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作者：Law, Kelvin K. F.; Tan, Jingdan
作者单位：Nanyang Technological University; Hong Kong Polytechnic University
摘要：Using data from over 4,000 Black Lives Matter (BLM) protests across 600 U.S. counties from 2014 to 2021, we examine how BLM activism shapes corporate diversity at different organizational levels. We develop an approach integrating OpenAI's GPT-4 with Chain-of-Thought prompting to classify race and ethnicity. In our validation tests, this method achieves higher accuracy than several tested open-source algorithms. Our main findings are as follows. First, although firms headquartered in protest-a...
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作者：Li, Xiaoxing; Brazel, Joseph F.; Gold, Anna; Leiby, Justin
作者单位：Norwegian School of Economics (NHH); North Carolina State University; Vrije Universiteit Amsterdam; University of Illinois System; University of Illinois Urbana-Champaign
摘要：As the use of audit data analytic tests (ADA) becomes increasingly established in practice, auditors will often confront situations in which they inherit ADA developed by others, as opposed to developing the ADA themselves. Despite the potential benefits of ADA, inheriting ADA could decrease auditors' skeptical actions by diminishing their psychological ownership of the ADA. In an experiment where an ADA identifies a fraud red flag, we find that auditors who inherited the ADA are less likely t...
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作者：Anderson, Chelsea M.; Fang, Vivian W.; Moon Jr, James R.; Shipman, Jonathan E.
作者单位：University System of Ohio; University of Cincinnati; Indiana University System; Indiana University Bloomington; University System of Georgia; Georgia Institute of Technology; University of Arkansas System; University of Arkansas Fayetteville
摘要：This paper explores U.S. public firms' cryptocurrency holdings and accounting practices from 2013 to 2022 against the backdrop of the recently enacted crypto accounting rule, ASU 2023-08. Descriptive analyses suggest exponential growth in corporate crypto holdings and significant variation in crypto accounting practices, underscoring the rule's necessity. Hypothesis tests using the pre-rule data reveal three insights with direct relevance to the rule. First, firms appear to view crypto assets ...
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作者：Carson, Elizabeth; Lamoreaux, Phillip; Simnett, Roger; Thurheimer, Ulrike; Vanstraelen, Ann
作者单位：Royal Melbourne Institute of Technology (RMIT); Arizona State University; Arizona State University-Tempe; University of New South Wales Sydney; Deakin University; University of Amsterdam; Maastricht University; University of Antwerp
摘要：We investigate the establishment of public audit oversight bodies (POBs) worldwide. We present descriptive evidence on POBs' characteristics and factors influencing the timing of their establishment, finding that countries with stronger institutions, civil law traditions, and higher media attention to audit quality adopt POBs faster. While countries may choose similar POB design features, these choices do not align with the factors driving adoption speed. We also explore whether the finding of...
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作者：Moreta, Antonio
作者单位：Pontificia Universidad Catolica de Chile
摘要：This paper studies the effect of reporting regulation on private firms' bank credit and its economic consequences. I exploit the Spanish institutional setting, which provides a unique combination of confidential loan data and regulatory features that generate quasi-exogenous variation in reporting regulation. Using a regression discontinuity design, I find that firms subject to incremental reporting regulation obtain more bank credit primarily through cash flow-based lending, term loans, and l...
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作者：Shanthikumar, Devin; Yoo, Il Sun
作者单位：University of California System; University of California Irvine; Singapore Management University
摘要：We examine how analysts' information acquisition and processing differ when analysts have access to AI resources, focusing on investment banks' AI investments. We propose and test a two-step framework, which is informed by in-depth interviews with analysts. First, consistent with AI facilitating automation-assisted public information processing, we show that AI investments are associated with more timely earnings forecasts following 10-K filings, particularly after the implementation of iXBRL,...
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作者：Croom, Joe
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：I use the setting of generative AI (GenAI) to examine how processing tool interactivity affects investors' self-assessments of ability and willingness to invest. Although GenAI can help investors process financial information, I theorize that the interactive nature of GenAI blurs the boundaries between investors' own abilities and those of GenAI, prompting investors to discount their reliance on GenAI and misattribute its abilities to themselves. I rely on the advantages of a laboratory settin...
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作者：Tang, Dragon Yongjun; Yan, Jiali; Yao, Yaqiong
作者单位：University of Hong Kong; University of Exeter; Lancaster University
摘要：We examine whether and how common ownership affects Environmental, Social, and Governance (ESG) ratings-an important research question given the increasing use of these ratings in investment decisions and corporate evaluations. We find that companies with major shareholders in common with the rating agency (sister firms) tend to receive higher ESG ratings. When a company becomes a sister firm through a change in the rating agency's ownership structure, its rating from that agency is subsequent...
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作者：Lee, Jimmy; Ng, Shaphan; Yoo, Il Sun; Zhang, Liandong
作者单位：Singapore Management University; University of Hawaii System; University of Hawaii Manoa
摘要：The protection of free speech enhances the ability of various public stakeholders to disseminate privately observed adverse information about public firms, making it difficult for corporate managers to conceal negative information about their companies. Using the staggered enactment of anti-strategic lawsuit against public participation (anti-SLAPP) laws across U.S. states as a shock that strengthens free speech protection, we show that stronger protection is associated with less concealment o...
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作者：Lu, Yifei; Wu, Joanna Shuang; Yang, Yucheng (John)
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Rochester; Chinese University of Hong Kong
摘要：We study how foreign investors' access to corporate information varies with pairwise geopolitical tensions between the investor's and investee's countries. Using a sample of 1,760 country-pairs, we find that geopolitical tensions between a conference call host firm's country and a foreign country relate negatively with investor participation from that foreign country as well as the quality and tone of management responses in the call, suggesting reduced foreign investor information access with...
