Business Commons^™

Leveraging Chatgpt For Enhancing The Internal Audit Process – A Real-World Example From A Large Multinational Company, Scott Emett, Marc Eulerich, Egemen Lipinski, Nicolo Prien, David A. Wood

Faculty Publications

We discuss how the internal audit function (IAF) of a large multinational energy company, Uniper, is starting to use ChatGPT to improve automation of internal auditing. We investigate the benefits and challenges of integrating ChatGPT into internal audit processes and assess its impact on the efficiency and effectiveness of the IAF. Uniper has implemented ChatGPT into parts of audit preparation, fieldwork, and audit reporting. On their initial tests, they estimate efficiency gains ranging from 50 to 80 percent for various processes. We report key risks and challenges with using ChatGPT in internal auditing as well as the initial key practices …

The Dark Side Of Robotic Process Automation, Marc Eulerich, Nathan Waddoups, Martin Wagener, David A. Wood

Faculty Publications

Prior research on Robotic Process Automation (RPA) has largely focused on how it benefits firms and employees. In contrast, we interview 26 high-profile RPA stakeholders at a Fortune 500 firm to ascertain challenges, drawbacks, or pitfalls of using RPA. We identify five key problems related to RPA usage: (1) RPA is often used as a quick-fix band-aid instead of fixing core system issues, (2) RPA can cause serious control and security issues, (3) the true cost of RPA is often misunderstood and understated, (4) RPA governance is complicated and challenging, and (5) RPA usage can lead to a loss of …

Development Of A Framework Of Key Internal Control And Governance Principles For Robotic Process Automation (Rpa), Marc Eulerich, Nathan Waddoups, Martin Wagener, David A. Wood

Faculty Publications

Although robotic process automation (RPA) usage is growing rapidly in accounting, concerns are emerging regarding the internal controls and overall governance structure surrounding RPA. To help address these concerns, we use a design science research approach and work with a Fortune 500 company to develop an RPA governance framework. The framework consists of 4 governance areas and 14 control requirements, which help maximize the benefits and minimize the risks associated with the use of RPA. We validate that the framework is useful and generalizable to many organizations by presenting the framework to and subsequently interviewing and surveying 84 professionals at …

Chatbots Mitigate Help-Seeking Avoidance, James Gaskin, Eva Blondeel, Ryan Schuetzler, Rachel Serre, Jacob Steffen, David A. Wood

Faculty Publications

This research explores the transformative role of large language model (LLM) chatbots in fostering help-seeking behaviors among introverted and underrepresented students in educational settings. Despite the importance of help-seeking for academic success, certain groups exhibit avoidance behaviors due to self-presentation concerns and stereotype threats. By integrating LLM chatbots as non-judgmental, anonymous teaching assistants in an introductory information systems course, the study demonstrates how technology can mitigate these behaviors and promote inclusivity. The chatbots provided real-time, unbiased support, significantly enhancing the students' willingness to engage in help-seeking behaviors without fear of judgment. This practical application of chatbots not only supports academic …

Assessing Virtual Reality’S Influence On Honesty In Reporting, Jeffrey Pickerd, Nathan Waddoups, David A. Wood, Xiaomei (Grazia) Xiong

Faculty Publications

Organizations, businesses, and society are exploring and adopting virtual reality (VR) and augmented reality (AR). VR is expected to boost the global economy by $1.5 trillion by 2030. In this study, we focus on the effect of VR on an important accounting variable—reporting honesty. We examine reporting honesty across two tasks, various measures, and various populations, that are commonly used in existing research. In our initial experiment, participants misreported more in a dice rolling task when performing it in a VR setting than in a non-VR setting. However, in a second and third experiment attempting to replicate and extend our …

Improving The Production And Reviewing Of Design Science Research In Accounting, Noah Myers, Mason Snow, Nathan Waddoups, David A. Wood

Faculty Publications

Design Science Research (DSR) is a rigorous research methodology widely used in other fields like computer science and engineering, but its application in accounting is still relatively limited. This paper reviews the implementation of DSR published in accounting journals and provides recommendations to improve the authoring and reviewing processes. We review 51 DSR articles published in accounting journals between 2011 and 2023. The analysis identified areas where papers excelled and fell short, leading to recommendations in the following key aspects: adherence to a research framework, validation of research questions, defining objectives of artifacts, developing a more diverse set of artifacts, …

Short And Synthetically Distort: Investor Reactions To Deepfake Financial News, Scott Emett, Marc Eulerich, Jeffrey Pickerd, David A. Wood

Faculty Publications

Recent advances in artificial intelligence have led to new forms of misinformation, including highly realistic “deepfake” synthetic media. We conduct three experiments to investigate how and why retail investors react to deepfake financial news. Results from the first two experiments provide evidence that investors use a “realism heuristic,” responding more intensely to audio and video deepfakes as their perceptual realism increases. In the third experiment, we introduce an intervention to prompt analytical thinking, varying whether participants make analytical judgments about credibility or intuitive investment judgments. When making intuitive investment judgments, investors are strongly influenced by both more and less realistic …

Disclosure Benchmarking By Lawyers: Evidence Fromthe Ipo Setting, Michael S. Drake, Jeff Mcmullin, Kenneth Merkley, Chase Potter, John Treu

Faculty Publications

Lawyers play an important advisory role in drafting financial reports, yet empirical evidence documenting the influence of external legal counsel on this process remains sparse. This study focuses on a specific aspect of lawyers’ drafting process: the practice of reviewing disclosures previously filed by other issuers—a practice termed “disclosure benchmarking.” Using initial public offering (IPO) disclosures as the setting, we find that disclosure benchmarking is associated with amore efficient Securities and Exchange Commission (SEC) review process. We further find that it is associated with several measures of disclosure quality, including disclosures that are less likely to be revised in subsequent …

Technological Health: A New Perspective On Individual Well-Being In The Digital Era, Tanner Skousen, J. Andrew Lear

Faculty Publications

An individual’s well-being encompasses various facets, including physical, mental, and social health. This paper proposes that in a technology-dependent world, practitioners and researchers must adopt a “technological health” perspective. Through conceptual inquiry and extensive literature review, we propose the concept of technological health, drawing from related concepts. We present an initial framework that explicates technological health through the dimensions of access to technology, ability to use technology, and autonomy over technology. Practically, this new perspective refocuses our understanding of technological challenges and invites an ideology of diagnoses and treatments to comprehensively address individual-level concerns associated with personal technology use. Academically, …

Automating Evaluation Of Skill Assessment To Promote Skill Acquisition In The Area Of Data Analytics Automation, Joshua G. Coyne, Scott L. Summers, Brigham Villanueva, David A. Wood

Faculty Publications

As accounting increasingly embraces automation and data analytics, proficient skill assessment remains a challenge. We introduce an automated tool that streamlines the evaluation of Alteryx workflows. Utilizing the design science methodology, our tool effectively executes and compares Alteryx workflows against a solution, providing score and feedback. Validation demonstrates remarkable gains; our tool is error-free and 9 to 146 times faster than manual evaluation. The tool’s efficiency, accuracy, and user-friendliness make it much more feasible to assign unstructured Alteryx assignments for student development. Enhanced technology skills will promote hiring and productivity gains associated with automation in accounting.

Gauging Scholarly Engagement: An Investigation Into Topic Popularity Within The Asee Cit Division, Barry M. Lunt, Mudasser Fraz Wyne, David A. Wood

Faculty Publications

Since 2011, the Computing and Information Technology (CIT) division of the ASEE has had 427 papers presented and published in the proceedings of the ASEE Annual Conference and Exposition. This paper looks at these 427 papers as a whole, providing descriptive statistics, giving the top institutions and authors that have contributed to these papers, and providing information regarding the impact of the top ten papers, as measured by their citations and downloads. We have also used the ChatGPT version 4.0 to provide categories for the 427 papers, providing insight into the most popular topics for papers in the CIT division.

Explaining Corporate Tax Avoidance, Andrew Belnap, Kaitlyn Kroeger, Jacob Thornock

Faculty Publications

The tax avoidance literature identifies dozens of variables that are related to corporate tax avoidance, but it lacks a framework for understanding the relative importance of these variables and the theories that drive these relations. We distill thirty years of tax avoidance research into key theories, and then use novel empirical techniques to quantify the relative and total importance of proposed explanations. We find that factors tied to investment opportunities contribute more to explained variation than other proposed theories. On the other hand, agency costs and financial reporting concerns explain very little variation in tax avoidance proxies, while operating metrics …

Triangulating The Likelihood Of Confusion: Linguistics And Consumer Surveys, Eric D. Derosia, Jesse Egbert, Thomas Lee

Faculty Publications

This Article highlights contributions that linguistic analysis can offer in the assessment of the likelihood of confusion in trademark infringement cases. Parties in such cases often engage an expert witness to conduct a survey that measures the likelihood of consumer confusion. We show how an expert linguist can provide important, nonintuitive dynamics of corroboration. We introduce “expert triangulation” as a conceptual framework to analyze whether, and to what extent, experts in linguistics and consumer surveys can corroborate one another. That is, having two different sources of empirical evidence which lead to similar conclusions should be a benefit to the courts, …

The Efects Of Cryptocurrency Wealth On Household Consumption And Investment, Darren Aiello, Scott R. Baker, Tetyana Balyuk, Marco Di Maggio, Mark Johnson, Jason Kotter

Faculty Publications

We use bank transaction data from millions of U.S. households to:

1. Characterize retail crypto investing
2. Examine the efect of crypto wealth on consumption and investment behavior
3. Zoom in on the efect of crypto wealth on housing spending
4. Document spillovers of crypto wealth to the local economy

Did I Buy The Right Gadget? A Methodological Replication Study, Paul A. Weisgarber, Joseph S. Valacich, Jeffrey L. Jenkins

Faculty Publications

This study is a methodological replication of Valacich et al.’s (2018) experiment, which investigated the evaluability hypothesis in the context of technology product assessment. The evaluability hypothesis suggests that the evaluation context significantly influences how users assess and perceive technology features. More specifically, it posits that the perception of technology features, as well as the ultimate selection of a technology product, is likely to differ depending on whether a single technology is evaluated in isolation or multiple technologies are evaluated simultaneously. Our replication study consisted of 310 participants who evaluated two wireless internet products with two product features – connection …

Distribution: Understanding Customer-Facing Logistics In Africa, Emmanuel T. Kodzi

Faculty Publications

Companies seeking to do business in Africa often focus more on challenges they need to address, rather than opportunities presented to them. The need to manage their investments across diverse countries, population profiles, infrastructure development levels, and local capabilities is viewed in terms of complexity. However, improved situational understanding will better inform investment decisions regarding product movements among points of origin, production, and consumption. Several aspects of logistics may be considered in this regard, but we focus on customer-facing logistics. We assume that few companies have the capability and resources to both produce and deliver products to end-buyers in a …

Moral Decision-Making In Organizations, Maryam Kouchaki, Isaac Smith

Faculty Publications

Research on moral decision-making in organizations has expanded significantly over the past few decades. In this review, we build on prior comprehensive reviews on the topic to provide an updated view of the field, based on the latest findings. We first provide a brief historical overview of influential theories of moral decision-making and then describe the individual characteristics, interpersonal factors, and organizational factors that have been shown to influence people's morally relevant choices, as well as the cognitive, affective, and even physiological processes at play. We then provide a more critical view of the field and focus on what we …

Student Interaction With Generative Ai: An Exploration Of An Emergent Information-Search Process, Ryan M. Schuetzler, Justin Scott Giboney, Taylor M. Wells, Benjamin Richardson, Tom Meservy, Cole Sutton, Clay Posey, Jacob Steffen, Amanda Lee Hughes

Faculty Publications

ChatGPT, a generative artificial intelligence, is one of the fastest-adopted tools in history and has quickly become a valued tool in education. This study seeks to understand how generative artificial intelligence has changed the information search process. We collected prompts submitted to ChatGPT and thoughts about ChatGPT responses through a survey of 455 students at a US university. Using thematic analysis, we identified ways that ChatGPT changes the information search process of students by supporting diverse information needs, allowing cycling of prompt adjustments, and promoting easy adoption of results.

The Role Of Trauma-Informed Care In Sustaining The Well-Being Of Refugee Entrepreneurs, Arielle Badger Newman, Lisa Jones Christensen

Faculty Publications

Many international aid organisations encourage refugees to engage in entrepreneurship after relocation to a new host country. Yet, this encouragement may be based on data about entrepreneurship from non-refugee populations, particularly those who do not experience the common traumas of forced relocation. This chapter addresses the topic of trauma and refugee entrepreneurship by asking the following question: How can support organisations encourage well-being (or mitigate ill-being) for entrepreneurial refugees? In doing so, we propose how organisations supporting refugee entrepreneurship can incorporate trauma-informed practices. Specifically, there are four “Rs” to being trauma-informed, which correspond to: realisation, recognition, response, and resistance to …

Detecting Social Desirability Bias With Human-Computer Interaction: A Mouse-Tracking Study, Paul A. Weisgarber, Joseph S. Valacich, Jeffrey L. Jenkins, David Kim, Manasvi Kumar

Faculty Publications

Social desirability bias undermines self-report accuracy, necessitating novel approaches to detect and mitigate its impact. This study aimed to investigate the influence of social desirability on questionnaire responses by analyzing mouse cursor movements and answering behaviors. Respondents (n=238) completed a health and wellness questionnaire while their mouse cursor data was recorded. The results revealed that individuals under a higher social desirability treatment exhibited significantly longer response times and slower mouse cursor speeds, supporting the hypothesis that they may engage in more cautious and deliberate responding. However, no significant differences were found in terms of mouse cursor deviations or answer switches …

Gender Difference On Internal Equity: Evidence From The Hospitality Industry In Ghana, Patricia Peprah

Faculty Publications

It is a hypothetical position that employees in the hospitality industry in Ghana experience salary disparities based on the gender of the employee. Pay disparities exist because of unconscious biases in areas such as hiring, promotions, performance reviews, and salary decisions. In ensuring equal pay for equal work to fulfill the International Labor Organization (ILO) convention, this study investigated the internal equity pay of the employees in Ghana's hospitality industry based on equal work. This quantitative association study adopted a self-constructed research instrument to measure internal equity pay and randomly selected 350 respondents in the hospitality industry in Ghana to …

The Chatgpt Artificial Intelligence Chatbot: How Well Does It Answer Accounting Assessment Questions?, David A. Wood, Ryan D. Sommerfeldt, Muskan P. Achhpilia, Mollie T. Adams, Sanaz Aghazadeh, William G. Heninger, Jeffrey Pickerd, Jon Kerr

Faculty Publications

ChatGPT, a language-learning model chatbot, has garnered considerable attention for its ability to respond to users’ questions. Using data from 14 countries and 186 institutions, we compare ChatGPT and student performance for 28,085 questions from accounting assessments and textbook test banks. As of January 2023, ChatGPT provides correct answers for 56.5 percent of questions and partially correct answers for an additional 9.4 percent of questions. When considering point values for questions, students significantly outperform ChatGPT with a 76.7 percent average on assessments compared to 47.5 percent for ChatGPT if no partial credit is awarded and 56.5 percent if partial credit …

Influencing Air Force Logisticians' Information Seeking During The Covid-19 Pandemic: The Role Of Organizational Meetings In An Expanded Prism Framework, Matthew D. Roberts, Christopher T. Price, Seong-Jong Joo

Faculty Publications

Purpose: This research aims to understand how organizational workplace meetings surrounding the COVID-19 pandemic impacted logistics Airmen across the United States Air Force and how these meetings impacted their risk seeking behavior on social media.

Design/methodology/approach: This survey research tested an extended Planned Risk Information Risk Seeking Model (PRISM) with organizational meetings as an antecedent to determine if current meetings influenced an Airman's perceived behavioral control, attitude toward seeking, subjective norms, knowledge sufficiency and intention to seek information regarding COVID-19.

Findings: Results of the CFA showed that the expanded PRISM model had good model fit. Additionally, using …

Cost Estimation Trends For Major Defense Acquisition Programs, Sammantha Jones, Edward D. White, Jonathan D. Ritschel, Shawn M. Valentine

Faculty Publications

The authors use both descriptive and inferential techniques to investigate average and standard deviation trends in cost estimates for major defense acquisition programs (MDAPs) grouped into decades from the 1970s to 2010s. For total program-cost-growth factors (CGFs), the 2010s exhibited lower CGFs compared to the 1990s. For the program-acquisition-unit cost (PAUC) CGFs, the 2010s appear lower than the 1990s and borderline lower than the 1970s. A statistically significant decreasing trend in the standard deviations of total program CGFs throughout the decades was identified. This lowering variability trend also appeared for PAUC CGFs from the 1980s onward. This finding appears to …

A Case For An Independent Cyber Force, Ian C. Heffron, Mark Reith, James W. Dean

Faculty Publications

Although cyberspace is considered the newest warfighting domain, military analysts and scholars have opined the United States remains woefully behind its peers in cyberspace and have called for the creation of a separate cyber service component. Yet a cohesive and robust discussion on this topic has yet to emerge. This article proposes a general framework that builds on the Joint doctrine, organization, training, materiel, leadership and education, personnel, facilities, and policy (DOTMLPF-P) analysis to address questions of sufficiency and necessity. Such analysis reveals DoD cyber operations do not maximize the United States’ ability to fight a cyber war, especially when …

In The Ceo We Trust: Negative Effects Of Trust Between The Board And The Ceo, Kee-Hong Bae, Sadok El Ghoul, Zhaoran (Jason) Gong, Omrane Guedhami

Faculty Publications

In this study, we investigate whether and how trust between board members and the CEO (board–CEO trust) affects the performance of mergers and acquisitions. Contrary to conventional wisdom, we find that firms with higher levels of board–CEO trust exhibit poor M&A performance. High trust is associated with low acquisition announcement returns, long-term stock return performance, and post-deal operating performance. This negative effect of board–CEO trust is more pronounced among acquiring companies prone to agency problems. Our results suggest that, in the institutional setting of corporate boards, high trust can be too much of a good thing.

The Impact Of Growth Mindset Training On Entrepreneurial Action Among Necessity Entrepreneurs: Evidence From A Randomized Control Trial, Shad Morris, W. Chad Carlos, Geoffrey Kistruck, Robert Lount, Tumsify Elly Thomas

Faculty Publications

Although entrepreneurship training programs are designed to help necessity entrepreneurs acquire skills and capabilities to take entrepreneurial action, participants in these programs often fail to do so. In partnership with a local government agency, we conducted a randomized field experiment involving 165 entrepreneurs in rural Tanzania where in addition to providing technical-skills training, approximately half of the participants also received ‘growth mindset’ psychological training. Those who received the growth mindset training displayed more entrepreneurial action in their business than those in the control group. Importantly, higher levels of entrepreneurial self efficacy mediated the positive impact on entrepreneurial action displayed by …

Sophisticated Vs. Rugged: Examining Gendered Brand Communication Styles And Social Media Engagement, Joanne T. Cao, Jamye Foster, Gallayanee S. Yaoyuneyong, Lacey K. Wallace

Faculty Publications

Advertising and marketing managers understand that not all brands need to be on social media, but what is not clearly understood is consumers’ engagement expectations for brands that are on social media. Therefore, this study investigates the impact of brand personality, specifically sophisticated and rugged brands, and gendered communication styles on consumers’ expectations of social media engagement. A scenario-based experiment is performed to test the hypotheses using a mock brand. The main study consisted of a Qualtrics consumer panel, and a MANOVA was utilized to examine three components of social media engagement (consumption, contribution, and creation) on the two brand …

Leadership And Its Impact On Supervision In The Hospitality Industry, Patricia Peprah, Williams Kwasi Peprah

Faculty Publications

The hospitality industry has a high human capital requirement that depends on leadership to provide supervision for the utmost customer satisfaction. Based on this, this research looks at the impact of leadership on supervision among hotels in Ghana. This research was a causal research design. It investigated the correlational effect of leadership on supervision in the hospitality industry in Ghana. Data obtained from Ghana Tourism Authority’s National Data 2020 on Tourism Human Resource put the employees of 3 to 5 stars hotels as the study population at 7,347. The researcher used a Raosoft sample size calculator to determine a sample …

Framing Esports’ Jedi Issues: A Case Study In Media Irresponsibility, David Painter, Brittani Sahm

Faculty Publications

Purpose: This investigation analyzes Asian, European, and North American coverage of esports’ justice, equity, diversity, and inclusion (JEDI) issues as a case study of media organizations’ communications on these topics.

Design/methodology/approach: This quantitative content analysis describes coverage of esports’ race, gender, age, and social class issues to draw inferences about media organizations’ abilities to meet their social responsibilities when reporting on organizational JEDI issues.

Findings: There were significant differences across continents; however, most stories only mentioned gender and age, seldom noting esports’ race or social class issues.

Research limitations/implications: Although all stories analyzed were published in English, the findings extend …