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作者：Commerford, Benjamin P.; Hatfield, Richard C.; Houston, Richard W.; Mullis, Curtis
作者单位：University of Kentucky; University of Alabama System; University of Alabama Tuscaloosa; University System of Georgia; Georgia State University
摘要：In this study, we examine how information foraging by auditors affects audit evidence collection in two distinct contexts, and show how a small change to audit methodology mitigates the potentially harmful effects of foraging. Information Foraging Theory explains how, while navigating an information environment, individuals learn to acquire information through personally experiencing the costs incurred and the values obtained from information. Consistent with the theory, we find that auditors ...
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作者：Huang, Ying; Jennings, Ross; Yu, Yong
作者单位：University of Texas System; University of Texas Austin
摘要：This study examines the effect of product market competition on managerial disclosure of earnings forecasts using large reductions in U.S. import tariff rates to identify an exogenous increase in competition for domestic firms in U.S. product markets. Our difference-in-differences estimations show that tariff reductions are associated with a significant decrease in management forecasts of annual earnings by U.S. domestic firms. Further, this decrease is more pronounced when the tariff rate red...
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作者：Farrell, Anne M.; Grenier, Jonathan H.; Leiby, Justin
作者单位：University System of Ohio; Miami University; University System of Georgia; University of Georgia
摘要：Online labor markets allow rapid recruitment of large numbers of workers for very low pay. Although online workers are often used as research participants, there is little evidence that they are motivated to make costly choices to forgo wealth or leisure that are often central to addressing accounting research questions. Thus, we investigate the validity of using online workers as a proxy for non-experts when accounting research designs use more demanding tasks than these workers typically com...
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作者：Blouin, Jennifer L.; Bushee, Brian J.; Sikes, Stephanie A.
摘要：We classify all institutional investors that file Form 13-F over the period 1995-2013 as either tax-sensitive or tax-insensitive based on their trading behavior and portfolio characteristics. We examine tests of the effects of investor tax-sensitivity on portfolio rebalancing, price pressure, and fund performance, and compare our measure of tax-sensitive institutional investor ownership to three measures used in prior studies. We show that our measure of tax-sensitive investors dominates other...
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作者：Kelly, Khim; Presslee, Adam; Webb, R. Alan
作者单位：State University System of Florida; University of Central Florida; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Waterloo
摘要：We investigate the effects of tangible versus cash rewards in a repeated tournament setting. Firms frequently use tangible rewards to motivate employees, but minimal research has examined their effects relative to cash rewards. We conducted a field experiment at a rug wholesaler that held two consecutive sales tournaments for its retailers. The top three retailers in each tournament received either cash rewards or tangible rewards (gift cards) to be distributed to sales staff. We do not find s...
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作者：Akbas, Ferhat; Jiang, Chao; Koch, Paul D.
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of South Carolina System; University of South Carolina Columbia; University of Kansas
摘要：This study shows that the recent trajectory of a firm's profits predicts future profitability and stock returns. The predictive information contained in the trend of profitability is not subsumed by the level of profitability, earnings momentum, or other well-known determinants of stock returns. The profit trend also predicts the earnings surprise one quarter later, and analyst forecast errors over the following 12 months, suggesting that sophisticated investors underreact to the information i...
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作者：Xue, Hao
作者单位：New York University
摘要：The paper investigates strategic interactions between an independent analyst and an affiliated analyst in the context of issuing stock recommendations. Compared to the independent analyst, the affiliated analyst has superior information, but faces a conflict of interest. I show that the independent analyst disciplines the affiliated analyst's biased forecasting behavior. Meanwhile, the independent analyst sometimes herds with the affiliated analyst to improve his recommendation accuracy. Becau...
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作者：Karpoff, Jonathan M.; Koester, Allison; Lee, D. Scott; Martin, Gerald S.
作者单位：University of Washington; University of Washington Seattle; Georgetown University; Nevada System of Higher Education (NSHE); University of Nevada Las Vegas; American University
摘要：An extensive literature examines the causes and effects of financial misconduct based on samples drawn from four popular databases that identify restatements, securities class action lawsuits, and Accounting and Auditing Enforcement Releases (AAERs). We show that the results from empirical tests can depend on which database is accessed. To examine the causes of such discrepancies, we compare the information in each database to a detailed sample of 1,243 case histories in which regulators broug...
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作者：Christensen, Dane M.; Mikhail, Michael B.; Walther, Beverly R.; Wellman, Laura A.
作者单位：University of Oregon; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Northwestern University; Utah System of Higher Education; University of Utah
摘要：In this study, we examine whether sell-side security analysts gain access to value-relevant information through political connections. We measure analysts' political connections based on political contributions at the brokerage-house level. We argue that if brokerages are able to obtain private information through their political connections, then analysts at politically connected brokerages should issue more profitable stock recommendations, and this increased profitability should be more pro...
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作者：Biddle, Gary C.
作者单位：University of Hong Kong
