We find that firms with hometown connections to incumbent provincial leaders experience favorable tax treatment. This effect is more pronounced when those leaders have strong hometown preferences and weaker when they have a strong incentive to seek promotion, suggesting that social incentives are the primary drivers of the effects on corporate tax benefits of hometown favor...
