-
作者：Chen, Novia; Hutchens, Michelle; Xia, Junwei
作者单位：University of Houston System; University of Houston; University of Illinois System; University of Illinois Urbana-Champaign; University of North Carolina; University of North Carolina Charlotte; University of Illinois System; University of Illinois Urbana-Champaign
摘要：The municipal bond market has long been criticized for its lack of disclosure, which prior research often attributes to weak regulatory oversight. We offer another explanation: tax clienteles. Most municipal bonds are tax-exempt, and thus primarily attract high-tax retail investors, who may lack the incentive or ability to demand or monitor disclosures. In contrast, taxable bonds attract a broader investor base, including institutional investors who can demand disclosure. We find that issuers ...
-
作者：Du, Kai; Huddart, Steven; Jiang, Xin Daniel
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Waterloo
-
作者：Friedman, Henry; Sutherland, Andrew G.; Vetter, Felix W.
作者单位：University of California System; University of California Los Angeles
摘要：Since 2011, there has been a substantial decline in the number of students graduating from college with accounting majors. We help explain this decline by empirically showing that technological advancement is associated with lower relative demand from employers for accounting majors compared to other business majors, especially finance. Specifically, corporate software investment is associated with lower relative wages and employment for accounting majors. Crosssectional tests point to these f...
-
作者：Armstrong, Daphne M.; Glaeser, Stephen
作者单位：University of Michigan System; University of Michigan; University of North Carolina; University of North Carolina Chapel Hill
摘要：We examine whether taxpayer assistance with tax filing and compliance affects entrepreneurship. Taxpayer Assistance Centers help taxpayers, including entrepreneurs, to correctly file their taxes and navigate the tax system. We find that Taxpayer Assistance Centers positively associate with local entrepreneur entry and with overall Schedule C business income levels. We conclude that taxpayer assistance encourages traditional business entrepreneurship by reducing compliance costs that stem from ...
-
作者：Gipper, Brandon; Sequeira, Fiona; Shi, Shawn X.
作者单位：University of Notre Dame; Stanford University; University of Washington; University of Washington Seattle
摘要：We examine whether external assurance improves the quality of firms' carbon accounting. We develop a measure of carbon accounting quality based on the deviation of reported emissions from a model-based expected level and supplement it with two survey-based measures. We show that assurance is associated with higher carbon accounting quality. This association is stronger when firms have weaker pre-existing carbon accounting systems and when assurance is more thorough. Consistent with assurance e...
-
作者：Nathan, Brad; Perez-Truglia, Ricardo; Zentner, Alejandro
作者单位：Rutgers University System; Rutgers University New Brunswick; University of California System; University of California Los Angeles; University of Texas System; University of Texas Dallas
摘要：We provide evidence on the role of perceived fairness in tax compliance. Are households more willing to pay taxes when they believe others contribute their fair share? We investigate this question with a natural field experiment in the context of U.S. property taxes. Using an information-disclosure experiment, we exogenously shifted households' perceptions of the average tax rate paid by others. We find that higher perceived average tax rates increase perceptions of fairness and reduce the lik...
-
作者：Blankespoor, Elizabeth; deHaan, Ed; Guay, Wayne; Lang, Mark; Shroff, Nemit; Smith, Kevin; Wu, Joanna
-
作者：Aobdia, Daniel; Yoon, Aaron
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Northwestern University
摘要：We exploit a unique dataset to examine how auditors integrate financially material environmental, social, and governance (ESG) issues into their audits, particularly following the introduction of the Sustainability Accounting Standards Board (SASB) and the 2013 Committee of Sponsoring Organizations (COSO) frameworks, which highlighted the link between ESG and clients' internal control over financial reporting (ICFR). We find that auditors exhibit excessive optimism when evaluating ICFR effecti...
-
作者：Jing, Chenxing; Xu, Bin; Zuo, Luo
作者单位：University of International Business & Economics; University of Reading; National University of Singapore
摘要：We examine whether financial disclosures affect firm sustainability practices. Using mandatory segment reporting in the United States as the setting, we find that disclosing financial information about previously hidden segments in polluting industries reduces toxic emissions from firm plants. This effect is consistent with the notion that segment disclosures enhance monitoring of firm pollution by highlighting the financial materiality of polluting segments and drawing stakeholders' attention...
-
作者：Ball, Ray
作者单位：University of Chicago
摘要：This essay explores the economics of contracting in firms and the role accounting plays in it. It views firms as specialist contracting intermediaries, obtaining scale economies from repetitive contracting with owners of factors of production and consumers. It builds on the Coase (1937) insight that firms exist due to contracting-cost advantages over markets and proposes that common accounting methods are a source of that advantage: that they are contracting-useful. This perspective provides e...
