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作者：Burke, Joseph
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：Distinguishing high-performing employees imposes choices on managers: Is recognition most effectively delivered publicly or privately? If delivered publicly, what setting is best? This paper broadens the accounting literature on the implications of these decisions. Via experiment, I examine how the social bond between recognized employees and those observing the recognition influences the effect of recognition visibility on employee behavior. I find that with weak social bonds, public recognit...
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作者：Fiechter, Peter; Novotny-Farkas, Zoltan; Renders, Annelies
作者单位：University of Neuchatel; Vienna University of Economics & Business; Maastricht University
摘要：Exploiting detailed disclosures mandated by Accounting Standard Codification (ASC) 820, we provide evidence for the return relevance of Level 3 fair value remeasurements for a comprehensive sample of U.S. listed banks. We find that Level 3 remeasurements recognized in earnings are more return relevant than those recognized in other comprehensive income (OCI). Our results suggest that Level 3 remeasurements in OCI partially reflect transitory illiquidity discounts that are less relevant when ba...
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作者：Binz, Oliver
作者单位：INSEAD Business School
摘要：This paper examines how agents' response to macroeconomic uncertainty affects firms' revenues, expenses, and profitability in a global sample of firms spanning 1997 to 2018. Consistent with consumers reducing purchases and managers cutting costs, I find that increases in macroeconomic uncertainty lead to both lower revenues and lower expenses. The net short-term effect on profitability is positive as the reduction in expenses exceeds the fall in revenues. This favorable profitability effect is...
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作者：Balakrishnan, Karthik; Gkougkousi, Xanthi; Landsman, Wayne R.; Taori, Peeyush
作者单位：Rice University; University of North Carolina; University of North Carolina Chapel Hill; University of Hong Kong
摘要：This study examines how the market share of dark venues changes at earnings announcements. Our analysis shows a statistically significant increase in dark market share in the weeks prior to, during, and following the earnings announcement. We also predict and find evidence that increases in dark market share around earnings announcements are higher for firms with high-quality accounting information. In addition, we find a positive relation between the change in dark market share and the speed ...
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作者：Ben-Rephael, Azi; Da, Zhi; Easton, Peter D.; Israelsen, Ryan D.
作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark; University of Notre Dame; Michigan State University; Michigan State University's Broad College of Business
摘要：The SEC requires public companies to disclose material information on Form 8-K within four days of a triggering event. We show that on 8-K event and filing dates, there is significant abnormal attention on Bloomberg terminals, which are a source of information for institutional investors, while traditional media attention tends to be higher on filing days. Significant price discovery occurs on the event date and on the days between that day and the filing date. The traditional media coverage o...
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作者：Huo, Kun; Kelly, Khim; Webb, Alan
作者单位：Western University (University of Western Ontario); State University System of Florida; University of Central Florida; University of Waterloo
摘要：Firms often use causal models to align decision-making with strategic objectives. However, firms often operate in changing environments such that an accurate causal model can become inaccurate. Prior research has not examined the consequences that a change in the accuracy of causal models may have for managerial learning. Using an experiment, we predict and find that providing an accurate causal model positively affects managerial learning, and this positive effect is not reduced by encouragin...
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作者：Law, Kelvin K. F.; Mills, Lillian F.
作者单位：Nanyang Technological University; University of Texas System; University of Texas Austin
摘要：Users of Exhibit 21 cannot tell whether a tax haven subsidiary is actively operating or a dormant shell company. In this paper, we develop a new set of parsimonious measures to highlight the distinct mechanisms and tax effects of offshore sales to, as opposed to purchases from, tax haven countries, offering insights on the effects of certain types of offshoring activities on firms' tax burdens. Our main measure has about three times the effect of the mere existence of a haven subsidiary in exp...
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作者：Carrizosa, Richard D.; Cazier, Richard A.
作者单位：University of North Carolina; University of North Carolina Charlotte; University of North Texas System; University of North Texas Denton
摘要：Prior research documents a negative stock price reaction to initial securities lawsuit filings, on average. Prior research provides no evidence, however, regarding whether and how the market prices information subsequently generated by the litigation process. We examine the market response to a large sample of initial plaintiff complaints and subsequent docket events. Our results are consistent with the market pricing information about issues both systemic to the firm and specific to the pendi...
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作者：Chan, Derek K. W.; Liu, Nanqin
作者单位：University of Hong Kong; Southern University of Science & Technology
摘要：This paper presents an economic framework to study strategic interactions along the analyst-auditor -owner disciplinary chain, in which the auditor examines the financial reports prepared by the owner, and the analyst uncovers financial misreporting, as well as audit failure. We find that although analyst scrutiny ex post detects misreporting, it ex ante aggravates the owner's misreporting behavior and further impairs financial statement reliability if the legal penalties for the auditor and t...
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作者：Dechow, Patricia M.; Larson, Chad R.; Resutek, Robert J.
作者单位：University of Southern California; University of Houston System; University of Houston; University System of Georgia; University of Georgia
摘要：We investigate the impact of the mixed attribute GAAP measurement model on accrual quality inferences. GAAP rules vary from an income statement matchingfocus to a balance sheet fair-valuefocus. Accrual properties are also affected by the business activity being measured and the activity's recurrence. Furthermore, accrual measurement is affected by managerial estimation error/manipulation. As a consequence, accruals are heterogeneous with predictably different statistical properties. We constru...
