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作者：Minnis, Michael
作者单位：University of Chicago
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作者：Tan, Hun-Tong; Wang, Elaine Ying; Zhou, Bo
作者单位：Nanyang Technological University; University of Massachusetts System; University of Massachusetts Amherst; Shanghai University of Finance & Economics
摘要：We conduct two experiments to investigate how readability (high versus low) and benchmark performance consistency (consistent versus inconsistent) influence investors' judgments. Using prior management guidance and year-ago quarter performance as two benchmarks against which to assess actual earnings performance, we manipulate whether the valence of guidance performance (positive or negative) and the valence of trend performance (positive or negative) are consistent with each other. We also ma...
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作者：Partnoy, Frank
作者单位：University of San Diego
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作者：Jha, Anand; Chen, Yu
作者单位：Texas A&M University System; Texas A&M International University
摘要：We examine the impact of social capital on audit fees. We find that firms headquartered in U.S. counties with high social capital pay lower audit fees. Social capital measures the level of mutual trust in a region. Our results suggest that auditors judge the trustworthiness of their clients based on where the firm is headquartered and charge a premium when they trust the firm less. The basis of our results is the examination of more than 28,000 audit fees for more than 5,000 firms spanning the...
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作者：Bonaime, Alice Adams
作者单位：University of Kentucky
摘要：This paper examines changes in corporate behavior around the 2003 modification to SEC Rule 10b-18, which mandates enhanced disclosure of repurchase transactions. Firms announce significantly fewer and slightly smaller open market repurchase plans in the enhanced disclosure environment. However, completion rates (the amount of stock repurchased as a percentage of the announced amount) significantly increase. More conservative announcement strategies and more aggressive completion rates are cons...
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作者：Bauer, Tim D.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：Considerable recent audit regulation, both proposed and mandated, and accounting research has focused on auditor independence threats arising over long auditor tenure. Psychology research, however, suggests independence threats also likely arise when auditor tenure is short because auditors can quickly develop a strong client identity, raising questions about the effectiveness of mandatory audit partner or firm rotation to address independence concerns. Relying on Social Identity Theory, I exa...
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作者：Hales, Jeffrey; Wang, Laura W.; Williamson, Michael G.
作者单位：University System of Georgia; Georgia Institute of Technology; University of Illinois System; University of Illinois Urbana-Champaign; University of Texas System; University of Texas Austin
摘要：We investigate a potential selection benefit of stock-based compensation for rank-and-file employees, whose pay under this compensation form is insensitive to their individual efforts. We use a laboratory experiment to demonstrate that individuals with higher levels of dispositional optimism are more likely to choose compensation that is contingent on a company's future stock price than to choose fixed pay, even after controlling for the individual's risk preferences. Furthermore, compared to ...
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作者：Hunton, James E.; McEwen, Ruth Ann
作者单位：State University System of Florida; University of South Florida; Virginia Commonwealth University
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作者：Hooks, Karen L.
作者单位：State University System of Florida; Florida Atlantic University
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作者：Jack, Lisa
作者单位：University of Portsmouth
