-
作者：Jung, Michael J.; Wong, M. H. Franco; Zhang, X. Frank
作者单位：New York University; University of Toronto; Yale University
摘要：Companies' earnings conference calls are perceived to be venues for sell-side equity analysts to ask management questions. In this study, we examine another important conference call participantthe buy-side analystthat has been underexplored in the literature due to data limitations. Using a large sample of transcripts, we identify 3,834 buy-side analysts from 701 institutional investment firms who participated (i.e., asked a question) in 13,332 conference calls to examine the determinants and...
-
作者：Allee, Kristian D.; Deangelis, Matthew D.; Moon, James R., Jr.
作者单位：University of Arkansas System; University of Arkansas Fayetteville; University System of Georgia; Georgia State University
摘要：In response to the increasing use of computer programs to process firm disclosures, this registered report develops a new measure of scriptability that reflects computerized, rather than human, information processing costs. We validate our measure using SEC filing-derived data from prior research and identify firm and disclosure characteristics related to it. In our planned hypothesis tests, we find some evidence that the speed of the market response to filings increases with scriptability, bu...
-
作者：Hail, Luzi; Tahoun, Ahmed; Wang, Clare
作者单位：University of Pennsylvania; University of London; London Business School; University of Iowa
摘要：Are regulatory interventions delayed reactions to market failures or can regulators proactively pre-empt corporate misbehavior? From a public interest view, we would expect effective regulation to ex ante mitigate agency conflicts between corporate insiders and outsiders, and prevent corporate misbehavior from occurring or quickly rectify transgressions. However, regulators are also self-interested and may be captured, uninformed, or ideological, and become less effective as a result. In this ...
-
作者：Bol, Jasmijn C.; Estep, Cassandra; Moers, Frank; Peecher, Mark E.
作者单位：Tulane University; Emory University; Maastricht University; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Two critical aspects of the model of auditor expertise development in Tan and Libby [1997] are that audit firms do not value tacit knowledge in inexperienced auditors but do value it in experienced auditors. We update the former and extend the latter. Our paper predicts and finds that audit firms now do value tacit knowledge in inexperienced auditors, especially when their supervisors have higher tacit knowledge. Our proxies of value include higher promotability assessments, annual evaluations...
-
作者：Cianciaruso, Davide; Sridhar, Sri S.
作者单位：Hautes Etudes Commerciales (HEC) Paris; Northwestern University
摘要：Firms sometimes obtain soft private information about growth prospects along with hard information about current or past performance. In this environment, we find that optimizing disclosures over multiple periods yields nonlinear stock price reactions following both voluntary and mandatory disclosures. Further, we derive several predictions about distinct short-run and long-run effects of disclosures and nondisclosures on security prices. Under specified conditions, when the volatility of the ...
-
作者：Van Duin, Sanne R.; Dekker, Henri C.; Wielhouwer, Jacco L.; Mendoza, Juan P.
作者单位：Vrije Universiteit Amsterdam
摘要：In collaboration with the Authority for the Financial Markets in the Netherlands, we manipulate the content of official letters that instruct financial intermediaries to submit a mandatory self-assessment. As part of the Registered Report Process, we submitted our hypotheses, experimental procedure, and planned statistical analyses before data collection. We predicted that a request indicating a supportive regulatory attitude has a positive effect on reporting quality on average. We also predi...
-
作者：Bonner, Sarah; Majors, Tracie; Ritter, Stacey
作者单位：University of Southern California
摘要：Risk assessment is a critical audit task, as auditors' accuracy therein affects audit effectiveness and financial reporting quality, as well as audit efficiency. We propose that risk assessment accuracy for client risks that have changed from the prior year is affected by the manner in which auditors access prior year risk assessments, specifically whether they face a default option created by the prepopulation of current year workpapers with those assessments. We find that auditors with prepo...
-
作者：Bloomfield, Robert; Rennekamp, Kristina; Steenhoven, Blake
摘要：The papers in this volume were published through a Registration-based Editorial Process (REP). Authors submitted proposals to gather and analyze data; successful proposals were guaranteed publication as long as the authors lived up to their commitments, regardless of whether results supported their predictions. To understand how REP differs from the Traditional Editorial Process (TEP), we analyze the papers themselves; conference comments; a survey of conference authors, reviewers, and attende...
-
作者：Eyring, Henry; Narayanan, V. G.
作者单位：University of London; London School Economics & Political Science; Harvard University
摘要：We conduct a field experiment, based on a registered report accepted by the Journal of Accounting Research, to test performance effects of setting a high reference point for peer-performance comparison. Relative to providing the median as a reference point for online students to compare themselves to, providing the top quartile: damps performance for those below the median, boosts performance for those between the median and top quartile, and, in the case of outcome but not process comparison,...
-
作者：Call, Andrew C.; Martin, Gerald S.; Sharp, Nathan Y.; Wilde, Jaron H.
作者单位：Arizona State University; Arizona State University-Tempe; American University; Texas A&M University System; Texas A&M University College Station; University of Iowa
摘要：Whistleblowers are ostensibly a valuable resource to regulators investigating securities violations, but whether there is a link between whistleblower involvement and the outcomes of enforcement actions is unclear. Using a data set of employee whistleblowing allegations obtained from the U.S. government and the universe of enforcement actions for financial misrepresentation, we find that whistleblower involvement is associated with higher monetary penalties for targeted firms and employees and...
