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作者：Bradshaw, Mark T.; Ma, Chenyang; Yost, Benjamin P.; Zou, Yuan
作者单位：Boston College; Duke University; Harvard University
摘要：We study the use of generative AI for firm-specific financial analysis on the Seeking Alpha platform. After the initial launch of ChatGPT in November 2022, the share of AI-generated articles rose sharply to 13.5% of all articles, then declined in late 2023 after Seeking Alpha equated the use of AI to plagiarism and announced a prohibition on its use. We organize our study around two questions: (1) Does AI use increase author productivity? and (2) does AI use have capital market consequences an...
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作者：Cao, Sean Shun; Chen, Wilbur Xinyuan; Ma, Guang; Srinivasan, Suraj
作者单位：University System of Maryland; University of Maryland College Park; Hong Kong University of Science & Technology; Rutgers University System; Rutgers University New Brunswick; Harvard University
摘要：We synthesize evidence from six papers presented at the 2025 Journal of Accounting Research Conference on how generative artificial intelligence (GenAI) is reshaping capital-market information flows. Our discussion is organized around an economic framework with three layers: information production by firms and accounting professionals, information dissemination through intermediaries, and information processing by investors. Across these layers, the conference papers show that GenAI can lower ...
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作者：Bianchi, Pietro A.; Francis, Jere R.; Marra, Antonio; Pecchiari, Nicola
作者单位：Bocconi University; University of Missouri System; University of Missouri Columbia
摘要：We investigate the monitoring quality of accountants with ties to the Mafia in their role as auditors for clean firms-those with no known ties to organized crime. Using a proprietary government database, we identify Italian firms with alleged ties to the Mafia through their executives, directors, or shareholders. We define suspect accountants as those who serve as auditors for these Mafia-connected firms, acknowledging their potential associations with criminal entities. We predict and find ev...
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作者：Zhi, Weijia
作者单位：The Chinese University of Hong Kong, Shenzhen
摘要：This study examines the relation between CEOs' preferences for environmental protection (nature-loving preferences) and corporate environmental actions. Drawing on social ecology research, I develop a proxy for CEOs' nature-loving preferences based on their childhood exposure to greenspace and validate it using their positive discussions of nature during earnings conference calls. Findings show a significant positive association between CEOs' nature-loving preferences and their firms' particip...
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作者：Kong, Xiangnian; Na, Ke
作者单位：Nanjing University
摘要：This paper studies shareholder derivative lawsuits related to CEO compensation. We document that compensation lawsuits are more likely to be filed against firms with higher CEO pay, especially in the presence of poor firm performance. Firms reduce the level of CEO compensation after lawsuits, which leads to CEO departures and declines in CEO effort provisions, and consequently, results in deteriorated firm performance. Interestingly, compensation lawsuits accompanied by low support in the prec...
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作者：Choi, Jung Ho; Li, Dan; Macciocchi, Daniele
作者单位：Stanford University; Singapore Management University; University of Miami
摘要：We examine the labor market consequences of the 2020 Regulation S-K requiring human capital disclosure in 10K filings. Using large-sample job-level data and a Generative Large Language Model (GLLM), we observe that public firms subject to the regulation increase their disclosure of diversity, equity, and inclusion (DEI) information in job postings relative to a matched sample of large private firms. The increase in job-posting disclosure is more pronounced among firms facing greater external p...
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作者：Ciconte III, William A.; Kitto, Andrew R.
作者单位：University of Kansas; University of Massachusetts System; University of Massachusetts Amherst
摘要：This study investigates the relation between audit competition, audit quality, and auditor labor hours. Using proprietary data on auditor realization rates, we construct new measures of competition based on theory predicting that abnormal profits will quickly disappear when competition is high but persist over multiple periods when competition is low. We find consistent evidence of persistent abnormal profits among U.S. Big 4 engagements and that individual offices earn persistent abnormal ret...
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作者：Amberger, Harald; Gallemore, John; Wilde, Jaron
作者单位：Vienna University of Economics & Business; University of North Carolina; University of North Carolina Chapel Hill; University of Iowa
摘要：Effective policymakers must balance the demands of formulating a corporate tax system that raises revenue and spurs economic activity (e.g., investment) while promoting a level playing field across firms. Balancing these tradeoffs has likely caused tax systems to become more complex over time, increasing firms' difficulty in understanding and complying with tax regulations. We investigate the impact of tax system complexity on the responsiveness of firm-level investment to tax policy changes. ...
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作者：Kang, Ya; Lin, Yupeng; Qiu, Yang
作者单位：Chinese University of Hong Kong; National University of Singapore; Zhejiang University
摘要：This study examines the spillover effect of bank financial misconduct on the uninsured deposits of peer banks within local markets. We first validate that misconduct banks experience an increase in deposit spreads and a corresponding outflow of deposits following the misconduct. We then show local peer banks exhibit divergent deposit responses, contingent on how misconduct is perceived by information recipients in different economic contexts. During normal periods, depositors receiving a negat...
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作者：Deller, Carolyn; Gallino, Santiago
作者单位：University of Pennsylvania
摘要：This paper explores the influence of two fixed payment arrangements-time-based and output-based wages-on worker behavior and performance in a multidimensional task setting. We examine how these wages affect the time workers spend on individual units of a task and their work quality. We contend that fixed compensation schemes can implicitly communicate standards of acceptable work. Our empirical evidence from MTurk experiments and a laboratory experiment indicates that workers on output-based w...
