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作者：Wang, Ke
作者单位：University of Alberta
摘要：This paper examines whether the tone of corporate textual disclosures related to risk and uncertainty conveys relevant information to the credit default swap (CDS) market. Prior studies largely focus on the amount of risk disclosures and provide inconclusive evidence on the usefulness of risk disclosures for investors in assessing firm risk. Using a large sample of textual risk disclosures in the Management's Discussion and Analysis (MD&A) section of 10-K and 10-Q filings, I predict and find t...
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作者：Vaisanen, Marjo; Tessier, Sophie; Jarvinen, Janne T.
作者单位：University of Oulu; Universite de Montreal; HEC Montreal
摘要：The purpose of this paper is to increase our understanding of how enabling perceptions of new management controls (MCs) can be fostered. Prior research suggests that employees are more likely to use new MCs if they perceive them as enabling. However, rapid implementation of new MCs due to circumstances such as mergers and acquisitions can leave employees feeling coerced into using them, making it difficult to foster enabling perceptions. Based on a case study where an acquirer faces pressure t...
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作者：Christensen, Brant E.; Newton, Nathan J.; Wilkins, Michael S.
作者单位：University of Oklahoma System; University of Oklahoma - Norman; State University System of Florida; Florida State University; University of Kansas
摘要：Using proprietary data from a global accounting firm, we investigate the determinants of auditors' interim effort as well as the impact of interim effort on audit quality, client disclosure timeliness, audit hours, and audit fees. Public statements from accounting firms and regulators suggest various benefits from accelerating auditor effort, but these claims remain largely untested. We find that interim effort is higher for large, complex clients that require integrated audits of both financi...
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作者：Bills, Kenneth L.; Hayne, Christie; Stein, Sarah E.
作者单位：Michigan State University; University of Illinois System; University of Illinois Urbana-Champaign; Virginia Polytechnic Institute & State University
摘要：The coopetition paradox exists when two or more organizations are simultaneously involved in cooperative and competitive interactions. In the accounting industry, small firms encounter coopetition when they align themselves with other independent firms to form accounting associations and networks (AANs). AANs are a type of interorganizational relationship (IOR) that provide opportunities for member firms to collaborate by sharing important resources such as expertise, best practices, and manpo...
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作者：Hillegeist, Stephen A.; Weng, Liwei
作者单位：Arizona State University; Arizona State University-Tempe; Hong Kong Polytechnic University
摘要：Understanding the association between quasi-indexer ownership and insider trading is important given the externalities that insider trading can impose on shareholders, the importance of quasi-indexers in the capital markets, and their mixed monitoring incentives. The prior literature has produced an inconsistent set of results regarding this association. These results are difficult to interpret because the association between them is likely endogenous, and prior studies have not employed effec...
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作者：Kubick, Thomas R.; Lockhart, G. Brandon; Robinson, John R.
作者单位：University of Nebraska System; University of Nebraska Lincoln; Clemson University; Texas A&M University System; Texas A&M University College Station
摘要：We use changes in mandatory pension funding to investigate the relation between internal financing constraints and incremental investment. Pension funding relief enacted in 2012 significantly reduced mandatory employer contributions to defined benefit pension plans. Prior to learning of the pension relief, firms disclosed their expected pension contributions under FAS 132R, which allows us to infer changes in investment plans in response to this unanticipated pension relief. Although our setti...
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作者：Knauer, Thorsten; Sommer, Friedrich; Woehrmann, Arnt
作者单位：Ruhr University Bochum; University of Bayreuth
摘要：Prior research demonstrates that relative performance information affects effort and performance. However, little is known about the qualitative design parameters of these information systems. This study examines, via an experiment, how adding performance category labels to ranks (e.g., good ranking position and poor ranking position) affects effort and performance. Furthermore, we investigate the effort and performance effects of two design choices observed in practice: the type of performanc...
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作者：Porumb, Vlad-Andrei; Zengin-Karaibrahimoglu, Yasemin; Lobo, Gerald J.; Hooghiemstra, Reggy; De Waard, Dick
作者单位：University of Groningen; University of Houston System; University of Houston
摘要：Starting in October 2013, auditors of premium-listed firms in the United Kingdom are mandated to prepare an expanded auditor's report that provides details on audit procedures, risks of material misstatement (RMMs), and materiality thresholds. This regulatory change is important to study, because it aims to increase the informational value of the traditional, highly standardized, pass-or-fail auditor's report. We examine whether the disclosures in the expanded auditor's report provide informat...
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作者：Ge, Weili; Li, Zining; Liu, Qiliang; McVay, Sarah
作者单位：University of Washington; University of Washington Seattle; Loyola Marymount University; Jiangxi University of Finance & Economics
摘要：We examine whether the strength of internal control over financial reporting (internal control) reduces the expropriation of resources from the firm by managers and controlling shareholders. Although we have ample evidence from prior literature that internal controls reduce errors in financial reports, it is less clear that they can curb resource extraction, because management may fail to enforce these controls. Exploiting the setting of China, where we have a rich internal control data set an...
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作者：Fang, Xiaohua; Pittman, Jeffrey; Zhao, Yuping
作者单位：State University System of Florida; Florida Atlantic University; Memorial University Newfoundland; University of Houston System; University of Houston
摘要：Prior research documents that information transmitted via director networks affects firms' policies and real economic activities. Given a manager's potential monopoly over firm information, it is important to analyze whether information transmission through director social networks undermines the manager's control. Specifically, we explore whether information flow through director networks influences managers' ability to hoard bad news. We predict and find that the extent of external connectio...
