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作者：Arnold, Markus C.; Bauch, Kai A.; Elsinger, Florian
作者单位：University of Bern; RPTU University Kaiserslautern; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：We conduct two experiments to investigate the effects of giving subordinates the possibility to return budget surplus on capital budgeting processes. We predict and find that when subordinates face low uncertainty when submitting their budget request, the possibility to return budget surplus increases budget requests compared to not having this possibility but that this effect is mitigated under high uncertainty. We also predict and find that subordinates return more budget surplus under high ...
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作者：Du, Fei; Li, Yudan; Luo, Wei; Ma, Yue
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; South China Normal University; University of Hong Kong
摘要：Using data from a large telecom service provider in China between 2014 and 2019, we examine the impact of being passed over for promotion on subsequent performance for middle managers. Specifically, we find that there is a negative association between high promotion probability and post-pass over performance changes. Such negative association is less pronounced when bonus incentives are stronger and when promotions are more predictable. Our research highlights a hidden cost of promotion incent...
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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：McCallen, Jennifer; Schmardebeck, Roy; Shipman, Jonathan; Whited, Robert L.
作者单位：University System of Georgia; University of Georgia; University of Tennessee System; University of Tennessee Knoxville; University of Arkansas System; University of Arkansas Fayetteville; North Carolina State University
摘要：We examine the consequences of the 2020 amendment to Exchange Act Rule 12b-2, which exempted low-revenue issuers from the ICFR audit requirement and reignited the debate among regulators, issuers, auditors, and academics about the costs and benefits of ICFR audits. We find that exempt issuers rarely obtain ICFR audits voluntarily, indicating they generally do not view such audits as cost beneficial. We also find that exempt issuers report fewer MWs than nonexempt issuers, although this effect ...
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作者：Murphy, Frank; Vernon, Mary E.
作者单位：University of Connecticut; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：This study examines how separately analyzing tax haven countries according to country-level heterogeneity can produce different tax policy inferences. We focus on understanding tax havens with the largest impact on the U.S. corporate tax landscape by modernizing Hines and Rice's (1994) Big 7 classification, focusing on economic nexus. We identify seven tax havens (Top 7) holding a combined 81 percent of all U.S. public corporate tax haven subsidiaries in 2021. Top 7 havens offer a desirable co...
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作者：Pandey, Vivek
作者单位：University of Rochester
摘要：I examine whether contracts that require customers to privately share with suppliers forecasts of their future demand for the supplier's products (demand forecast contracts, or DF contracts) affect the supplier's reliance on an alternative information source-stock prices-when making investment decisions. If suppliers find these forecasts a more direct signal of future demand than stock prices, they may reduce their reliance on stock prices to guide investments. Using hand-collected data, I fin...
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作者：Keeve, Tanja
作者单位：Frankfurt School Finance & Management
摘要：I examine how mandatory ESG disclosure regulations transmit to unregulated firms through ESG rating agencies' peer benchmarking. Using the United Kingdom's 2017 gender pay gap (GPG) disclosure mandate with its expected positive rating consequences for regulated U.K. firms, I show that unregulated firms with similar Refinitiv ESG ratings are significantly more likely to voluntarily disclose GPG information after the mandate. The effect is more pronounced when peers are defined by ESG rating sim...
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作者：Maex, Steven A.
作者单位：George Mason University
摘要：In April 2016, the European Union adopted the General Data Protection Regulation (GDPR), significantly expanding privacy protections for personal data handled by firms. I examine the regulation's impact on U.S. firms' internal information quality (IIQ) and operational efficiency. Although privacy regulations target one subset of firms' information assets (i.e., personal data), they may spur broad improvements in firms' information governance practices and systems, resulting in higher quality i...
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作者：Margolin, Maximilian; Mahlendorf, Matthias D.; Schaffer, Utz
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Frankfurt School Finance & Management; WHU - Otto Beisheim School of Management
摘要：We examine year-to-year adjustments of performance measure weights in managers' incentive contracts. Using survey panel data on financial middle managers over four years, we document that higher target achievement on a given measure is associated with an increase in the measure's relative weight for the subsequent year. We explore three potential explanations for this pattern: retention considerations, managerial influence, and gradual strategic shifts. Consistent with retention considerations...
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作者：Fronk, Karson E.
作者单位：Texas Christian University
摘要：I examine the association between data visualizations in earnings conference call presentations and contemporaneous disclosure processing outcomes. I find that the use of data visualizations in this setting is associated with decreases in abnormal information asymmetry and increases in abnormal market liquidity. In addition, I find that data visualizations help investors process information when investors face greater acquisition and integration costs. Finally, I find that data visualizations ...
