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作者：Estep, Cassandra
作者单位：Emory University
摘要：I investigate how auditors integrate information technology (IT) specialist input into internal control over financial reporting (ICFR) issue classifications. Given the ill-structured nature of evaluating ICFR issues and the impact of these issues on audit quality, combining knowledge from different perspectives is likely beneficial. Drawing on social identity theory, I predict and find that a weaker one-team identity between auditors and IT specialists yields benefits. Auditors with a weaker ...
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作者：Glaeser, Stephen A.; Landsman, Wayne R.
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：We examine how product market competition affects the disclosure of innovation. Theory posits that product market competition can cause firms to increase their disclosure of innovation to deter product market competitors. Consistent with this reasoning, we find that patent applicants in more competitive industries voluntarily accelerate their patent disclosures, which are credibly disclosed via the United States Patent and Trademark Office. Our inferences are robust to using changes in industr...
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作者：Pawliczek, Andrea
作者单位：University of Missouri System; University of Missouri Columbia
摘要：I investigate the incentives provided by performance-vested stock awards (PVSAs) and the accuracy of ex ante PVSA valuations. In PVSAs, the number of shares awarded to the CEO varies based on how firm performance compares to target performance levels. The incentives provided by PVSAs and their valuations depend on the difficulty of the performance targets, which cannot be easily determined using ex ante disclosures. Using a hand-collected dataset of PVSA outcomes, I find that target difficulty...
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作者：Cazier, Richard A.; McMullin, Jeff L.; Treu, John S.
作者单位：University of North Texas System; University of North Texas Denton; Indiana University System; Indiana University Bloomington; West Virginia University
摘要：Although formal guidance instructs firms to avoid issuing lengthy and boilerplate risk factor disclosures, regulators and users of financial statements note these disclosures are excessively long and boilerplate. The persistence of these characteristics is surprising given that prior research finds that firms disclosing lengthy and boilerplate risk factors experience negative capital market consequences. We investigate two potential sources of firms' incentives to issue such disclosures by exa...
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作者：Chen, Wen; Wu, Haibin; Zhang, Liandong
作者单位：City University of Hong Kong; Singapore Management University
摘要：This study investigates the effect of managerial sentiment on corporate disclosure decisions. Using terrorist attacks in the United States as adverse shocks to managerial sentiment, we find that firms located in the metropolitan areas attacked issue more negatively biased earnings forecasts. The effect is stronger for firms with higher operating uncertainty and firms with younger, inexperienced, or less confident executives, and it is weaker for firms located in states with increasing violent ...
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作者：Cheng, Lin; Roulstone, Darren T.; Van Buskirk, Andrew
作者单位：China Europe International Business School; University System of Ohio; Ohio State University
摘要：We examine how the ordering of information within quarterly earnings announcements influences investor response to those announcements. Specifically, we examine whether earlier discussion of earnings information, and earlier discussion of qualitatively positive or negative information, is associated with stronger responses to that information. Controlling for the linguistic content of the earnings announcement, we find a positive relation between investor response to information and the priori...
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作者：Bentley, Jeremiah W.; Lambert, Tamara A.; Wang, Elaine (Ying)
作者单位：University of Massachusetts System; University of Massachusetts Amherst; Lehigh University
摘要：We investigate whether and how a critical audit matter (CAM) disclosure affects managers' real operating decisions in two contexts (issuing a loan that decreases versus increases the average risk profile of loan portfolios, or choosing to hedge versus speculate on commodity risk). We expect that a CAM disclosure increases disclosure costs and implies expanded auditor support for both types of activities, but we expect implied auditor support to be valued more highly for risk-increasing than fo...
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作者：Brazel, Joseph F.; Leiby, Justin; Schaefer, Tammie J.
作者单位：North Carolina State University; University of Illinois System; University of Illinois Urbana-Champaign; University of Missouri System; University of Missouri Kansas City
摘要：In three experiments, we find that rewarding professional skepticism can backfire and decrease skepticism on future audit tasks where red flags are present. We focus on rewards for costly skepticism: skepticism that is ex ante appropriate, but generates incremental ex post costs and does not identify a misstatement. Auditors interpret a reward for costly skepticism as a better-than-expected outcome and view subsequent tasks from a risk-averse gain frame. As a result, auditors seek to avoid the...
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作者：Hammersley, Jacqueline S.; Ricci, Michael A.
作者单位：University System of Georgia; University of Georgia; State University System of Florida; University of Florida
摘要：Auditors experience difficulty auditing accounts for which it is difficult to identify in advance all the evidence necessary to perform an effective audit. These accounts are challenging because they commonly require auditors to collect additional, relevant evidence in response to new information received during evidence collection. We address this experimentally by examining whether changing the focus of audit programs from plan-focused (i.e., focused on the planned audit procedures) to goal-...
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作者：Brochet, Francois; Limbach, Peter; Schmid, Markus; Scholz-Daneshgari, Meik
作者单位：Boston University; University of Cologne; University of St Gallen; Helmholtz Association; Karlsruhe Institute of Technology
摘要：Our study is the first to provide systematic evidence of a hump-shaped CEO tenure-firm value relation. Cross-sectionally, firm value starts to decline after fewer years of CEO tenure in more dynamic industries, if CEOs are less adaptable to changes, and in the presence of greater labor market frictions. Overall, the dynamics of CEO-firm match quality appear to be a first-order driver of the CEO tenure-firm value association, as explained by CEO characteristics (adaptability), firm/industry cha...
