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作者：Asay, H. Scott; Hales, Jeffrey; Hinds, Cory; Rupar, Kathy
作者单位：University of Iowa; University of Texas System; University of Texas Austin; Queens University - Canada; University System of Georgia; Georgia Institute of Technology
摘要：There is limited evidence on the construct validity of the dependent measures commonly used in the literature on nonprofessional investor judgments. In this paper, we first survey the literature to understand the types of dependent measures typically used by researchers. We then conduct factor analyses to uncover linkages between dependent measures and the constructs underlying these nonprofessional investor judgments. Our results suggest that, while the wide variety of dependent measures can ...
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作者：Kuang, Xi (Jason); Majerczyk, Michael; Yang, Di
作者单位：University System of Georgia; Georgia Institute of Technology; University System of Georgia; Georgia State University; University of New South Wales Sydney
摘要：We experimentally investigate how subordinates' budget reporting in hierarchical organizations is influenced by social distance between subordinates and their direct manager. Although prior research promotes reducing this social distance to improve cooperation and efficiency, we contend that reduced social distance can differentially influence budget reporting, conditional on the manager's stake in the residual claim. As predicted, we find through two studies that the effect of reduced social ...
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作者：Guan, Yuyan; Kim, Jeong-Bon; Liu, Boluo; Xin, Xiangang
作者单位：Nanyang Technological University; City University of Hong Kong; Shanghai University of Finance & Economics
摘要：Utilizing the Trade Reporting and Compliance Engine (TRACE) setting as an exogenous shock to bond market transparency, we find that improved bond market transparency leads to lower crash risk in the stock market, consistent with increased information spillover from the bond market into the stock market. Results from the Path analysis suggest that bond market transparency affects stock price crash risk not only directly, but also indirectly through its effects on management guidance, analyst fo...
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作者：Hou, Liya; Liang, Yi; Basu, Sudipta
作者单位：Minnesota State Colleges & Universities; Saint Cloud State University; University of Virginia; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
摘要：We study the influence of bank competition on U.S. public borrowers' accounting conservatism by exploiting the staggered adoption of the Riegle-Neal Interstate Banking and Branching Efficiency Act (IBBEA) of 1994, which increased the threats of new bank entrants and actual bank entry. We find that borrowers' conditional conservatism fell after IBBEA. Conservatism fell more for firms located in states with weak incumbent banks and states with more out-of-state entrants, especially entrants with...
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作者：Booker, Adam; Curtis, Asher; Richardson, Vernon J.
作者单位：University of Denver; University of Washington; University of Washington Seattle; University of Arkansas System; University of Arkansas Fayetteville; City University of New York (CUNY) System; Baruch College (CUNY)
摘要：We use posts on the investor-focused StockTwits social media network to generate new insights regarding investor disagreement, disclosure processing costs, and trading volume around earnings announcements. Using social media-based measures of disagreement, we find that both preannouncement disagreement and increases in disagreement around an earnings announcement are positively associated with trading volume. Drawing upon the disclosure processing costs literature, we provide evidence that the...
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作者：Gunn, Joshua L.; Li, Chan; Liao, Lin; Zhou, Shan
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Kansas; Nanjing Audit University; University of Sydney
摘要：Audits of internal control over financial reporting (ICFR) are typically integrated with the audit of the financial statements (FSs)-both audits are conducted by the same audit firm, which designs procedures to satisfy the objectives of both audits simultaneously. A common assumption is that integrating the two audits is more effective and efficient than performing them separately. However, this assumption has not been tested empirically. Using a sample of Chinese companies that employ differe...
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作者：Heese, Jonas; Perez-Cavazos, Gerardo; Peter, Caspar David
作者单位：Harvard University; University of California System; University of California San Diego; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：We study the effect of executives' pledges of integrity on firms' financial reporting outcomes by exploiting a 2016 regulation that requires holders of Dutch professional accounting degrees to pledge an integrity oath. We identify chief executive officers (CEOs) and chief financial officers (CFOs) required to take the integrity oath and find that firms reduce income-increasing discretionary accruals after executives took the oath. These firms also reduce discretionary expenditures, indicating ...
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作者：Dodgson, Mary Kate; Agoglia, Christopher P.; Bennett, G. Bradley
作者单位：Lehigh University; University of Massachusetts System; University of Massachusetts Amherst
摘要：During the interactive process of issue resolution, client managers may develop expectations about the auditor's position. We examine the effect that negative expectancy violations have on managers' pre-negotiation positions and how relational familiarity can moderate this effect. Through a series of experiments, we find that, when the partner's proposed adjustment is within the client's original expectations, managers offer greater concessions to a more familiar partner than to a less familia...
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作者：Hoitash, Rani; Hoitash, Udi; Kurt, Ahmet C.; Verdi, Rodrigo S.
作者单位：Bentley University; Northeastern University; Massachusetts Institute of Technology (MIT)
摘要：We propose a pairwise measure of financial statement benchmarking (FSB) that captures the degree of overlap in the financial statement line items reported by two firms. We validate FSB by showing its association with actual peer choices of analysts and corporate boards. We then test the practical implications of FSB in the context of strategic peer selection by these parties. We find that analyst (board) chosen peers with low pairwise FSB are more likely to be strategic selections and that the...
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作者：Lamoreaux, Phillip T.; Mowchan, Michael; Zhang, Wei
作者单位：Arizona State University; Arizona State University-Downtown Phoenix; Baylor University; University of Massachusetts System; University of Massachusetts Amherst
摘要：Regulatory economics suggests that one benefit of public enforcement is the deterrence of improper conduct. Using a difference-in-differences (DiD) design, we investigate whether a deterrence effect follows the revelation of Public Company Accounting Oversight Board (PCAOB) enforcement. We find that large audit firm offices improve audit quality following enforcement naming another office within their firm while small firm offices improve following enforcement of local small firm competitors, ...
