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作者：Grieder, Manuel; Schuhmacher, Karl
作者单位：Zurich University of Applied Sciences; Emory University
摘要：We conduct an experiment to investigate the use of peer evaluations for compensation purposes. Although organizations often rely on peer evaluations for incentive compensation, it is not well understood how peer feedback should be used and designed to ensure non-distorted evaluations and motivate effort provision. We study peer evaluations in form of bonus allocation proposals, thereby enabling a quantifiable test of our hypothesis. We distinguish between discretionary use (i.e., allocation by...
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作者：Ali, Waqar; Bens, Daniel A.; Cassar, Gavin
作者单位：Hautes Etudes Commerciales (HEC) Paris; INSEAD Business School
摘要：Complexity in applying financial accounting standards can have real operational effects if firms alter their actions in response to increased reporting costs. We examine whether the introduction of ASU 2017-12, designed to reduce compliance burden and better align hedge accounting rules with risk management practices, led to more effective hedging. Using detailed hedging disclosures, we show that firms that adopt the ASU expand the use of hedge-accounted derivatives and reduce exposures to int...
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作者：Bakke, Ashleigh l.; Cowle, Elizabeth n.; Rowe, Stephen p.; Wilkins, Michael s.
作者单位：Oklahoma State University System; Oklahoma State University - Stillwater; Colorado State University System; Colorado State University Fort Collins; University of Arkansas System; University of Arkansas Fayetteville; University of Kansas
摘要：We investigate how audit firms balance the tension between professional responsibility and client service by examining changes in partner assignments following adverse internal control opinions (ICOs). We find that partners are significantly more likely to be reassigned when they issued an adverse ICO to any of their clients in the previous year. Further, partners issuing adverse ICOs experience unfavorable changes in their client portfolios in the form of lower fees and less prestigious assig...
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作者：Tang, Dragon Yongjun; Yan, Jiali; Yao, Yaqiong
作者单位：University of Hong Kong; University of Exeter; Lancaster University
摘要：We examine whether and how common ownership affects Environmental, Social, and Governance (ESG) ratings-an important research question given the increasing use of these ratings in investment decisions and corporate evaluations. We find that companies with major shareholders in common with the rating agency (sister firms) tend to receive higher ESG ratings. When a company becomes a sister firm through a change in the rating agency's ownership structure, its rating from that agency is subsequent...
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作者：Lee, Jimmy; Ng, Shaphan; Yoo, Il Sun; Zhang, Liandong
作者单位：Singapore Management University; University of Hawaii System; University of Hawaii Manoa
摘要：The protection of free speech enhances the ability of various public stakeholders to disseminate privately observed adverse information about public firms, making it difficult for corporate managers to conceal negative information about their companies. Using the staggered enactment of anti-strategic lawsuit against public participation (anti-SLAPP) laws across U.S. states as a shock that strengthens free speech protection, we show that stronger protection is associated with less concealment o...
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作者：Lu, Yifei; Wu, Joanna Shuang; Yang, Yucheng (John)
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Rochester; Chinese University of Hong Kong
摘要：We study how foreign investors' access to corporate information varies with pairwise geopolitical tensions between the investor's and investee's countries. Using a sample of 1,760 country-pairs, we find that geopolitical tensions between a conference call host firm's country and a foreign country relate negatively with investor participation from that foreign country as well as the quality and tone of management responses in the call, suggesting reduced foreign investor information access with...
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作者：Gallo, Lindsey; Labro, Eva; Omartian, James d.
作者单位：University of Michigan System; University of Michigan; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：We investigate the dynamics of internal forecasting in multi-location firms and the relations between forecast characteristics and investment. Using U.S. Census microdata on plant-level growth expectations, we find that plants within multi-location firms make forecasts that are both more certain and less accurate than those of standalone plants. We provide evidence suggesting that headquarters infers uncertainty from inter-plant forecast disagreement, and that headquarters is able to facilitat...
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作者：Brown, Jennifer l.; Casas-arce, Pablo; Kenchington, David g.; White, Roger m.
作者单位：Arizona State University; Arizona State University-Tempe
摘要：We examine whether the local administration of sales taxes (as opposed to a more streamlined state administration) affects the real economy for businesses complying with the tax. We study this question in the Florida hotel industry, as counties in Florida can choose to locally administer the county-level tourist tax or have the state administer the county-level tax along with the state-level tourist tax. Local administration is popular because it supports local employment (of tax administrator...
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作者：Krishnan, Jagan; Li, Meng; Mehta, Mihir N.; Park, Hyun Jong
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; University of Texas System; University of Texas Arlington; University of Michigan System; University of Michigan
摘要：We present the first comprehensive descriptive evidence on the labor market and personal consequences for audit professionals in the United States who are named in SEC or PCAOB enforcement actions. Three key findings emerge. First, between 38% and 73% of culpable auditors depart from their firms within one year after the enforcement event. These departure rates are three to four times higher compared with a sample of non-culpable auditors. Second, 83% of culpable auditors departing from Big 4 ...
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作者：Billings, Mary Brooke; Holthausen, Robert W.; Petrovits, Christine; Wang, Danye
作者单位：New York University; University of Pennsylvania; William & Mary; University of Iowa
摘要：We assemble and describe a sample of 174,782 lawsuits filed against 218,437 public-company lawsuit-defendants in federal district court from 2006 to 2021. These lawsuits involve an array of allegations, including product liability, civil rights discrimination, contract breaches, improper compensation and labor practices, antitrust violations, corruption, securities violations, pollution, and intellectual property infringement. The sample exhibits rich variation across firms, industries, time, ...
