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作者：Libby, R.; Nelson, M. W.; Hunton, J. E.
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作者：Cardinaels, Eddy; Yin, Huaxiang
作者单位：KU Leuven; Tilburg University; Nanjing Tech University
摘要：Principals make decisions on various issues, ranging from contract design to control system implementation. Few studies examine the principal's active role in these decisions. We experimentally investigate this role by studying how a principal's choice of an incentive contract that may discourage misrepresentation, compared to a fixed-salary contract, affects the honesty of his or her agents' cost reporting. Results show that, besides an incentive effect and a principal trust effect, the activ...
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作者：Dai, Lili; Parwada, Jerry T.; Zhang, Bohui
作者单位：Australian National University; University of New South Wales Sydney
摘要：We investigate whether the media plays a role in corporate governance by disseminating news. Using a comprehensive data set of corporate and insider news coverage for the 2001-2012 period, we show that the media reduces insiders' future trading profits by disseminating news on prior insiders' trades available from regulatory filings. We find support for three economic mechanisms underlying the disciplining effect of news dissemination: the reduction of information asymmetry, concerns regarding...
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作者：Willenborg, Michael; Wu, Biyu; Yang, Yanhua Sunny
作者单位：University of Connecticut; University of Nebraska System; University of Nebraska Lincoln
摘要：We study the relation between issuer operating performance and initial public offering (IPO) price formation from the initial price range to the offer price to the closing price on the first trading day. For a post-bubble sample of 2001-2013 IPOs, we find that pre-IPO net income and, in particular, operating cash flow are strongly, positively associated with the revision from the mid-point of the initial price range to the offer price and that the partial adjustment phenomenon concentrates amo...
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作者：Clor-Proell, Shana M.; Maines, Laureen A.
作者单位：Texas Christian University; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：We investigate whether recognition on the face of the financial statements versus disclosure in the footnotes influences the amount that financial managers report for a contingent liability. Using an experiment with corporate controllers and chief financial officers, we find that financial managers in public companies expend more cognitive effort and exhibit less strategic bias under recognition than disclosure. This difference appears to be associated with capital market pressures experienced...
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作者：Feng, Mei; Li, Chan
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We examine whether auditors exercise professional skepticism about management earnings forecasts when making going-concern decisions. Using publicly issued management earnings forecasts as a proxy for earnings forecasts provided by managers to auditors, we find that management earnings forecasts are negatively associated with both auditors' going-concern opinions and subsequent bankruptcy. The weight auditors put on management forecasts in the going-concern decision is not significantly differ...
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作者：Garrett, Jace; Hoitash, Rani; Prawitt, Douglas F.
作者单位：Bentley University; Brigham Young University
摘要：Using unique survey data from Great Place to Work (R) Institute, we investigate the association of intraorganizational trust (i.e., employees' trust in management) with three aspects of financial reporting: accruals quality, misstatements, and internal control quality. We find that trust is associated with better accrual quality, lower likelihood of financial statement misstatements, and lower likelihood of internal control material weakness disclosures. However, these effects are not uniform ...
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作者：Badertscher, Brad; Jorgensen, Bjorn; Katz, Sharon; Kinney, William
作者单位：University of Notre Dame; University of London; London School Economics & Political Science; Columbia University; University of Texas System; University of Texas Austin
摘要：To what degree are audit fees for U.S. firms with publicly traded equity higher than fees for otherwise similar firms with private equity? The answer is potentially important for evaluating regulatory regime design efficiency and for understanding audit demand and production economics. For U.S. firms with publicly traded debt, we hold constant the regulatory regime, including mandated issuer reporting and auditor responsibilities. We vary equity ownership and thus public securities market cont...
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作者：Kalay, Alon
作者单位：Columbia University
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作者：Jia, Yuping; Van Lent, Laurence; Zeng, Yachang
作者单位：Frankfurt School Finance & Management; Tilburg University
摘要：We examine the relation between a measure of male CEOs' facial masculinity and financial misreporting. Facial masculinity is associated with a complex of masculine behaviors (including aggression, egocentrism, riskseeking, and maintenance of social status) in males. One possible mechanism for this relation is that the hormone testosterone influences both behavior and the development of the face shape. We document a positive association between CEO facial masculinity and various misreporting pr...
