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Full-Text Articles in Business
Narcissism In Public Accounting Firms, Michael D. Akers, Don E. Giacomino, Jill Weber
Narcissism In Public Accounting Firms, Michael D. Akers, Don E. Giacomino, Jill Weber
Michael D. Akers
Similar to other characteristics, narcissism is a personality trait that varies by individuals. While the management literature has examined narcissism, there is limited research of narcissism of professionals in public accounting firms. Using the Narcissistic Personality Inventory (NPI), we assess the level of narcissism in practitioners of public accounting firms by examining differences by gender, age, practice area and position. We also compare our results with a prior study that examined narcissism of accounting majors. Our findings show there are differences between accounting students and accounting professionals for certain traits and gender. We also find there are differences for professionals …
Audit Firms And Disclaimers: Is The Bar Set Too Low?, Keith Hooper, Jing Wang
Audit Firms And Disclaimers: Is The Bar Set Too Low?, Keith Hooper, Jing Wang
Faculty of Business - Papers (Archive)
This paper makes the case for the greater regulation of auditors. It argues that the courts are too sympathetic to the use of disclaimers to escape liability to investors, individual shareholders and third parties. The approach is to review the relevant court cases which established the concept of "opinions" and disclaimers as a means of protection and argue for greater recognition of the wider impact of the audit role. The paper finds that the best explanation as to why auditors use disclaimers is Social Darwinism. The application of professional ethics as adumbrated in various codes is not relevant to this …
Corporate Opacity And Cost Of Debt For Family Firms, Liangbo Ma, Shiguang Ma, Gary G. Tian
Corporate Opacity And Cost Of Debt For Family Firms, Liangbo Ma, Shiguang Ma, Gary G. Tian
Faculty of Business - Papers (Archive)
This paper uses a sample of Chinese firms to examine the impact of corporate opacity on the relationship between family control and firms' cost of debt. We find that family control is associated with a lower cost of debt on average, and a negative impact exists mainly in firms with relatively low corporate opacity. We further provide evidence that the moderating effect of corporate opacity becomes more pronounced when investors' perception of controlling families' moral hazard of expropriation is higher. Our results are robust to alternative opacity proxies and controlling for endogeneity of family control using the instrumental variable method. …
How Do Broad-Based Stock Option Grants Affect Firms’ Overall Future Productivity?, Wenjing Ouyang, Menghistu Sallehu
How Do Broad-Based Stock Option Grants Affect Firms’ Overall Future Productivity?, Wenjing Ouyang, Menghistu Sallehu
Eberhardt School of Business Faculty Articles
We investigate the impact of broad-based stock option grants on future firm productivity using a sample of U.S. firms from 1990-2006. We focus on stock option grants predominantly to rank-and-file employees (broad-based stock options) because a significant amount of stock options are granted to rank-and-file employees other than the top five named executives. This study documents that the extent of broad-based stock option grants are negatively associated with future firm productivity. Further tests show this negative relation is attenuated by a firm's financial constraints and stock price informativeness but is exacerbated in "new economy" industry firms. We interpret these results …