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作者：Gu, Tracy; Hui, Kai Wai; Jiang, Yingzhen; Simunic, Dan A.
作者单位：University of Hong Kong; University of Macau; Simon Fraser University; University of British Columbia
摘要：We analyze whether and how the perceived federal-level legal liability linked to federal judge ideology is associated with the likelihood of firms receiving going-concern modified audit opinions and analyze the differential effects on Big 4 and non-Big 4 auditors. We find that Big 4 and non-Big 4 auditors converge in their going-concern reporting decisions in circuits with more liberal judges. This convergence is caused by the greater effect of judge ideology on non-Big 4 auditors. Furthermore...
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作者：Balsam, Steven; Harris, Erica E.; Wong, Paul
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; State University System of Florida; Florida International University; University of California System; University of California Davis
摘要：In 2008, the IRS added several schedules to Form 990, including Schedule R, related party transactions. Utilizing Schedule R, we investigate and descriptively document the existence of related parties and the types of transactions engaged in with those related parties. Then, to provide evidence of the usefulness of these disclosures, we tie into the literature on financial reporting quality. Prior research into financial reporting quality shows that donors discount program ratios when a nonpro...
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作者：Dong, Ting; Kallunki, Juha-Pekka; Nilsson, Henrik; Vanstraelen, Ann
作者单位：Stockholm School of Economics; University of Oulu; Aalto University; Maastricht University; University of Antwerp
摘要：Leadership is considered a core competency for auditors. This study examines how auditors' leadership ability affects their labor market outcomes and audit firm performance. Using Swedish military data on qualified auditors (CPAs), we first show that auditors' leadership ability, measured at around age 18, is a strong predictor of their income and career success. However, our results also suggest that the audit labor market compensates for auditors' leadership ability at a much later stage tha...
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作者：Koo, Minjae; Wang, Annika Yu; Wang, Yin; Zhang, Liandong
作者单位：Korea University; University of Houston System; University of Houston; Singapore Management University
摘要：Product market advertising, while containing little new information, triggers spikes in investor attention. Using weekly advertising data, we find that sell-side analysts issue optimistic earnings forecasts in response to heavier advertising in the prior week. This effect is not driven by confounding earnings or product news. It is more pronounced for experienced analysts and analysts affiliated with brokerages that rely solely on trading revenues. The optimistic forecast bias intensifies the ...
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作者：Arya, Anil; Frimor, Hans; Mittendorf, Brian; Pfeiffer, Thomas
作者单位：University System of Ohio; Ohio State University; University of Southern Denmark; University of Vienna
摘要：This paper extends a familiar model of competition and disclosure to incorporate the practical feature that firms may not only hold private information about consumer demand, but they can also influence demand by the investments they make in improving product quality. Such investments can reflect installing new product features, improving durability, adding design enhancements, and the like. This paper demonstrates that investments stand to significantly influence the firm's preference for dis...
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作者：He, Wen; Zhang, Jin
作者单位：Monash University
摘要：This study examines whether and how brokers manage the distribution of their stock recommendations. We document that if a broker's percentage of buy recommendations in a quarter is substantially higher than its target level, the broker issues significantly fewer buy recommendations than other brokers in the following quarter. This evidence remains robust after controlling for mean reversion in the data and varies systematically with brokers' expected benefits and costs of managing the distribu...
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作者：Ahrens, Thomas; Ferry, Laurence
作者单位：United Arab Emirates University; Durham University; Rutgers University System; Rutgers University New Brunswick
摘要：Recent research into the uses of accounting as a technology of government has used Foucault's notion of counter-conduct to shed light on various ways in which the governed can seek to alter the regimes to which they are subjected. This paper unpacks the notion of counter-conduct further in order to develop a clearer conceptualization of how regimes of government can change over time, with or without clearly identifiable attempts by the governed to influence such changes. We develop our argumen...
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作者：Li, Xuanbo; Lou, Yun; Wang, Rencheng; Zhou, Kaitang
作者单位：City University of Hong Kong; Singapore Management University; Wuhan University
摘要：We examine how common institutional investors (CIIs) facilitate the financial reporting comparability (FRC) of US firms. Common ownership increases FRC of firms that are directly owned by CIIs (via a direct effect) and has positive spillover effects on other firms in the same industry. We find spillover effects in two types of firms: (1) those that are commonly owned by different institutional investors but are connected through common firms, and (2) those that do not have any common ownership...
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作者：Azambuja, Ricardo; Baudot, Lisa; Endo, Takahiro; Matsubara, Saori
作者单位：Universite Catholique de Lille; EDHEC Business School; Hautes Etudes Commerciales (HEC) Paris; University of Victoria; Kobe University
摘要：One view of the socialization experienced by professionals in global Big 4 firms suggests that the intensity of socialization engenders a strong and deep-rooted professional identity. We scrutinize this claim by drawing on interviews with partners who retired from lifelong employment in Big 4 firms in Japan. Through partners' reflections on their experiences in detaching from the firm, we examine how socialization manifests in partners' identity work. We find that partners' identity, which oft...
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作者：Krishnan, Jagan; Li, Meng; Park, Hyun Jong
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; University of Texas System; University of Texas Arlington
摘要：We examine whether auditor political connections are associated with the SEC's oversight of audit clients. Specifically, we test whether auditors' political action committee contributions are associated with three SEC oversight actions: comment letters, investigations, and Accounting and Auditing Enforcement Releases (AAERs). Consistent with higher political connections inducing heightened scrutiny from the SEC, we find that the clients of auditors with higher political connections are more li...
