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作者：Robinson, Scott A.; Skinner, A. Nicole; Wang, Jasmine
作者单位：University of Oregon; University of Colorado System; University of Colorado Boulder; University of Virginia
摘要：We examine how managers' incentives to minimize litigation risk interact with the unique features of environmental information to shape disclosure decisions. We rely on peer firms' lawsuits to generate variation in environmental disclosure litigation risk, consistent with prior research and anecdotal evidence suggesting that firms perceive an increase in environmental disclosure litigation risk after a peer firm is sued for related disclosures. Although we provide mixed evidence around changes...
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作者：Ferracuti, Elia; Vashishtha, Rahul; Wang, Shuyan
作者单位：Duke University; University of Minnesota System; University of Minnesota Twin Cities
摘要：Firms' use of accounting discretion to report a smooth earnings profile is commonly believed to be pervasive. We examine whether smoothing, at least partly, reflects managerial attempts to avert unhealthy pressures from outsiders who cannot fully disentangle the impact of transitory shocks from sustainable trends in value creation. Using variation in firms' ability to hedge foreign currency (forex) exposure through derivatives, we find that firms are less likely to smooth earnings when they ca...
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作者：Gillette, Jacquelyn; Pundrich, Gabriel; Yezegel, Ari
作者单位：Analysis Group Inc.; Massachusetts Institute of Technology (MIT); State University System of Florida; University of Florida; Bentley University
摘要：We examine how the 2016 Municipal Advisor Regulatory Reform, which professionalized municipal advisors by imposing standards of conduct and minimum competency requirements, affected advisory firms and issuers. Using a difference-in-differences (DiD) research design, we find that the reform improved the quality of financial advice provided by independent municipal advisory firms relative to dealer firms. Specifically, independent municipal advisors assemble higher-quality financing teams and en...
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作者：Matabele, Mario; Mix, Doran S.; German, Zachary; Newhall, Karina; Mussa, Firas F.; Cirillo-Penn, Nolan C.
作者单位：University of Rochester; University of Minnesota System; University of Minnesota Twin Cities
摘要：Historically, management of uncomplicated Type B aortic dissection (uTBAD) involved impulse control via medical therapies. Recent advances in endovascular treatment modalities, such as thoracic endovascular aortic repair, have given way to a new paradigm for management, prompting contemporary randomized trials. However, studies evaluating early morbidity and failure of medical management in uTBAD remain sparse, as these patients frequently convert to complicated disease before trial enrollment...
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作者：Shen, Xingyu; Yan, Jiawen; Yeung, P. Eric
作者单位：Virginia Polytechnic Institute & State University; National University of Singapore; Cornell University
摘要：Facing pressure to meet short-term earnings expectations, corporate managers often take actions that are perceived as value-destroying. Our study provides empirical evidence supporting an alternative view: earnings pressure can discipline managers to undertake value-enhancing actions by refocusing on the firm's core products. Consistent with this product refocus hypothesis, we find that firms under earnings pressure reduce investment in non-core products, leading to the subsequent underperform...
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作者：Nessa, Michelle L.; Tang, Xinjie (Susan); Wilson, Ryan J.
作者单位：Michigan State University; Michigan State University's Broad College of Business; University System of Georgia; University of Georgia; University of Iowa
摘要：This paper examines whether U.S. domestic firms' investment decisions are affected by their expectations of market leaders' tax-motivated income shifting. Market leaders' financial reports can help peers evaluate industry conditions and potential investment payoffs, but income shifting obscures the geographic source of profits and reduces the informativeness of these disclosures. Thus, when peers expect that leaders shift income, they face greater uncertainty about the outcomes of their own in...
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作者：Roh, Yongoh
作者单位：McGill University
摘要：This paper examines how incumbent firms adjust their disclosure behavior in response to heightened labor market competition. Using announcements of large employer entries into local labor markets, I find that incumbent firms located in the affected counties increase the disclosure of positive, forward-looking information. This response is concentrated among incumbent firms that compete more directly with entrant firms for similar workers and is strongest in local labor markets where employee r...
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作者：Lang, Tina; Stice-Lawrence, Lorien; Wong, Yu Ting Forester; Wong, T. J.
作者单位：California State University System; California State University East Bay; University of Southern California; City University of Hong Kong
摘要：We develop an empirical proxy for companies' differential communication to local and foreign investors using translation differences in public disclosure. We validate our proxy using a field experiment and then use this proxy to document that differential communication is associated with increases in information asymmetry between local and foreign investors. It is also linked to decreases in the relative information quality of foreign analysts, even when foreign demand for information is high ...
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作者：Dubosq-Lebaz, Maxime; Gray, William A.; Schneider, Peter A.; Koo, Chieh Yang Christopher; Jouffroy, Manon; Secemsky, Eric A.
作者单位：Harvard University; Harvard Medical School; Harvard University Medical Affiliates; Beth Israel Deaconess Medical Center; University of California System; University of California San Francisco
摘要：Carotid artery stenting (CAS) is now established as a less invasive alternative to carotid endarterectomy for patients with carotid artery stenosis. Over the past two decades, stent technologies have undergone significant refinements to improve navigability, conformability, and plaque coverage while aiming to reduce periprocedural complications and enhance long-term durability. Current devices are broadly categorized as open-cell, closed-cell, and dual-layer micromesh stents. Open-cell designs...
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作者：Yen, Matthew; Goldstein, Larry B.; Silver, Brian; Chaturvedi, Seemant
作者单位：University System of Maryland; University of Maryland Baltimore; University System of Maryland; University of Maryland Baltimore; University of Kentucky
摘要：The interventional management of symptomatic carotid disease (ie, endarterectomy, angioplasty/stenting, or transcarotid artery revascularization) has traditionally involved correcting the area of arterial narrowing, guided by stenosis severity combined with medical therapy, and has been recommended by the 2021 American Heart Association Secondary Stroke Prevention Guidelines. Despite this traditional practice, advances in medical therapy show promise in reducing recurrent stroke without the ne...
