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作者：Du, Kai; Louis, Henock; Schmidt, Brent A.; Wang, Shuyang
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Northeastern University
摘要：Using a dataset constructed through textual analysis and manual data collection, we show that, prior to ASC 606, firms with principal-versus-agent (PA) exposure face heightened GAAP compliance risk, reflected in a greater likelihood of receiving revenue-related SEC comment letters and higher audit fees. Following the adoption of ASC 606, these differences decline, consistent with the standard's stated goal of simplifying PA assessments and reducing implementation challenges. Overall, our findi...
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作者：Khan, Urooj; Nissim, Doron; Wen, Jing
作者单位：University of Texas System; University of Texas Austin; Columbia University; City University of Hong Kong
摘要：Public financial information plays a critical role in the takeover market by helping acquirers search for and value potential targets. Using a difference-in-differences research design around a regulatory disclosure mandate that changed the granularity of financial disclosure for certain privately held banks, we find that banks with reduced disclosure are less likely to be targeted in M&A transactions. Acquirers adapt to information frictions arising from reduced disclosures by bidding for geo...
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作者：Bach, Amadeus; Onori, Simona; Reichelstein, Stefan; Zhuang, Jihan
作者单位：University of Mannheim; Stanford University; Stanford University
摘要：In response to growing economic and environmental concerns, companies in a range of industries seek to repurpose products (assets) that retain functional capacity beyond their initial first life. This paper examines a generic valuation model for used capacity assets that can either be recycled immediately or repurposed for a second life application. We apply our model framework to lithium-ion batteries retired from electric vehicles, as these assets typically retain substantial energy storage ...
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作者：Lyu, Yuanzhen
作者单位：Peking University
摘要：This paper provides evidence that the mean and dispersion of manufacturers' inventory growth, as reflected in accounting disclosures, convey valuable information about subsequent changes in economic output growth. At the same time, I find that although government statistical agencies and professional forecasters incorporate mean inventory growth in their estimates or forecasts, they fail to account for its dispersion. I develop and calibrate a heterogeneous-firm model to show that the leading ...
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作者：Arya, Anil; Ramanan, Ram N. V.
作者单位：University System of Ohio; Ohio State University; Indian School of Business (ISB)
摘要：The once binary make-or-buy choice in firms' sourcing has evolved in recent years into what is often a make-and-buy decision where the same input is both produced internally and procured externally. This paper presents a novel explanation for concurrent sourcing, one rooted in firms' strategic positioning and intrinsically tied to their capacity choices. In our setting, a firm that chooses solely to make internally maximizes cost savings but prices away efficiency gains via intense retail comp...
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作者：Chen, Xi (Novia); Kim, Jungbae; Lourie, Ben; Zhu, Chenqi
作者单位：University of Houston System; University of Houston; Singapore Management University; University of California System; University of California Irvine
摘要：Over three-quarters of U.S. taxpayers receive federal tax refunds, largely due to income tax over-withholding. This study explores how over-withholding impacts investments by comparing individuals' investment behavior following wage receipts and tax refunds. We find a significantly higher marginal propensity to invest out of wages than refunds, suggesting that over-withholding, which alters the labeling and timing of income, meaningfully influences financial decision-making. Our cross-sectiona...
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作者：Magee, Gregory A.; Mussa, Firas F.
作者单位：NYU Langone Medical Center
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作者：Samet, Jordan A.; Williamson, Michael G.; Yip, Michael A.
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; University of Illinois System; University of Illinois Urbana-Champaign; University System of Georgia; University of Georgia
摘要：Results from multiple experiments demonstrate that evaluators more favorably evaluate creative output produced by designers with higher expertise, even when the underlying creativity of the output is held constant (hereafter, expertise bias). We find, however, that this bias is mitigated when evaluators know that Artificial Intelligence (AI) can augment creative design processes, because AI's capabilities reduce the perceived exclusivity of designers' domain expertise. We also show that design...
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作者：Wang, Danye
作者单位：University of Iowa
摘要：Labor unions are central to promoting worker protection and fairness, yet misconduct can undermine their ability to advocate. Despite over 60 years of regulations requiring unions to file financial reports, debate persists about those rules' effectiveness. Proponents argue that transparency exposes wrongdoing, whereas critics question whether reporting constrains misconduct. Accounting research shows that financial information can uncover fraud in public firms, but its generalizability to unio...
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作者：Yang, Liu; Zhu, Min
作者单位：University of Wyoming; University of Queensland
摘要：Accounting misstatements are often detected with substantial delays, leading to look-ahead bias in model predictions if the detection lag is not considered. Moreover, the misstatement data-generating process is evolving due to regulatory regime shifts, further complicating the evaluation of model predictions. We design an approach that accounts for detection lags and continuously updates models to adapt to the changing datagenerating process. By comparing with the conventional approach that ig...
