Journal of Accounting Research

最新文章

• Public Disclosure of Private Meetings: Does Observing Peers' Information Acquisition Affect Analysts' Attention Allocation? AI翻译
  作者：Ru, Yi; Zheng, Ronghuo; Zou, Yuan
  作者单位：Renmin University of China; University of Texas System; University of Texas Austin; Harvard University
  摘要：We investigate the impact of observing peers' information acquisition on financial analysts' allocation of attention. Using the timely disclosure mandate by the Shenzhen Stock Exchange as a setting, we find that, shortly after analysts observe that a firm has been visited by peer analysts, they reduce short-term attention to that firm, as indicated by a reduced tendency to conduct follow-up visits. Nonvisiting analysts who do not conduct follow-up visits are more likely to discontinue coverage...
• Financial Reporting Around Private Firms' Securities Offerings AI翻译
  作者：Kang, Yiran
  作者单位：City University of Hong Kong
  摘要：This paper investigates how U.S. private firms communicate with investors around private securities offerings. Using multiple research methods including survey, interview, and archival analysis, I provide systematic evidence on private firms' public and private disclosure practices. I find that despite engaging in a low level of public disclosures, private firms actively communicate with investors through private communication channels, with notable variation across firms in terms of content a...
• Silent Suffering: Using Machine Learning to Measure CEO Depression AI翻译
  作者：Cheng, Sung-yuan (mark); Golshan, Nargess m.
  作者单位：University of Kentucky; Indiana University System; Indiana University Bloomington
  摘要：We introduce a novel measure of CEO depression by applying machine learning models that analyze vocal acoustic features from CEOs' conference call recordings. Our research was preregistered via the Journal of Accounting Research's registration-based editorial process. In this study, we validate this measure and examine associated factors. We find that greater firm risk is positively associated with CEO depression, whereas higher job demands are negatively associated with CEO depression. Female...
• Generative AI Use by Capital Market Information Intermediaries: Evidence from Seeking Alpha AI翻译
  作者：Bradshaw, Mark T.; Ma, Chenyang; Yost, Benjamin P.; Zou, Yuan
  作者单位：Boston College; Duke University; Harvard University
  摘要：We study the use of generative AI for firm-specific financial analysis on the Seeking Alpha platform. After the initial launch of ChatGPT in November 2022, the share of AI-generated articles rose sharply to 13.5% of all articles, then declined in late 2023 after Seeking Alpha equated the use of AI to plagiarism and announced a prohibition on its use. We organize our study around two questions: (1) Does AI use increase author productivity? and (2) does AI use have capital market consequences an...
• Generative AI in Capital Markets: Information Production, Dissemination, and Processing AI翻译
  作者：Cao, Sean Shun; Chen, Wilbur Xinyuan; Ma, Guang; Srinivasan, Suraj
  作者单位：University System of Maryland; University of Maryland College Park; Hong Kong University of Science & Technology; Rutgers University System; Rutgers University New Brunswick; Harvard University
  摘要：We synthesize evidence from six papers presented at the 2025 Journal of Accounting Research Conference on how generative artificial intelligence (GenAI) is reshaping capital-market information flows. Our discussion is organized around an economic framework with three layers: information production by firms and accounting professionals, information dissemination through intermediaries, and information processing by investors. Across these layers, the conference papers show that GenAI can lower ...
• Monitoring Quality of Mafia-Connected Accountants AI翻译
  作者：Bianchi, Pietro A.; Francis, Jere R.; Marra, Antonio; Pecchiari, Nicola
  作者单位：Bocconi University; University of Missouri System; University of Missouri Columbia
  摘要：We investigate the monitoring quality of accountants with ties to the Mafia in their role as auditors for clean firms-those with no known ties to organized crime. Using a proprietary government database, we identify Italian firms with alleged ties to the Mafia through their executives, directors, or shareholders. We define suspect accountants as those who serve as auditors for these Mafia-connected firms, acknowledging their potential associations with criminal entities. We predict and find ev...
• Do Nature-Loving CEOs Make the World Greener? AI翻译
  作者：Zhi, Weijia
  作者单位：The Chinese University of Hong Kong, Shenzhen
  摘要：This study examines the relation between CEOs' preferences for environmental protection (nature-loving preferences) and corporate environmental actions. Drawing on social ecology research, I develop a proxy for CEOs' nature-loving preferences based on their childhood exposure to greenspace and validate it using their positive discussions of nature during earnings conference calls. Findings show a significant positive association between CEOs' nature-loving preferences and their firms' particip...
• Redaction as Cross-Regulatory Disclosure Avoidance AI翻译
  作者：Floros, Ioannis, V; Johnson, Shane A.; Zhao, Wanjia
  作者单位：University of Wisconsin System; University of Wisconsin Milwaukee; Texas A&M University System; Texas A&M University College Station; Mays Business School; Monash University
  摘要：We introduce the idea of cross-regulatory disclosure avoidance, whereby firms attempt to counteract expansions of disclosure under one regulation through actions that reduce disclosure under a different one. We study whether firms redact information from material contracts when they face new rules to disclose segment information. Using SFAS No. 131 as a plausibly exogenous shock to segment disclosure, we find that firms increasing the number of reported segments after the rule change exhibit a...
• The Economic Consequences of CEO Compensation Lawsuits AI翻译
  作者：Kong, Xiangnian; Na, Ke
  作者单位：Nanjing University
  摘要：This paper studies shareholder derivative lawsuits related to CEO compensation. We document that compensation lawsuits are more likely to be filed against firms with higher CEO pay, especially in the presence of poor firm performance. Firms reduce the level of CEO compensation after lawsuits, which leads to CEO departures and declines in CEO effort provisions, and consequently, results in deteriorated firm performance. Interestingly, compensation lawsuits accompanied by low support in the prec...
• Human Capital Disclosure and Labor Market Outcomes: Evidence from Regulation S-K AI翻译
  作者：Choi, Jung Ho; Li, Dan; Macciocchi, Daniele
  作者单位：Stanford University; Singapore Management University; University of Miami
  摘要：We examine the labor market consequences of the 2020 Regulation S-K requiring human capital disclosure in 10K filings. Using large-sample job-level data and a Generative Large Language Model (GLLM), we observe that public firms subject to the regulation increase their disclosure of diversity, equity, and inclusion (DEI) information in job postings relative to a matched sample of large private firms. The increase in job-posting disclosure is more pronounced among firms facing greater external p...