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作者：Christensen, Theodore E.; Huffman, Adrienna; Lewis-Western, Melissa F.; Valentine, Kristen
作者单位：University System of Georgia; University of Georgia; The Brattle Group; Brigham Young University
摘要：Researchers typically infer real earnings management when a firm's operating and investing activities differ from industry norms. A significant problem with classifying deviations from industry averages as myopic earnings management is that companies can change their operating and investing decisions for strategic business reasons rather than to mislead stakeholders. Using principal components analysis, we systematically evaluate existing measures and develop a comprehensive real activities me...
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作者：Cai, Wei; Gallani, Susanna; Shin, Jee-Eun
作者单位：Columbia University; Harvard University; University of Toronto
摘要：This study examines how the design of incentive contracts for tasks defined as workers' official responsibilities (i.e., standard tasks) influences workers' propensity to engage in employee-initiated innovation (EII). EII corresponds to innovation activities that are not formally assigned to workers but are nonetheless encouraged and considered to be important for the company's success. Like other extra-role behaviors, EII is difficult to incentivize directly. Therefore, it is important to und...
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作者：Moschella, Jason; Boulianne, Emilio; Magnan, Michel
作者单位：Universite de Montreal; HEC Montreal; Concordia University Wisconsin
摘要：We investigate how owners of small- and medium-sized enterprises (SMEs) perceive, make sense of, and practice risk management. Drawing on Schatzki's practice theory, we theorize on how and why risk management happens in SMEs. Thus, we fill a gap in the extant literature, which focuses almost exclusively on risk management within large organizations. We interview entrepreneurs and conduct site observations to gain insight into their risk management activities, the drivers that lead to the adopt...
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作者：Gao, Kaijuan; Pittman, Jeffrey; Wang, Xiongyuan; Wang, Zi-Tian
作者单位：Hunan University; Memorial University Newfoundland; Virginia Polytechnic Institute & State University; Zhongnan University of Economics & Law; Southwestern University of Finance & Economics - China
摘要：Exploiting a quasi-natural experiment in China in which some firms become investible to foreign investors across different times (i.e., pilot firms), we explore the role that stock market liberalization plays in shaping firms' earnings management activities. In one direction, the national-level liberalization reform may elicit public attention from various stakeholders, piling pressure on managers to refrain from distorting their firms' earnings. In the other direction, the various restriction...
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作者：Bourveau, Thomas; Li, Xinlei; Macciocchi, Daniele; Sun, Chengzhu
作者单位：Columbia University; University of California System; University of California Davis; University of Miami; Hong Kong Polytechnic University; University of Miami
摘要：We examine a regulatory change that increased the reporting frequency of mutual funds' portfolios. Using a difference-in-differences design, we find that firms with greater ownership by mutual funds increase share repurchases following the regulatory change. We show that these share repurchases are a firm's rational response to undervaluation, which occurs because fund managers become shortsighted following the regulation and sell companies with good long-term prospects. Collectively, our resu...
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作者：Campbell, John L.; Cao, Sean Shun; Chang, Hye Sun; Chiorean, Raluca
作者单位：University System of Georgia; University of Georgia; University System of Maryland; University of Maryland College Park; Singapore Management University; Lehigh University; University System of Georgia; University of Georgia
摘要：We investigate how firms' use of derivatives impacts voluntary disclosure and offer four main findings. First, we find that when firms begin using derivative instruments, they increase the frequency of management earnings forecasts. Second, using path analysis, we find a direct link between derivative usage and forecast frequency, as well as an indirect link through reduced earnings volatility. Third, we find that CEOs with more pronounced career concerns increase forecast frequency only when ...
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作者：Condie, Eric R.; Lisic, Ling Lei; Seidel, Timothy A.; Truelson, Jonathan Michael; Zimmerman, Aleksandra B.
作者单位：University System of Georgia; Georgia Institute of Technology; Virginia Polytechnic Institute & State University; Brigham Young University; Mississippi State University; State University System of Florida; Florida State University
摘要：Motivated by prior literature on organizational identification and 23 semistructured interviews with a variety of US audit partners and directors, we examine whether the gender and ethnic diversity of an office's audit partners influences the retention of the office's audit professionals and the quality of the audits conducted by the office. Using hand-collected data on US audit partners, we find that greater levels of (or changes in) diversity in office audit partners' gender and ethnicity ar...
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作者：Abernathy, John L.; Klaus, Jan (J. ) Philipp; Le, Linh; Masli, Adi
作者单位：University System of Georgia; Kennesaw State University; University of Texas System; University of Texas Arlington; University of Nebraska System; University of Nebraska Omaha; University of Kansas
摘要：Although information technology (IT) plays an essential role in financial reporting, many companies today lack sufficient human capabilities to utilize IT competently. We examine the association between a firm's access to IT-capable labor and financial reporting quality (FRQ). We proxy for access to IT-capable labor using workforce measures in the metropolitan statistical area (MSA) where the firm operates, including (1) the number of IT-related college degrees relative to the total active wor...
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作者：Nan, Lin; Wen, Xiaoyan
作者单位：Purdue University System; Purdue University; Texas Christian University
摘要：We examine information quality and financial leverage when an entrepreneur needs financing to undertake a risky project and his effort input affects the project's outcome. We show that information quality and financial leverage interact to play active roles in both investment and effort decisions. Our analysis shows a positive association between leverage and optimal information quality-when leverage is low (high), low (high) information quality is optimal. This is because with low leverage, t...
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作者：Jacob, Martin; Mueller, Maximilian A.; Wulff, Thorben
作者单位：WHU - Otto Beisheim School of Management; University of Cologne
摘要：Using granular gas price data and rich variation in corporate tax rates, we find that corporate taxes increase consumer prices. About 64% of the corporate tax is borne by consumers. The effect is stronger when firms have limited access to tax planning opportunities, face stricter tax enforcement, or when consumer demand is less elastic. Taxes also reduce the number of firms and their scale, consistent with a tax-induced increase in marginal cost. Our results suggest that tax policies that incr...
