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作者：Baloria, Vishal P.
作者单位：University of Connecticut
摘要：Firms supply accounting conservatism in response to debt/equity contracting, litigation, political costs, and taxation demand from stakeholders. I examine whether political connections between U.S. firms and politicians moderate and/or intensify the impact of these demands on the supply of conditional and unconditional conservatism. I measure political connections based on the association between firms' campaign contributions and equity ownership in firms by U.S. House and Senate representativ...
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作者：Griffin, Paul A.; Hong, Hyun A.; Ryou, Ji Woo
作者单位：University of California System; University of California Davis; University of California System; University of California Riverside; West Virginia University
摘要：We examine whether proprietary costs drive R&D-active firms' choice of private loan structure. We find that R&D-active firms are more likely to choose single-lender over multi-lender private loan financing. This is consistent with the theory that high-ability entrepreneurs protect their proprietary knowledge by communicating it to a single lender while disclosing generic and less sensitive information to the public. This propensity, however, significantly decreases after the enactment of the A...
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作者：Anderson, Shannon W.; Cheng, Mandy M.; Phua, Yee Shih
作者单位：University of California System; University of California Davis; University of New South Wales Sydney
摘要：We investigate whether prior collaboration experience affects a focal partner's response to the precision of monitoring controls adopted by a new partner, with consequences for their goodwill trust in, and subsequent cooperation with, the new partner. We expect the partner to interpret their new partner's adoption of precise monitoring controls as either an effort to limit their autonomy or to reduce information asymmetry. The partner's experience with past partners is posited to determine whi...
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作者：Fox, Zackery D.; Jacob, Martin; Wilde, Jaron H.; Wilson, Ryan J.
作者单位：Brigham Young University; WHU - Otto Beisheim School of Management; University of Iowa
摘要：Amid growing globalization, many countries have offered tax incentives to attract corporate investment. Prior research studies the role such incentives play in firms' location and investment choices. However, we have limited evidence regarding the role that uncertainty about the intensity of future tax enforcement plays in those decisions. In 2013, the European Commission (E.C.) abruptly began investigating the tax-ruling practices of several countries in response to allegations that certain f...
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作者：Beneish, Messod D.; Vorst, Patrick
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Maastricht University
摘要：We compare seven fraud prediction models with a cost-based measure that nets the benefits of correctly anticipating instances of fraud against the costs borne by incorrectly flagging non-fraud firms. We find that even the best models trade off false to true positives at rates exceeding 100:1. Indeed, the high number of false positives makes all seven models considered too costly for auditors to implement, even in subsamples where misreporting is more likely. For investors, M-Score and, at high...
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作者：Chan, Eric W.; Evans, John H., III; Hong, Duanping
作者单位：University of Texas System; University of Texas Austin; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University System of Georgia; Kennesaw State University
摘要：We investigate the consequences for non-promoted executives ( NPEs) in CEO tournaments. We find that NPEs' total incentives decrease following the end of a tournament based on evidence of their reduced future promotion prospects and limited adjustments to their compensation. Consistent with the theory that NPEs leave in response to this loss in incentives, results indicate that turnover is higher for NPEs who: (1) are ex ante more competitive for promotion, (2) compete in open tournaments with...
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作者：De Simone, Lisa; Olbert, Marcel
作者单位：University of Texas System; University of Texas Austin; University of London; London Business School
摘要：We investigate the effects of mandatory private Country-by-Country Reporting (CbCR) to European tax authorities on multinational firms' capital and labor investments, as well as their organizational structures. We exploit the threshold-based application of this 2016 disclosure rule to conduct difference-in-differences and regression discontinuity tests. We document increases in capital and labor expenditures in Europe, but these effects are more pronounced in countries with preferential tax re...
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作者：Chang, Linda J.
作者单位：University of New South Wales Sydney
摘要：This study examines how activity-based costing (ABC) cost driver framing affects suppliers' ability to increase their bargaining power when negotiating with powerful customers. Results of an experiment show that suppliers with the potential to contribute to increasing joint profits (high contribution potential) earn a higher share of joint profits than suppliers with low contribution potential. High contribution potential suppliers have higher bargaining power because of their ability to incre...
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作者：Kang, Jun-Koo; Kim, Seil; Oh, Seungjoon
作者单位：Nanyang Technological University; City University of New York (CUNY) System; Baruch College (CUNY); Peking University Shenzhen Graduate School (PKU Shenzhen); Peking University
摘要：We examine whether board demographic diversity enhances cognitive diversity (measured as director dissent in the boardroom) and monitoring. At the director level, we find that individual directors who are dissimilar relative to other board members in terms of tenure and experience are more likely to dissent. At the board level, boards composed of directors who have heterogenous tenure, experience, and gender are more likely to dissent. We also find that stock market reactions to director resig...
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作者：Chen, Xia; Li, Na; Lin, An-Ping
作者单位：Singapore Management University; York University - Canada
摘要：A CFO gap arises when the CFO position is left vacant for a period between the departure of the old CFO and the appointment of a new CFO. We find that CFO gaps are fairly common; over the sample period 20042016, approximately one-third of CFO turnovers are associated with a CFO gap, lasting, on average, two quarters and two months. CFO gaps are more likely for firms that face more labor market search frictions and with financial reporting and performance issues, and are less likely for firms w...
