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作者：Bhattacharjee, Sudip; Hillison, Sean M.; Malone, Carissa L.
作者单位：Virginia Polytechnic Institute & State University
摘要：As remote auditing remains widespread, the profession is concerned that decreased auditor-client interactions and remote supervision challenges can reduce audit quality. In response, some firms have increased supervisor monitoring of remote auditors. We experimentally examine how two key remote audit factors, the spatial distance between auditors and clients and the frequency of supervisor monitoring, influence auditors' judgments in creative tasks. We predict and find that working remotely fa...
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作者：Ma, Yuanyuan
摘要：I study the information content of management voluntary disclosures disciplined by shareholder litigation. I model the litigation mechanism in which legal liabilities are based on the damages that shareholders suffer from buying a stock at an inflated price. I find that management does not fully reveal private information in equilibrium. Instead, their disclosures reveal only a range in which their private information lies. Thus, the precision of information is, to some extent, lost. Notably, ...
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作者：Shroff, Nemit
作者单位：Massachusetts Institute of Technology (MIT)
摘要：This paper examines the effect of the Public Company Accounting Oversight Board (PCAOB) international inspection program on companies' financing and investing decisions. Difference-in-differences regression estimates suggest that companies respond to their auditor receiving a deficiency-free'' inspection report by issuing additional external capital amounting to 1.4 percent of assets and increasing investment by 0.5 percent of assets. These effects are larger for (1) financially constrained co...
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作者：Kunz, Alexis H.; Staehle, Martin
作者单位：University of Bern
摘要：We conduct an experiment to investigate the differential effect of recognizing versus disclosing reasonable and supportable forecasts of future loss conditions on investors' valuation assessments when economic fundamentals either deteriorate or improve. Our main finding is that when entities enjoy growth at constant risk, the accelerated recognition of future loss conditions can induce valuation assessments that are opposed to the entity's enhanced valuation. Supplementary analyses reveal that...
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作者：Ashraf, Musaib; Michas, Paul N.; Russomanno, Dan
作者单位：Michigan State University; University of Arizona
摘要：We examine whether information technology expertise on audit committees impacts the reliability and timeliness of financial reporting. We find a reduction in the likelihood of material restatement, a reduction in the likelihood of information technology-related material weaknesses (which account for 55 percent of all reported material weaknesses), and more timely earnings announcements at firms with audit committee information technology expertise. These findings are robust to controlling for ...
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作者：Christensen, Peter O.; Frimor, Hans
作者单位：University of Southern Denmark
摘要：In a standard financial economics model of asset pricing and value-maximizing firms, we show that better public information about firm-specific and economy-wide events affects the allocation of capital investments among firms and over time. The consequences for capital market outcomes, such as risk, risk premia, interest rates, firm prices, and the cost of capital, depend on investor preferences and whether improvements are to firm-specific or economy-wide information. We show that interest ra...
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作者：Arnold, Markus C.; Hannan, R. Lynn; Tafkov, Ivo D.
作者单位：University of Bern; Tulane University; University System of Georgia; Georgia State University
摘要：This study investigates whether the benefit firms can extract from team member communication to the team manager-who may use such information for rewarding individual team members-is affected by differences in the type of mutual monitoring information available to team members. We predict and find that team performance is higher when team members can observe only each other's effort than when they can observe both each other's effort and output levels; conversely, team performance is lower whe...
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作者：Kelly, Khim; Dinovitzer, Ronit; Gunz, Hugh; Gunz, Sally P.
作者单位：State University System of Florida; University of Central Florida; University of Toronto; University of Waterloo
摘要：This paper examines how the interaction of perceived subjectivity and pay transparency in profit allocation is associated with an important aspect of law partners' professional judgment, namely their tendency to accede to the wishes of their client and fellow partner (labeled hereafter as partner accedence). Based on interviews with 56 corporate law partners working in large Canadian law firms, we find higher partner accedence in a less subjective system than in a more subjective system, but o...
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作者：Lambert, Richard A.
作者单位：University of Pennsylvania
摘要：This paper responds to Hemmer's (2020) critique of Lambert's (1984) paper on income smoothing. Lambert develops and analyzes a two-period agency model in which he shows income smoothing, defined as the second-period action being a decreasing function of the first-period outcome, is part of the equilibrium. Hemmer claims Lambert's analysis contains errors, and that income smoothing does not occur in the model for the reasons Lambert claims. Here, I confirm the Lambert results, show why Hemmer's...
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作者：Clor-Proell, Shana M.; Guggenmos, Ryan D.; Rennekamp, Kristina
作者单位：Texas Christian University; Cornell University
摘要：We examine how information dissemination via mobile device applications (apps) affects nonprofessional investors' judgments. In response to the prevalence of mobile device use, the media ungroups content into smaller pieces to accommodate users, and apps use push notifications to highlight this content. These changes increase users' ability to access investment information in real time, leaving some investors feeling as if they are missing out if they are not continuously connected. We validat...
