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作者：Chen, Songsheng; Li, Chan; Sun, Lili; Zhang, Xiren
作者单位：Beijing Institute of Technology; University of Kansas; University of North Texas System; University of North Texas Denton; Beijing Institute of Technology
摘要：This study investigates whether auditors incorporate investor information demand when determining key audit matter (KAM) disclosures. We measure investor information demand using a unique dataset of investor inquiries submitted through investor interactive platforms (IIPs) established by China's major stock exchanges. At the topic level, we find that auditors are more likely to disclose a given topic as a KAM when investors raise more inquiries on that topic. At the aggregate level, a higher p...
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作者：Oh, Jun
作者单位：Purdue University System; Purdue University
摘要：I examine how antitrust risk affects firms' voluntary disclosure of mergers and acquisitions (M&As). I hypothesize that firms face a trade-off between the benefits of disclosing M&As to capital markets-namely, incorporating product market benefits into stock prices in a timely manner-and the potential antitrust scrutiny such disclosure can invite, which increases the likelihood of agencies challenging the M&A. Using two quasi-exogenous sources of variations in antitrust enforcement that affect...
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作者：Cho, Isabel J.; Lennox, Clive; Li, Xiangyu
作者单位：University of Southern California
摘要：This study investigates the practice of re-audits-where an incoming audit firm re-audits the prior year's financial statements previously examined by a predecessor audit firm. We examine the costs and benefits of such re-audits. We find that re-audits are more likely when the risks of misstatement are high and when incoming auditors can expect to win more clients by identifying material misstatements overlooked by predecessor auditors. Our results show that incoming auditors who perform re-aud...
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作者：Oh, Jun; She, Guoman
作者单位：Purdue University System; Purdue University; National University of Singapore
摘要：We examine how employee fears of automation-driven job displacement influence corporate disclosure of automation plans. Using a novel measure of local automation fear constructed from cable news transcripts, we document a robust negative relation between automation fear and firms' propensity to provide forward-looking disclosure about automation strategies. This effect strengthens when disclosure conveys incremental information, when automation substitutes for labor, and when firms face greate...
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作者：Shi, Yilin; Wu, Jing; Zhang, Yu; Zhou, Yuqing
作者单位：Fudan University; Chinese University of Hong Kong; Peking University; Nanyang Technological University
摘要：This paper investigates how firms manage supplier disclosures to project a greener supply chain. We show that firms selectively reveal relationships with high-ESG suppliers while withholding ties to low-ESG ones. A shift in the supplier's environmental score from the 10th to the 90th percentile increases disclosure probability by 4.4% relative to the mean disclosure rate. Our analysis suggests this selective disclosure reflects greenwashing rather than genuine communication of supply-chain ESG...
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作者：Carter, Mary Ellen; Lee, Lian Fen; Yu, Enshuai
作者单位：Boston College
摘要：We examine whether the threat of requiring Scope 3 emissions disclosures increases affected firms' preference for greater control over production and GHG emissions, which renders outsourcing to foreign countries less desirable. Using the SEC's March 2021 request for input on climate-related disclosures as a shock to the probability that Scope 3 emissions disclosures would be required, we find that affected firms reduce imports relative to unaffected firms. The reduction is concentrated in firm...
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作者：Matsumoto, Dawn; Li Zhang, Jenny; Zheng, Yuxiang
作者单位：University of Washington; University of Washington Seattle; University of British Columbia; Rutgers University System; Rutgers University Camden; Rutgers University New Brunswick
摘要：We thank the conference participants of the University of Illinois-Chicago Accounting Conference and workshop participants at the University of Notre Dame, Fordham University, Chinese University of Hong Kong for their comments and suggestions. A related version of this paper benefited from the comments of participants at the 2021 HARC Conference and the 2021 FARS Conference, as well as Darren Bernard, Russell Lundholm, Jason Huafeng Chen, Charles Lee, Jesse Chan (discussant), and the workshop ...
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作者：Ghosh, Pulak; Jacob, Martin; Kang, Ya; Zhang, Jian
作者单位：Indian Institute of Management (IIM System); Indian Institute of Management Bangalore; University of Navarra; IESE Business School; Chinese University of Hong Kong; University of Hong Kong
摘要：This paper examines how consumption taxes-through the taxation of input goods-can affect firms' product mix decisions. We study India's staggered transition from a sales tax, where there was the risk that intermediate inputs are taxed multiple times along the supply chain, to a valueadded tax (VAT) that offered credits for taxes paid on inputs. Using detailed product-level data for manufacturing firms and a stacked difference-in-differences design, we find that firms respond to the VAT adoptio...
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作者：Blankespoor, Elizabeth; Croom, Joe; Grant, Stephanie M.
作者单位：University of Washington; University of Washington Seattle; Indiana University System; Pennsylvania State System of Higher Education (PASSHE); Indiana University Bloomington; Indiana University of Pennsylvania; University of Illinois System; University of Illinois Urbana-Champaign
摘要：This paper provides archival and survey evidence on retail investor use of Generative AI (GenAI). Our archival analysis examines over 400,000 investor queries to a major brokerage's GenAI chatbot. Investors most often use GenAI to help interpret and contextualize financial information and market movements, and for additional tasks including stock screening and streamlining complex research. As time with the tool grows, usage shifts from stock screening and high-level company assessments toward...
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作者：Blankespoor, Elizabeth; deHaan, Ed; Guay, Wayne; Lang, Mark; Shroff, Nemit; Smith, Kevin; Wu, Joanna
