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作者：Ham, Charles; Piorkowski, Mark; Seybert, Nick; Wang, Sean
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; University System of Maryland; University of Maryland College Park; Southern Methodist University
摘要：We study the role of CFO narcissism in the intent and ability to positively influence sell-side analysts' perceptions of the firm. Consistent with narcissists casting favorable impressions on others, we find CFO narcissism is associated with overly optimistic analyst valuations. We then study public persuasion attempts by analyzing conference call transcripts and private persuasion attempts through a laboratory study. In the conference call setting, we show that narcissistic CFOs use more pers...
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作者：Kothari, S. P.; Schonberger, Bryce; Wasley, Charles; Xiao, Jason J.
作者单位：Massachusetts Institute of Technology (MIT); University of Colorado System; University of Colorado Boulder; University of Rochester; State University of New York (SUNY) System; Binghamton University, SUNY
摘要：Seminal papers by Ball and Brown (1968) and Beaver (1968) spawned a vast literature on the role of accounting numbers in capital markets. This literature, often referred to as capital markets research in accounting (CMRA), is now more than a half-century old. In light of numerous changes to the economic and financial reporting environments over this time, we estimate CMRA's major relations using a comprehensive sample period. We illustrate each relation using plots, allowing us to efficiently ...
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作者：Michas, Paul N.; Russomanno, Dan; Zhao, Meiling
作者单位：University of Arizona; Chinese University of Hong Kong
摘要：We conjecture that a greater opportunity for audit partners to share personal industry knowledge with each other within audit offices is associated with higher audit quality. Using Public Company Accounting Oversight Board (PCAOB) Form AP data, we analyze each partner's client portfolio and construct sharing measures. First, we find extant measures of an audit office's industry market share, industry portfolio share, and industry diversity are quite noisy in inferring our sharing measures. Nex...
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作者：Huang, Shawn X.; Kim, Min; Rykaczewski, Maria; Vulcheva, Maria
作者单位：Arizona State University; Arizona State University-Tempe; Sogang University; State University System of Florida; Florida International University
摘要：In recent decades, increasing globalization and rapid technological development have caused many stock exchanges to change their ownership structure from mutually owned (broker/dealer-owned) to demutualized (for-profit, shareholder-owned). This study investigates whether increased for-profit focus weakens exchanges' monitoring incentives. Using multiple financial reporting quality metrics to capture monitoring efforts, we find that monitoring of listed firms declines post demutualization. Addi...
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作者：Ciconte, William A.; Rozario, Andrea M.; Urcan, Oktay
作者单位：University of Kansas; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We explore the capabilities and dangers of artificial intelligence (AI) usage in accounting research. We focus on mining U.S. securities regulations as an economic shock, testing the causal effect of these shocks on U.S. firms' voluntary disclosure, and writing a complete academic paper, conditional upon finding statistically significant results. Overall, this research experiment demonstrates the capacity for AI to provide efficiencies in research. AI-generated papers are not ready to be submi...
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作者：Godsell, David
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：This study investigates the effect of national security-related foreign investment screening laws on managers' investment choices. These laws weaken takeover markets by granting regulators broad new powers to revise or reject foreign takeovers of firms in national security-related industries. I identify exogenous variation in national security-related foreign investment screening laws using the enactment of a U.S. national security-related foreign investment screening law known as the Foreign ...
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作者：Zakota, Mark
作者单位：University System of Maryland; University of Maryland College Park
摘要：Market participants have called on the SEC to address the lack of disclosures about firms' environmental impacts, investments, and exposures. However, the frictions that obstruct the flow of environmental information are not well understood. I shed light on these frictions by examining whether scrutiny by the Environmental Protection Agency (EPA) restricts the firm's voluntary environmental disclosures in earnings conference calls. Consistent with the notion that EPA scrutiny gives rise to dis...
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作者：Guan, Jenny Xinjiao; Shafron, Emily; Ye, Kangtao; Zhuang, Wenzi
作者单位：Monash University; Texas A&M University System; Texas A&M University College Station; Mays Business School; Dongbei University of Finance & Economics
摘要：We examine whether and how language barriers influence a country's decision to adopt International Financial Reporting Standards (IFRS). Our findings reveal that as the distance between a country's official language and English (i.e., linguistic distance) increases, the likelihood and speed of a country adopting IFRS decrease. Our evidence is consistent with the notion that language barriers impose significant information costs on preparers and users of financial reporting, making IFRS costlie...
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作者：Choi, Jung Ho; Gipper, Brandon; Shi, Shawn X.
作者单位：Stanford University; University of Washington; University of Washington Seattle
摘要：Early empirical evidence showed a lack of relative performance evaluation (RPE) for executive pay, a surprise given its theoretical appeal. We hypothesize that executive pay transparency can enhance the monitoring of pay practices and increase RPE use. We examine RPE over the two decades centered on the 2006 executive pay disclosure reforms in the United States, which stakeholders-including shareholders, proxy advisors, and compensation consultants-could use to monitor pay plans. Firms that in...
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作者：Ferguson, Colin; Pinnuck, Matthew; Skinner, Douglas J.
作者单位：University of Melbourne; University of Chicago
摘要：We use a long time-series from Australia to shed light on economic factors that led to audit market concentration and the Big N. We show that increases in the size of a small number of public companies was an important factor that led to large audit firms and market concentration. We also show that emerging Big N firms made sunk cost investments, including in the ability to provide industry expertise and non-audit services, which allowed them to retain clients, differentiate, and grow. These c...
