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作者：Bloomfield, Robert J.; Rennekamp, Kristina; Steenhoven, Blake; Stewart, Scott
作者单位：Cornell University
摘要：We present 179 investment professionals with a scenario that manipulates whether a male or female analyst persists in pitching a stock pick after it has been voted down. Respondents evaluate analysts as less promotable when they do not persist, but only if the analyst is female. Results are consistent with categorization theory, which suggests that evaluators rely on stereotypes to interpret unexpected behaviors. In male-dominated settings, the same unexpected behavior may be perceived as evid...
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作者：Gee, Kurt H.; Linsmeier, Thomas J.; Partridge, Clay
作者单位：University System of Ohio; Ohio State University; University of Wisconsin System; University of Wisconsin Madison
摘要：We provide the first evidence after Regulation G on firms' non-GAAP EPS denominator choices and whether they are informative or opportunistic. From 2013 to 2019, 17 percent of annual non-GAAP EPS numbers use denominators different from that of GAAP diluted EPS, which makes denominator adjustments among the most prevalent individual types of non-GAAP adjustments. For firms reporting GAAP and non-GAAP profits or GAAP losses and non-GAAP profits, we provide evidence consistent with denominator ad...
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作者：Young, Donald
作者单位：Indiana University System; Indiana University Bloomington
摘要：This study examines how the source and nature of reporting standards jointly influence compliance with those standards. More specifically, I examine how decision makers' identification with the source of the standards moderates compliance with different types of standards. Type refers to whether the accounting standard is descriptive or injunctive (i.e., prescriptive). Source refers to the entity promulgating the accounting standards. I conduct three experiments in which participants face a di...
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作者：Ang, James S.; Hsu, Charles; Tang, Di; Wu, Chaopeng
作者单位：State University System of Florida; Florida State University; Hong Kong University of Science & Technology; Shanghai University of Finance & Economics; Xiamen University
摘要：We examine whether social media criticisms posted by small investors can predict subsequent firm acquisition decisions. Specifically, we use textual analysis to examine the internet stock message board postings of 303 value-reducing acquisition attempts. Our empirical evidence shows that small investors' negative postings are able to predict a potential acquirer's subsequent decision to withdraw its attempt. We further find that this predictive ability increases with the information quality of...
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作者：Free, Clinton; Trotman, Andrew J.; Trotman, Ken T.
作者单位：University of Sydney; Northeastern University; University of New South Wales Sydney
摘要：This study investigates the way that experienced audit committee Chairs address barriers to effective performance. We conceptualize audit committees as groups of individuals gathering, elaborating, and sharing information, and identify key group barriers to effective audit committee oversight. Drawing on 24 interviews with audit committee Chairs from leading Australian-listed companies, we provide new evidence of the approaches used in practice to address information-processing barriers faced ...
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作者：Yoon, Aaron S.
作者单位：Northwestern University
摘要：I use the announcement of a market liberalization pilot program in China as a shock to firms' disclosure environment and examine how Chinese firms, foreign investors, and foreign brokers respond. Using a proprietary dataset, I find that affected firms respond to the announcement by significantly increasing the number of selective private meetings hosted by major foreign brokers, but do not use public disclosure channels. I find this increase in private disclosure to be stronger among firms tha...
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作者：McAllister, Michelle; Blay, Allen D.; Kadous, Kathryn
作者单位：Northern Arizona University; State University System of Florida; Florida State University; Emory University
摘要：We experimentally examine the effects of trait professional skepticism on fraud brainstorming performance. We find that groups with a minority, but not a majority, of high trait skeptics develop more fraud ideas than control groups with no high trait skeptics. Mediation analyses indicate that minority high trait skeptic groups also assess higher fraud risk, in part because they consider more fraud ideas. Low trait skeptics who brainstorm in groups with a minority of high trait skeptics tend to...
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作者：Hann, Rebecca N.; Li, Congcong; Ogneva, Maria
作者单位：University System of Maryland; University of Maryland College Park; Duquesne University; University of Southern California
摘要：We examine the macroeconomic information content of aggregate earnings from the labor market's perspective. We use insights from the labor economics literature to characterize the information contained in aggregate GAAP earnings and its components that is relevant for predicting aggregate job creation and destruction. Our results suggest that not only does aggregate earnings news convey information about future labor market aggregates, but its information content is incremental to other macroe...
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作者：Manchiraju, Hariom; Pandey, Vivek; Subramanyam, K. R.
作者单位：Indian School of Business (ISB); University of Southern California
摘要：We use the staggered adoption of the Universal Demand Laws (UD Laws) to examine the effect of an exogenous reduction in shareholders' ability to litigate on the extent of accounting conservatism. On average, we find an increase in reporting conservatism post-UD. The increased conservatism is concentrated in firms that contemplate equity issuance, with a high proportion of monitoring investors, and high corporate governance quality. In contrast, firms with specific short-term incentives for agg...
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作者：Guttman, Ilan; Meng, Xiaojing
作者单位：New York University
摘要：We introduce real decisions (a project choice decision, an investment scale decision, and an information acquisition decision) to the Dye (1985) voluntary disclosure framework and examine how the prospect of voluntary disclosure affects managers' real decisions. Riskier projects lead to more volatile environment and hence entail higher efficiency loss at the subsequent investment scale decision stage if managers are uninformed. If managers are informed, they can withhold bad information, and t...
