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作者：Bruynseels, Liesbeth; Cardinaels, Eddy
作者单位：KU Leuven; Tilburg University
摘要：To ensure that audit committees provide sufficient oversight over the auditing process and quality of financial reporting, legislators have imposed stricter requirements on the independence of audit committee members. Although many audit committees appear to be fully'' independent, anecdotal evidence suggests that CEOs often appoint directors from their social networks. Based on a 2004 to 2008 sample of U.S.-listed companies after the Sarbanes-Oxley Act, we find that these social ties have a n...
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作者：Arya, Anil; Mittendorf, Brian G.
作者单位：University System of Ohio; Ohio State University
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作者：Zeff, Stephen A.
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作者：Balsam, Steven; Harris, Erica E.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Rutgers University System; Rutgers University New Brunswick; Rutgers University Camden
摘要：In this paper we show that supporters reduce donations to nonprofits subsequent to disclosure of high executive compensation. We find evidence consistent with large, sophisticated donors actively seeking out and reacting to compensation information made available in IRS Form 990, while smaller donors react to compensation disclosures in the media. Additional analysis indicates that these results vary systematically across nonprofits, as we find a stronger negative relation in nonprofits classi...
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作者：Francis, Jere R.; Pinnuck, Matthew L.; Watanabe, Olena
作者单位：University of Missouri System; University of Missouri Columbia; University of Melbourne; Iowa State University; University of Technology Sydney
摘要：The term audit style is used to characterize the unique set of internal working rules of each Big 4 audit firm for the implementation of auditing standards and the enforcement of GAAP within their clienteles. Audit style implies that two companies audited by the same Big 4 auditor, subject to the same audit style, are more likely to have comparable earnings than two firms audited by two different Big 4 firms with different styles. By comparable we mean that two firms in the same industry and y...
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作者：Shroff, Nemit; Verdi, Rodrigo S.; Yu, Gwen
作者单位：Massachusetts Institute of Technology (MIT); Harvard University
摘要：This paper examines how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries with more transparent information environments are more responsive to local growth opportunities than are those of foreign subsidiaries in country-industries with less transparent information environments. Further, this effect i...
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作者：Drake, Michael S.; Guest, Nicholas M.; Twedt, Brady J.
作者单位：Brigham Young University; Massachusetts Institute of Technology (MIT); Indiana University System; Indiana University Bloomington
摘要：This study investigates the role of the business press in the pricing of accounting information. Using a comprehensive dataset of more than 111,000 earnings-related business press articles published from 2000 to 2010, we find that press coverage of the annual earnings announcement mitigates cash flow mispricing, but has a negligible effect on accrual mispricing. We provide evidence that this impact is driven primarily by the press disseminating the information more broadly, rather than by the ...
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作者：Hoffmann, Sebastian
作者单位：HHL Leipzig Graduate School of Management
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作者：McGuire, Sean T.; Wang, Dechun; Wilson, Ryan J.
作者单位：Texas A&M University System; Texas A&M University College Station; University of Oregon
摘要：This study investigates whether the agency conflicts inherent in a dual class ownership structure are associated with the level of firms' tax avoidance. Dual class ownership presents a unique agency problem because insiders control a majority of the votes of a firm despite having claims to a minority of the firm's cash flows. We examine the level of tax avoidance for a sample of dual class firms and find that the extent of tax avoidance declines as the difference between voting rights and cash...
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作者：Toms, Steven
作者单位：University of Leeds
