Open Access. Powered by Scholars. Published by Universities.®
- Discipline
-
- Corporate Finance (352)
- Social and Behavioral Sciences (135)
- Asian Studies (100)
- International and Area Studies (100)
- Finance and Financial Management (67)
-
- Business Law, Public Responsibility, and Ethics (65)
- Education (47)
- Portfolio and Security Analysis (44)
- Higher Education (38)
- Technology and Innovation (28)
- Human Resources Management (25)
- Taxation (23)
- Physical Sciences and Mathematics (21)
- Management Information Systems (20)
- Economics (14)
- Computer Sciences (12)
- Public Affairs, Public Policy and Public Administration (11)
- Entrepreneurial and Small Business Operations (10)
- Law (10)
- Communication (9)
- Finance (8)
- Social Media (7)
- Strategic Management Policy (7)
- Accounting Law (6)
- Educational Methods (6)
- Sociology (6)
- Statistics and Probability (6)
- International Business (5)
- Keyword
-
- China (24)
- Corporate governance (24)
- Audit quality (21)
- Singapore (21)
- Accounting (19)
-
- Voluntary disclosure (16)
- Management forecasts (15)
- Tax avoidance (15)
- Disclosure (14)
- Analysts (12)
- Earnings management (12)
- Data analytics (9)
- Executive compensation (9)
- Earnings quality (8)
- Experiential learning (8)
- Information asymmetry (8)
- Information environment (8)
- Insider trading (8)
- Institutional investors (8)
- Regulation (8)
- Audit fees (7)
- Auditor independence (7)
- Family firms (7)
- Financial statements (7)
- Innovation (7)
- Internal control (7)
- Management forecast (7)
- Manufacturing (7)
- Political connections (7)
- Productivity (7)
- Publication Year
Articles 31 - 60 of 756
Full-Text Articles in Accounting
Economic Consequences Of Public Pension Accounting Regulation Changes: Evidence From Housing Markets And Local Economies, Grace Haoqing Fan
Economic Consequences Of Public Pension Accounting Regulation Changes: Evidence From Housing Markets And Local Economies, Grace Haoqing Fan
Research Collection School Of Accountancy
I examine whether, and through which channels, government pension accounting regulations affect local housing markets and economies. Using both a contiguous border-county approach across multiple states and a single-state study in California, I find that regions exposed to more severe state-level pension underfunding experience lower housing market growth after the introduction of Government Accounting Standards Board (GASB) regulations 67 and 68, which significantly enhance the transparency of public pension underfunding. The effect is more pronounced in states heavily impacted by the new regulations and in counties more reliant on state funding. Further analyses suggest that the observed effect is driven …
Misinformation Regulations: Early Evidence On Corporate Social Media Strategy, Richard M. Crowley, Yun Lou, Samuel T. Tan, Liandong Zhang
Misinformation Regulations: Early Evidence On Corporate Social Media Strategy, Richard M. Crowley, Yun Lou, Samuel T. Tan, Liandong Zhang
Research Collection School Of Accountancy
Against the backdrop of an increasing threat of misinformation on social media, several countries have enacted regulations to curb the spread of misinformation. This study examines how corporate social media strategy responds to misinformation regulations. Using a large cross-country dataset of corporate tweets and a stacked regression analysis, we show that misinformation regulations lead to less corporate social media disclosure. This result suggests that by deterring misinformation, these regulations reduce firms’ need to use social media to counteract its adverse effects. Additional analyses show that the effect is more pronounced among countries with higher social media usage and countries with …
Individual Or Team Analyst Reports? The Organization Of Analyst Research Activities, Xia Chen, Ning Jia, Dan Wang
Individual Or Team Analyst Reports? The Organization Of Analyst Research Activities, Xia Chen, Ning Jia, Dan Wang
Research Collection School Of Accountancy
Given the importance of research resource allocation within brokerage firms, we examine key factors that influence the issuance of individual vs. team analyst reports. Using a comprehensive sample of analyst reports from China for the 2008-2021 period, we find that this decision is influenced by (1) the brokerage firm's client interests, whereby firms held by the brokerage firm's mutual fund clients and firms that are the brokerage firm's underwriting clients receive more team than individual reports from the brokerage firm, and (2) the nature of corporate events, whereby routine events receive more team reports and nonroutine events receive more individual …
Understanding Gender Differences In Digital Readiness During Digital Transformation In Accounting Functions: Accounting Professionals’ Perspective, Benjamin Lee, Clarence Goh, Gary Pan, Poh-Sun Seow
Understanding Gender Differences In Digital Readiness During Digital Transformation In Accounting Functions: Accounting Professionals’ Perspective, Benjamin Lee, Clarence Goh, Gary Pan, Poh-Sun Seow
Research Collection School Of Accountancy
Research aims: To examine gender differences in digital readiness during digital transformation in accounting functions, addressing a knowledge gap in current accounting literature. Design/Methodology/Approach: Survey of 297 accounting professionals (180 men, 117 women) with 27 questions on digital readiness perceptions, analysed using exploratory factor analysis and one-way analysis of variance (ANOVA) tests. Research findings: Women exhibited higher overall digital readiness than men, particularly feeling more empowered by senior management and better equipped to continue job tasks during digital transformation. No gender differences were found in perceptions of knowledge and skills, barriers, or organisational strategy. Theoretical contribution/Originality: Challenges traditional stereotypes about …
Bogging Down Investors: An Unintended Consequence Of Litigation Risk, Siwen Fu, Ke Wang, Liandong Zhang, Liu Zheng
Bogging Down Investors: An Unintended Consequence Of Litigation Risk, Siwen Fu, Ke Wang, Liandong Zhang, Liu Zheng
Research Collection School Of Accountancy
Securities litigation risk is a well-recognized yet underexplored source of financial reporting complexity or unreadability. This study examines the effect of litigation risk on the readability of corporate financial reports. The 1999 Silicon Graphics Inc. (SGI) court ruling unexpectedly reduced litigation risk for firms within the Ninth Circuit Court's jurisdiction. Using a difference-in-differences design centered on the SGI court ruling, we find that, while the readability of financial reports generally declines over the sample period, treated firms in the Ninth Circuit experience a comparatively smaller decline in readability than control firms in other states after the ruling. Put differently, treated …
Institutional Dual-Holders And Corporate Disclosures: A Natural Experiment, Lin Cheng, Qiang Cheng, Liwei Weng, Mark Yuzhi Yan
Institutional Dual-Holders And Corporate Disclosures: A Natural Experiment, Lin Cheng, Qiang Cheng, Liwei Weng, Mark Yuzhi Yan
Research Collection School Of Accountancy
This study examines the impact of the presence of institutional dual-holders, whose portfolios hold both loans and equity securities of the same firms, on those firms' voluntary disclosures. Using mergers between institutional shareholders and lenders to the same firms as exogenous shocks to identify firms with institutional dual-holders that have high relative equity ownership, we document that such firms are less likely to provide management forecasts and disclose fewer voluntary 8-K items. In cross-sectional analyses, we find that the reduction in voluntary disclosures is more pronounced when institutional dual-holders have higher board representation and when firms have lower litigation risk. …
A Rating System To Evaluate Non-Gaap Exclusion Quality, Patricia M. Dechow, Wei Ting Loh, Annika Yu Wang
A Rating System To Evaluate Non-Gaap Exclusion Quality, Patricia M. Dechow, Wei Ting Loh, Annika Yu Wang
Research Collection School Of Accountancy
We develop a rating system to evaluate the quality of individual non-GAAP exclusions. Our perspective is that high-quality exclusions reflect nonrecurring economic transactions, are transitory accounting adjustments, or have little usefulness in forecasting cash flows. We use four approaches to rate exclusions. We evaluate the serial correlation of the exclusion, survey accounting academics’ views, obtain practitioner ratings from the CFA Institute, and identify the exclusions approved by the Chinese securities regulator. A firm’s exclusion quality score is the weighted average rating of its individual exclusions. For our sample of S&P 500 firms, we document that exclusion quality varies by industry, …
How Do Institutional Investors Facilitate Reporting Comparability? Evidence From Common Institutional Ownership In The United States, Xuanbo Li, Yun Lou, Rencheng Wang, Kaitang Zhou
How Do Institutional Investors Facilitate Reporting Comparability? Evidence From Common Institutional Ownership In The United States, Xuanbo Li, Yun Lou, Rencheng Wang, Kaitang Zhou
Research Collection School Of Accountancy
We examine how common institutional investors (CIIs) facilitate the financial reporting comparability (FRC) of US firms. Common ownership increases FRC of firms that are directly owned by CIIs (via a direct effect) and has positive spillover effects on other firms in the same industry. We find spillover effects in two types of firms: (1) those that are commonly owned by different institutional investors but are connected through common firms, and (2) those that do not have any common ownership. These results suggest that the effect of common ownership goes beyond commonly owned firms and extends to non-commonly owned firms. Furthermore, …
The Deterrence Effects Of Tax Whistleblower Laws: Evidence From New York’S False Claims Acts, Yoojin Lee, Shaphan Ng, Terry Shevlin, Aruhn Venkat
The Deterrence Effects Of Tax Whistleblower Laws: Evidence From New York’S False Claims Acts, Yoojin Lee, Shaphan Ng, Terry Shevlin, Aruhn Venkat
Research Collection School Of Accountancy
In this study, we provide evidence on the effects of state tax whistleblower laws. We exploit a novel 2010 amendment to New York’s False Claims Acts (FCA) that explicitly extended whistleblower incentives to corporate income tax whistleblowers. We identify treated firms (firms exposed to New York’s FCA) using establishment-level data and descriptive analyses. Using a sample of firms exposed to New York and neighboring states, we find evidence that New York’s FCA reduced state tax avoidance. In cross-sectional tests, we find that effects are increasing in firms that grant fewer employee stock options and industry regulation, consistent with deterrence increasing …
Monitoring Incentives And Tax Planning: Evidence From State-Owned Enterprises, Eva Eberhartinger, David M. P. Samuel
Monitoring Incentives And Tax Planning: Evidence From State-Owned Enterprises, Eva Eberhartinger, David M. P. Samuel
Research Collection School Of Accountancy
This study provides new evidence on the association of state ownership and tax planning by showing that a state owner’s monitoring incentives affect a firm’s tax planning. Using the setting of a developed market economy, Germany, we distinguish between state owners that directly benefit from state-owned enterprises’ (SOEs’) income tax payments and those that do not. Our results indicate that state ownership is not associated with less tax planning unless the state owner directly benefits from higher tax payments. These results are robust to various specifications and suggest that shareholders’ monitoring incentives are a determinant of a firm’s tax planning …
Undergraduate Accounting Capstone: Enhancing Integration, Reflective Learning, And Workplace Transition For Future Professionals, Duan Ning, Magdeleine Lew, Clarence Goh, Poh Sun Seow, Gary Pan
Undergraduate Accounting Capstone: Enhancing Integration, Reflective Learning, And Workplace Transition For Future Professionals, Duan Ning, Magdeleine Lew, Clarence Goh, Poh Sun Seow, Gary Pan
Research Collection School Of Accountancy
This study examines whether a university capstone course focused on accounting data and analytics equips undergraduate accounting students with the relevant professional and technological skills for future work. There is concern that the traditional accounting curriculum, which often emphasizes theoretical knowledge and technical skills, may not sufficiently prepare students for the complex, data-driven environment in the workplace. Therefore, our study is important because professional and technological skills are essential skills that students need to thrive in complex, data-driven environments, and our study provides insights into whether a capstone course can equip students with these skills. To examine these issues, we …
Institutional Cross-Ownership Of Peer Firms And Revelatory Price Efficiency, Young Jun Cho, Holly I. Yang, Yue Zhao
Institutional Cross-Ownership Of Peer Firms And Revelatory Price Efficiency, Young Jun Cho, Holly I. Yang, Yue Zhao
Research Collection School Of Accountancy
We argue that cross-ownership increases the amount of private information in stock price, enhancing the ability of stock price to provide feedback to managers. Consistent with this argument, we find greater cross-ownership heightens a firm’s investment-q sensitivity. This effect is stronger for firms with a lower propensity for voluntary disclosure and for firms whose managers hold less private information. Furthermore, we find that cross-ownership is negatively associated with the sensitivity of a firm’s investment to its peers’ stock prices. Additionally, cross-ownership has a stronger impact on the investment-q sensitivity when measured among investors who trade more actively the …
Beyond The Disaster Zone: How Disruptive Climate Event Shape Epa Oversight And Firm Behavior, Grace Fan
Beyond The Disaster Zone: How Disruptive Climate Event Shape Epa Oversight And Firm Behavior, Grace Fan
Research Collection School Of Accountancy
We examine how experiences with disruptive climate events impact the Environmental Protection Agency’s (EPA) monitoring activities and subsequent firm behaviors. Using plausibly exogenous variation in the exposure of EPA regional offices to major hurricanes, we find that exposed EPA regulators increase their monitoring efforts, measured by both inspection frequency and length, at facilities located in their jurisdictions but outside the disaster zone. This effect diminishes over time and is stronger for regulators located closer to the disaster area or experiencing the disaster for the first time. Importantly, the heightened regulatory monitoring following disasters has real effects on regulated facilities–they face …
Unexpected Defaults: The Role Of Information Opacity, Aytekin Ertan, Yun Lee, Regina Wittenberg-Moerman
Unexpected Defaults: The Role Of Information Opacity, Aytekin Ertan, Yun Lee, Regina Wittenberg-Moerman
Research Collection School Of Accountancy
Bond defaults are undesirable yet natural outcomes of risky investments. What is also crucial but hitherto underexplored is the unexpectedness of defaults. We develop a parsimonious measure of default unexpectedness and highlight its economic importance by demonstrating that unexpected defaults are associated with unfavorable recovery outcomes and adverse price changes in peer firm bonds. We then examine how default unexpectedness relates to information opacity. We find that firms with opaque financial reporting and weak voluntary disclosure experience more unexpected defaults. Defaults also occur more unexpectedly when the external information environment is opaque—when rating agencies disagree on a firm’s credit risk …
The Spillover Effects Of Environmental Lawsuits On Industry Peers, Xia Chen, Qiang Cheng, Xuefan Peng, Ziliang Zhan
The Spillover Effects Of Environmental Lawsuits On Industry Peers, Xia Chen, Qiang Cheng, Xuefan Peng, Ziliang Zhan
Research Collection School Of Accountancy
We examine the spillover effects of high-profile environmental lawsuits on industry peers. We find that compared with control firms, industry peers experience a decrease in chemical releases and an increase in pollution-related disclosures after the lawsuits. These results are more pronounced for the industry peers who have higher levels of chemical releases in the pre-lawsuit period and who are the peers of firms sued for damage to human health. Lastly, we provide confirmatory evidence that industry peers increase abatement activities after the lawsuits and experience a decline in financial performance, likely due to the increase in abatement costs.
Industry Peer Information And The Equity Valuation Accuracy Of Firms Emerging From Chapter 11, Bingxu Fang, Sasan Saiy, Dushyantkumar Vyas
Industry Peer Information And The Equity Valuation Accuracy Of Firms Emerging From Chapter 11, Bingxu Fang, Sasan Saiy, Dushyantkumar Vyas
Research Collection School Of Accountancy
Valuation plays a central role in determining Chapter 11 reorganization outcomes. However, obtaining accurate valuation estimates of reorganized firms is challenging because of limited firm-specific market-based information and the oft-conflicting incentives of claimholders. We examine the role of industry peer information in reducing misvaluations and its implications for unintended interclaimant wealth transfers and postreorganization performance. First, we find that the availability of relevant industry peer information is negatively associated with equity valuation errors for firms emerging from Chapter 11. Cross-sectional results suggest that the relation between industry peer information and valuation errors varies substantially with debtors’ information environment and case …
From The Accounting Graduate’S And The Employer’S Perspectives: Exploring The Key Roles In Making Skill Acquisition And Transfer Happen, Gary Pan, Poh Sun Seow, Clarence Goh, Duan Ning, Magdeleine Lew
From The Accounting Graduate’S And The Employer’S Perspectives: Exploring The Key Roles In Making Skill Acquisition And Transfer Happen, Gary Pan, Poh Sun Seow, Clarence Goh, Duan Ning, Magdeleine Lew
Research Collection School Of Accountancy
While extant research has discussed how a teacher’s role may have to change when facilitating accounting students’ learning in today’s fast-moving accounting landscape, nevertheless, little is known about the roles played by the accounting graduate and the employer in a similar process. To plug this knowledge gap in the accounting education literature, this study aims to address the following research question: What are the key roles played by the accounting graduate and the employer in the process of skill acquisition and transfer from the university to the workplace? By applying Fitts and Posner’s (1967) three stages of learning and adopting …
Green Innovation And Firms’ Financial And Environmental Performance: The Roles Of Pollution Prevention Versus Control, Qiang Cheng, An-Ping Lin, Mengjie Yang
Green Innovation And Firms’ Financial And Environmental Performance: The Roles Of Pollution Prevention Versus Control, Qiang Cheng, An-Ping Lin, Mengjie Yang
Research Collection School Of Accountancy
This study examines the effects of firms' green innovation on their future financial and environmental performance. If pollution is primarily a manifestation of wasted resources, then investments in pollution prevention technologies can both reduce the environmental impact of production and improve financial performance. In contrast, investments in pollution control technologies likely reduce the environmental impact of production without improving financial performance. Using green patents to capture firms' investments in these two types of technologies, we find that the value of a firm's pollution prevention patents is positively associated with its future financial and environmental performance, and that the positive impact …
Does Social Capital Mitigate Managerial Self-Dealing? Evidence From Insider Trading, Sung Gon Chung, Jimmy Lee, Sang Hyun Park
Does Social Capital Mitigate Managerial Self-Dealing? Evidence From Insider Trading, Sung Gon Chung, Jimmy Lee, Sang Hyun Park
Research Collection School Of Accountancy
In this study, we examine whether the social capital surrounding the firm’s corporate headquarters mitigates managerial self-dealing in the form of opportunistic insider trading. We find strong evidence that the level of social capital in the region surrounding the firm’s headquarters is negatively and significantly associated with insider trading profitability. We also find that the negative association between social capital and insider trading profitability is more pronounced when governance is weaker and corporate opacity is higher, instances where insiders have greater opportunities to trade on their private information. Further analyses on the potential mechanisms suggest that the negative association is …
Bogging Down Investors: An Unintended Consequence Of Litigation Risk, Siwen Fu, Ke Wang, Liandong Zhang, Liu Zheng
Bogging Down Investors: An Unintended Consequence Of Litigation Risk, Siwen Fu, Ke Wang, Liandong Zhang, Liu Zheng
Research Collection School Of Accountancy
Securities litigation risk is a well-recognized yet underexplored source of financial reporting complexity or unreadability. This study examines the effect of litigation risk on the readability of corporate financial reports. The 1999 Silicon Graphics Inc. (SGI) court ruling unexpectedly reduced litigation risk for firms within the Ninth Circuit Court’s jurisdiction. Using a difference-in-differences design centered on the SGI court ruling, we find that, while the readability of financial reports generally declines over the sample period, treated firms in the Ninth Circuit experience a comparatively smaller decline in readability than control firms in other states after the ruling. Put differently, treated …
Breaking The Language Barriers? Machine Translation Technology And Analysts’ Forecasts For Firms With Foreign Operations, Bingxu Fang, Pengkai Lin
Breaking The Language Barriers? Machine Translation Technology And Analysts’ Forecasts For Firms With Foreign Operations, Bingxu Fang, Pengkai Lin
Research Collection School Of Accountancy
We study the impact of machine translation technology on analysts’ forecasts for firms with foreign operations. Exploiting the staggered rollout of Google Translate’s support for translating foreign languages into English, we find that U.S. analysts improve their forecast accuracy for firms with substantial business exposure to the corresponding foreign countries. We obtain similar evidence using an international sample of analysts covering firms outside their home countries. The improvement in forecast accuracy is greater for analysts with limited language skills or brokerage resources to process foreign information. Further analysis suggests that analysts raise more questions about firms’ foreign exposure during conference …
Corporate Disclosures For Green Supply Chains: Evidence From Scope 3 Emissions Disclosure, Young Jun Cho, Jungbae Kim, Holly I. Yang, Mengjie Yang
Corporate Disclosures For Green Supply Chains: Evidence From Scope 3 Emissions Disclosure, Young Jun Cho, Jungbae Kim, Holly I. Yang, Mengjie Yang
Research Collection School Of Accountancy
A firm's decision to initiate Scope 3 emissions disclosure not only reflects their sustainability efforts but also signals their commitment to decarbonizing its value chain, fostering collaboration among suppliers in promoting greener supply chains. Using a generalized difference-in-differences research design, we find that suppliers reduced greenhouse gas emissions following their customers’ initiation of Scope 3 emissions disclosures. This reduction in emissions is more pronounced when the supplier poses greater climate risk and when the customer has a greater need to restore public trust for its climate-related behavior. We also find that this effect varies with the strength of the customer-supplier …
Audit Firms' Entry Into H-Share Audit Market And Mainland Audit Pricing: Evidence From China, Rui Zhang, Gaoliang Tian, Zichen Tian, Liuchuang Li
Audit Firms' Entry Into H-Share Audit Market And Mainland Audit Pricing: Evidence From China, Rui Zhang, Gaoliang Tian, Zichen Tian, Liuchuang Li
Research Collection School Of Accountancy
Purpose: This study aims to investigate whether mainland Chinese audit firms’ entry into the H-share market to provide audit services affects their mainland audit pricing. Design/methodology/approach: Using data on A-share listed companies in China from 2008 to 2018, a difference-in-differences model to test the research question is designed. Robustness tests are conducted to rule out alternative explanations and additional tests to shed light on the extent and inner workings of the main effect. Findings: The entry of mainland audit firms into the H-share audit market leads to a significant decrease in mainland audit pricing. Moreover, this main effect is (i) …
Do Commercial Ties Influence Esg Ratings? Evidence From Moody's And S&P, Xuanbo Li, Yun Lou, Liandong Zhang
Do Commercial Ties Influence Esg Ratings? Evidence From Moody's And S&P, Xuanbo Li, Yun Lou, Liandong Zhang
Research Collection School Of Accountancy
We provide the first evidence that conflicts of interest arising from commercial ties lead to bias in environmental, social, and governance (ESG) ratings. Using the acquisitions of Vigeo Eiris and RobecoSAM by Moody's and S&P as shocks to the commercial ties between ESG rating agencies and their rated firms, we show that, after their acquisitions by the credit rating agencies (CRAs), ESG rating agencies issue higher ratings to existing paying clients of the CRAs. This effect is greater for firms that have more intensive business relationships with the CRAs, but weaker for firms with more transparent ESG disclosures or higher …
Politicians’ Green Incentives And External Auditing, Ole-Kristian Hope, Heng Yue, Qinlin Zhong
Politicians’ Green Incentives And External Auditing, Ole-Kristian Hope, Heng Yue, Qinlin Zhong
Research Collection School Of Accountancy
This paper examines whether and how politicians’ green incentives affect external auditing. Specifically, we investigate the effects of China’s Green Audit of Outgoing Officials (GAOO) policy, which directly links environmental performance to public officials’ promotions. Employing a DID approach, we observe a significant reduction in audit fees for high-polluting firms after the implementation of GAOO. The decrease is stronger among firms located in regions with departing public officials. We identify two channels driving this trend: (1) Auditors rely on public information generated from intensified governmental efforts, thereby economizing on their efforts (i.e., a substitution effect); (2) High-polluting firms improve their …
Making Accounting Education Fit For Purpose For The New Economy, Yew Kee Ho, Jean Liu, Sze Kee Koh, Kai Teck Ng, Sa-Pyung Sean Shin, Tin Wee Tan, Yuanto Zhu Kusnadi
Making Accounting Education Fit For Purpose For The New Economy, Yew Kee Ho, Jean Liu, Sze Kee Koh, Kai Teck Ng, Sa-Pyung Sean Shin, Tin Wee Tan, Yuanto Zhu Kusnadi
Research Collection School Of Accountancy
The accountancy profession faces one of its most challenging periods as several factors converge to disrupt it. Technological advancements, the expanding role of accountants, declining student interest in accountancy, and increasing expectations for uniquely human capital all exert pressure on the profession to reinvent itself or face marginalisation. This study, funded by the Institute of Singapore Chartered Accountants (ISCA), examines trends in the accountancy profession alongside accountancy education in Singapore. Its goal is to formulate a fit-for-purpose accountancy education for the new economy.
Politically Connected Firms And The Cash Flow Sensitivity Of Cash: International Evidence, Yuanto Kusnadi
Politically Connected Firms And The Cash Flow Sensitivity Of Cash: International Evidence, Yuanto Kusnadi
Research Collection School Of Accountancy
This paper examines the role of political connections on the cash flow sensitivity of cash using a sample of international firms. The finding reveals that the cash flow sensitivity of cash is lower for politically connected firms than their non-connected counterparts, which is supportive of the precautionary motive of cash holdings. Further analyses reveal that the result is driven by political connections that are made through the directors of the firms and with members of parliament, as well as by differences in country-level institutional infrastructure. Overall, the empirical results corroborate that of previous studies on the relevance of the precautionary …
Discretionary Dissemination On Twitter, Richard M. Crowley, Wenli Huang, Hai Lu
Discretionary Dissemination On Twitter, Richard M. Crowley, Wenli Huang, Hai Lu
Research Collection School Of Accountancy
The study provides large-scale descriptive evidence on the timing and nature of corporate financial tweeting. Using an unsupervised machine learning approach to analyze 24 million tweets posted by S&P 1500 firms from 2012 to 2020, we find that firms are more likely to tweet financial information around significantly negative or positive news events, such as earnings announcements and the filing of financial statements. This convex U-shaped relation between the likelihood of posting financial tweets and the materiality of accounting events becomes stronger over time. Whereas research based on early samples concludes that firms are less likely to disseminate financial information …
Public Enforcement Through Independent Directors, Xiaoxi Li, Pingui Rao, Yong George Yang, Heng Yue
Public Enforcement Through Independent Directors, Xiaoxi Li, Pingui Rao, Yong George Yang, Heng Yue
Research Collection School Of Accountancy
We examine how public enforcement and private enforcement interact to contain self-dealing activities in emerging markets. Using data from China, we find that firms receiving comment letters concerning related party transactions (RPTs) from stock exchanges significantly reduce their RPTs in subsequent years. We further find that (1) the subsequent reduction in RPTs is more pronounced when independent directors have higher career or reputation concerns and (2) independent directors are more likely to dissent or resign if their firms do not significantly reduce RPTs after receiving RPT comment letters, especially if they have high reputation concerns. Our study sheds light on …
Big Data Analytics And Management Forecasting Behavior, Beng Wee Goh, Na Li, Tharindra Ranasinghe
Big Data Analytics And Management Forecasting Behavior, Beng Wee Goh, Na Li, Tharindra Ranasinghe
Research Collection School Of Accountancy
This paper investigates whether the use of Big Data analytics by firms has a spillover effect on management forecasting behavior. Insights provided by Big Data could potentially improve firms’ ability to forecast earnings (supply channel) and investor demand for earnings information is likely higher for firms engaging in data analytics (demand channel). Using a text-based measure of firms’ commitments to and usage of Big Data analytics, we find that Big Data analytics usage is positively associated with the propensity to issue management earnings forecasts. Consistent with the “supply channel” explanation, we find that Big Data analytics usage is positively associated …