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作者：Abdel-Meguid, Ahmed; Jennings, Jared N.; Olsen, Kari Joseph; Soliman, Mark T.
作者单位：Egyptian Knowledge Bank (EKB); American University Cairo; Washington University (WUSTL); Utah System of Higher Education; Utah Valley University; University of Southern California
摘要：Non-GAAP earnings provide managers the flexibility to exclude GAAP items to either produce a more informative performance measure or provide them the ability to opportunistically exclude recurring expenses from non-GAAP earnings. Prior literature examines the use of this form of disclosure at the firm level, although it is ultimately management's decision. We extend prior non-GAAP literature by examining whether the use and quality of non-GAAP earnings is influenced by CEO personality traits, ...
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作者：Bourveau, Thomas; Law, Kelvin K. F.
作者单位：Columbia University; Nanyang Technological University
摘要：This study examines whether disruptive life events affect how analysts assess risk. We exploit the staggered arrival of hurricanes between 1996 and 2009 at analysts' office locations across the United States as a plausibly exogenous shock in the analysts' experience of disruptive life events. We show in a difference-in-differences setting that relative to non-affected analysts, analysts in states affected by hurricanes issue less optimistic forecasts for non-affected firms after hurricanes. Th...
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作者：Chung, Byung Hun; Hribar, Paul
作者单位：Nanyang Technological University; University of Iowa
摘要：We use survival analysis techniques to examine whether overconfidence affects the likelihood and timeliness of goodwill impairments. We predict that overconfident CEOs have a lower likelihood of impairment in any firm-quarter, and take longer, on average, to impair goodwill. Using the Cox proportional-hazards model and the accelerated failure time model, we find evidence consistent with both predictions. In cross-sectional tests, we find having more financial experts on the board mitigates the...
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作者：Young, Donald
作者单位：Indiana University System; Indiana University Bloomington
摘要：This study examines how the source and nature of reporting standards jointly influence compliance with those standards. More specifically, I examine how decision makers' identification with the source of the standards moderates compliance with different types of standards. Type refers to whether the accounting standard is descriptive or injunctive (i.e., prescriptive). Source refers to the entity promulgating the accounting standards. I conduct three experiments in which participants face a di...
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作者：McAllister, Michelle; Blay, Allen D.; Kadous, Kathryn
作者单位：Northern Arizona University; State University System of Florida; Florida State University; Emory University
摘要：We experimentally examine the effects of trait professional skepticism on fraud brainstorming performance. We find that groups with a minority, but not a majority, of high trait skeptics develop more fraud ideas than control groups with no high trait skeptics. Mediation analyses indicate that minority high trait skeptic groups also assess higher fraud risk, in part because they consider more fraud ideas. Low trait skeptics who brainstorm in groups with a minority of high trait skeptics tend to...
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作者：Chen, Wen; Wu, Haibin; Zhang, Liandong
作者单位：City University of Hong Kong; Singapore Management University
摘要：This study investigates the effect of managerial sentiment on corporate disclosure decisions. Using terrorist attacks in the United States as adverse shocks to managerial sentiment, we find that firms located in the metropolitan areas attacked issue more negatively biased earnings forecasts. The effect is stronger for firms with higher operating uncertainty and firms with younger, inexperienced, or less confident executives, and it is weaker for firms located in states with increasing violent ...
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作者：Lee, Yoojin; Ng, Shaphan; Shevlin, Terry; Venkat, Aruhn
作者单位：California State University System; California State University Long Beach; Singapore Management University; University of California System; University of California Irvine; University of Texas System; University of Texas Austin
摘要：We examine whether employee perceptions of managers and firms fall following tax avoidance news. Using S&P 500 firms and generalized difference-in-differences specifications, we find that tax avoidance news negatively affects employee perceptions of managers and firms. In cross-sectional tests, we find that (1) firms and managers in consumer-facing industries suffer larger employee-related perception changes from tax avoidance news compared to other firms, and (2) well-performing firms and the...
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作者：Aghamolla, Cyrus; Guttman, Ilan
作者单位：University of Minnesota System; University of Minnesota Twin Cities; New York University
摘要：We study a dynamic timing game between multiple firms, who decide when to go public in the presence of possible information externalities. A firm's IPO pricing is a function of its privately observed idiosyncratic type and the level of investor sentiment, which follows a stochastic, mean-reverting process. Firms may wish to delay their IPOs in order to observe the market reception of the offerings of their peers. We characterize the unique symmetric threshold equilibrium, whereby pioneer firms...
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作者：He, Shaohua; Wang, K. Philip; Lisic, Ling Lei; Tan, Liang
作者单位：Lancaster University; Virginia Polytechnic Institute & State University; State University System of Florida; University of Florida
摘要：Whether audit firms should disclose financial statements is controversial among investors, practitioners, and regulators. The debate centers on whether audit firms' financial statements provide information about audit quality. Using hand-collected data from U.K. audit firms' financial statements, we construct four measures that capture audit firms' resource investments (i.e., human capital, workplace environment, technologies) and risk exposures (i.e., litigation provisions). We find that incr...
