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作者：Hopland, Arnt O.; Lisowsky, Petro; Mardan, Mohammed; Schindler, Dirk
作者单位：Norwegian School of Economics (NHH); University of Illinois System; University of Illinois Urbana-Champaign; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：This study examines the flexibility of multinational firms to adjust their income-shifting strategies-whether using transfer pricing or internal debt-during the tax year to react to affiliates' operating losses. We develop the concept that under flexibility, multinationals can adjust their inter-affiliate payments ex post (i.e., after financial outcomes are revealed, but before the end of the tax year) to minimize worldwide tax payments. Without flexibility, multinationals must commit to their...
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作者：Chan, Eric W.
作者单位：University of Texas System; University of Texas Austin
摘要：I examine the effects of providing workers with relative performance information (RPI) on employers' promotion decisions and the impact of those decisions on worker performance. In my experimental setting, the job after promotion requires higher-level abilities than the current job. I find that workers increase their effort to improve their current job performance after a promotion opportunity is announced because they expect this to increase their chances of promotion, even though the new tas...
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作者：Balakrishnan, Karthik; Ertan, Aytekin
作者单位：University of London; London Business School
摘要：We examine the effects of banks' financial reporting frequency from 2000 to 2014 and find that quarterly reporting improves their loan portfolio quality. Sample banks experience a relative decrease of about 11 percent in their nonperforming loans after switching to quarterly financial disclosures. Consistent with market discipline enhancing lending practices, these results are stronger in regimes with weaker depositor insurance and external monitoring, and in those with stronger capital market...
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作者：Liu, Alfred Zhu; Subramanyam, K. R.; Zhang, Jieying; Shi, Charles
作者单位：State University of New York (SUNY) System; University at Albany, SUNY; University of Southern California; University of Texas System; University of Texas Dallas; National University of Singapore
摘要：We investigate whether issuers on negative credit watch manage earnings upward and whether such earnings management favorably influences the watch resolution. We find that rating, industry, and performance matched discretionary accruals reported during negative watch are significantly higher than their respective pre- and post-watch levels, after controlling for accrual reversal. Consistent with its opportunistic nature, we find that accrual management increases with issuers' incentives to avo...
