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• Interplay between Accounting and Prudential Regulation AI翻译
  作者：Bertomeu, Jeremy; Mahieux, Lucas; Sapra, Haresh
  作者单位：Washington University (WUSTL); Tilburg University; University of Chicago
  摘要：We develop a model in which accounting information and prudential regulation interact to affect banks' incentives to originate loans. Prudential regulators impose capital requirements to prevent banks from taking excessive risk. However, regulators cannot commit to ex ante efficient intervention and, instead, respond to ex post accounting information. We show that capital requirements and accounting measurement are substitutes when considered separately. By contrast, when considered jointly, a...
• Do Shared Auditors Improve Audit Quality? Evidence from Banking Relationships AI翻译
  作者：Ton, Karen
  作者单位：Villanova University
  摘要：Auditor knowledge is a key element in explaining the supply of audit quality, yet understanding of the drivers of this knowledge in the archival literature is limited. This study uses an archival approach to examine whether the sharing of auditors among firms in banking relationships results in information transfers that improve audit quality. I find that audit quality improves for both borrowers and lenders who share the same auditor office. Specifically, lenders who share an auditor office w...
• The Effect of Supervisors' Prior Task Performance on Employees' Targets AI翻译
  作者：Feichter, Christoph
  作者单位：Vienna University of Economics & Business
  摘要：In three experiments, I investigate how supervisors' task performance in lower-level jobs prior to being promoted to the supervisory level influences the targets they set for employees. I propose that supervisors show an experience bias by which they overemphasize their own experiences when setting targets for employees. As such, supervisors who achieved high performance before being promoted set higher targets than low-performing supervisors, despite having the same information about the empl...
• Mark-to-Market, Loan Retention, and Loan Origination AI翻译
  作者：Gao, Pingyang; Bleck, Alexander
  作者单位：University of Hong Kong; University of Chicago
  摘要：We study the effects of mark-to-market accounting (MTM) for banks following the originate-to-distribute lending model. Banks have expertise in originating loans, but it is costly for them to retain the loans on their books. We study how the accounting measurement of the retained loans affects the banks' origination and retention decisions. We show that, relative to historic cost accounting (HC), MTM has three consequences. First, it improves the accuracy of loan measurement ex post. Second, it...
• Investor Disagreement, Disclosure Processing Costs, and Trading Volume Evidence from Social Media AI翻译
  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...
• Is It Better to Kill Two Birds with One Stone? Internal Control Audit Quality and Audit Costs for Integrated versus Nonintegrated Audits AI翻译
  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...
• Using Economic Links between Firms to Detect Accounting Fraud AI翻译
  作者：Li, Chenchen; Li, Ningzhong; Zhang, Frank
  作者单位：Nanjing University; University of Texas System; University of Texas Dallas; Yale University
  摘要：We explore whether accounting fraud can be detected using the information of firms economically linked to a focal firm. Specifically, we examine whether customer information disclosed by a supplier firm, combined with customers' accounting information, helps to detect the supplier's revenue fraud. We first confirm the economic link between the supplier and customers by showing a strong positive correlation between the supplier's sales growth and the growth rate of total customer purchases. We ...
• Ambiguous Sticks and Carrots: The Effect of Contract Framing and Payoff Ambiguity on Employee Effort AI翻译
  作者：Burke, Joseph; Towry, Kristy L.; Young, Donald; Zureich, Jacob
  作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; Emory University; Tilburg University
  摘要：Research suggests that employees work harder under penalty contracts than under economically equivalent bonus contracts. We build on this literature by examining how the motivational advantage of penalty contracts depends on a common aspect of real-world contracts: payoff ambiguity. With payoff ambiguity, employees provide effort without knowing how much pay they will receive for a given level of performance. According to our theory, this ambiguity opens the door for employee optimism, which h...