Contemporary Accounting Research最新文献

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The effects of overwithholding and retroactive savings options on retirement savings: An experimental analysis 超额预扣和追溯储蓄对退休储蓄的影响:一个实验分析
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-06-13 DOI: 10.1111/1911-3846.13053
Kay Blaufus, Michael Milde, Marcel Schaefer
{"title":"The effects of overwithholding and retroactive savings options on retirement savings: An experimental analysis","authors":"Kay Blaufus,&nbsp;Michael Milde,&nbsp;Marcel Schaefer","doi":"10.1111/1911-3846.13053","DOIUrl":"https://doi.org/10.1111/1911-3846.13053","url":null,"abstract":"<p>In three experiments, we examine how the widespread phenomenon of overwithholding affects retirement savings and how the additional option at tax time of saving retroactively for retirement affects total savings levels. Our results show that overwithholding significantly reduces retirement savings. We show that this outcome can be explained by individuals' anchoring on their take-home pay when making savings decisions and by individuals' reduced motivation to save in the presence of overwithholding. Moreover, we find that the introduction of an additional retroactive savings option at tax time increases overall savings by providing information about the correct after-tax income and by emphasizing the importance of a savings norm that nudges individuals to save. Furthermore, our findings demonstrate that immediate taxation (back-loaded retirement plans) results in greater effective savings than deferred taxation (front-loaded retirement plans), irrespective of whether there is overwithholding or the existence of an additional option to save. Policy-makers may therefore consider both the introduction of an additional savings option at tax time and immediate taxation as policy tools to encourage retirement saving.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1899-1928"},"PeriodicalIF":3.8,"publicationDate":"2025-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.13053","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145012848","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Do brokers manage the distribution of stock recommendations? 经纪人管理股票推荐的分发吗?
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-06-12 DOI: 10.1111/1911-3846.13058
Wen He, Jin Zhang
{"title":"Do brokers manage the distribution of stock recommendations?","authors":"Wen He,&nbsp;Jin Zhang","doi":"10.1111/1911-3846.13058","DOIUrl":"https://doi.org/10.1111/1911-3846.13058","url":null,"abstract":"<p>This study examines whether and how brokers manage the distribution of their stock recommendations. We document that if a broker's percentage of buy recommendations in a quarter is substantially higher than its target level, the broker issues significantly fewer buy recommendations than other brokers in the following quarter. This evidence remains robust after controlling for mean reversion in the data and varies systematically with brokers' expected benefits and costs of managing the distribution. Exploring possible methods to manage the distribution, we find evidence suggesting that brokers alter the timing of recommendation initiations and reiterations, and shift recommendations between adjacent quarters. Finally, we show that distribution management affects the informativeness of stock recommendations in the market.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1870-1898"},"PeriodicalIF":3.8,"publicationDate":"2025-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.13058","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145013016","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Closing the books or keeping them open? Identity work in partner retirement from Big 4 accounting firms 是把书合上还是一直开着?四大会计师事务所合伙人退休后的身份识别工作
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-05-28 DOI: 10.1111/1911-3846.13044
Ricardo Azambuja, Lisa Baudot, Takahiro Endo, Saori Matsubara
{"title":"Closing the books or keeping them open? Identity work in partner retirement from Big 4 accounting firms","authors":"Ricardo Azambuja,&nbsp;Lisa Baudot,&nbsp;Takahiro Endo,&nbsp;Saori Matsubara","doi":"10.1111/1911-3846.13044","DOIUrl":"https://doi.org/10.1111/1911-3846.13044","url":null,"abstract":"<p>One view of the socialization experienced by professionals in global Big 4 firms suggests that the intensity of socialization engenders a strong and deep-rooted professional identity. We scrutinize this claim by drawing on interviews with partners who retired from lifelong employment in Big 4 firms in Japan. Through partners' reflections on their experiences in detaching from the firm, we examine how socialization manifests in partners' identity work. We find that partners' identity, which often appears entrenched, invariable, and heroic, can be highly fragile and vulnerable to changing circumstances. Before leaving the firm, interviewees attempt to reconcile their Big 4 “graduation” with feelings of obsolescence and a growing distance from previous accomplishments. After leaving the firm, interviewees revisit the identity built throughout their careers. Unable to move on to a selfhood detached from that identity, they refashion their identity relative to their former Big 4 partner self, backgrounding their private life and post-firm professional affiliations. Not knowing how to “close the books,” retired partners seek comfort in the old “plot” and in the old “characters,” finding ways to “keep the books open” even after the “setting” has changed. Our results reconfirm the powerful socialization experienced by partners during their tenure with the Big 4 but run counter to scholarship that characterizes the identity of Big 4 partners as strong and fixed. Rather, we demonstrate the insecurity underlying our professional service heroes' identity work and the contingent identity work processes that partners engage in while navigating departure from the Big 4.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1839-1869"},"PeriodicalIF":3.8,"publicationDate":"2025-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.13044","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145013323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Relative performance information, advice-seeking, and trust in the manager 相关绩效信息,咨询意见,以及对经理的信任
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-05-26 DOI: 10.1111/1911-3846.13052
Ta-Tung (Stephanie) Cheng
{"title":"Relative performance information, advice-seeking, and trust in the manager","authors":"Ta-Tung (Stephanie) Cheng","doi":"10.1111/1911-3846.13052","DOIUrl":"https://doi.org/10.1111/1911-3846.13052","url":null,"abstract":"<p>In this paper, I conduct three experiments to investigate whether and how relative performance information (RPI) influences employee advice-seeking and how advice-seeking, in turn, affects employees' trust in their manager. The first experiment shows that, in a setting where the manager can provide useful advice, RPI increases advice-seeking frequency, which is marginally positively associated with trust in the manager. The second experiment indicates that RPI increases advice-seeking frequency when the manager's advice is highly useful, with a marginally significant effect when the advice is of low usefulness. Mediation analyses reveal that RPI alleviates employees' concerns about self-presentation toward their manager, thereby increasing advice-seeking frequency, but only when the manager's advice is of high usefulness. The third experiment shows that advice usefulness impacts employees' trust in their manager by influencing their perceptions of managerial competence and benevolence. This paper discusses theoretical and practical implications of these findings.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1809-1838"},"PeriodicalIF":3.8,"publicationDate":"2025-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145013301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Managerial sentiment and short-term operating decisions: Evidence from terrorist attacks 管理情绪和短期经营决策:来自恐怖袭击的证据
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-05-26 DOI: 10.1111/1911-3846.13047
Xia Chen, Yanmin Gao, Rong Huang, Yangxin Yu
{"title":"Managerial sentiment and short-term operating decisions: Evidence from terrorist attacks","authors":"Xia Chen,&nbsp;Yanmin Gao,&nbsp;Rong Huang,&nbsp;Yangxin Yu","doi":"10.1111/1911-3846.13047","DOIUrl":"https://doi.org/10.1111/1911-3846.13047","url":null,"abstract":"<p>Using terrorist attacks and mass shootings as an exogenous source driving psychological changes in managerial sentiment, we explore the causal effect of managerial sentiment on firms' short-term operating decisions. Employing cost stickiness to measure short-term operating decisions on resource allocation and cost control, we find that firms located in the attacked metropolitan areas experience a significant decline in the degree of cost stickiness. We further find that the effect is more pronounced for firms that have inexperienced and less confident CEOs, when attack events are more salient, and when managers have lower prior exposure to negative events in their personal experiences. We also explore inventory management as another form of short-term operating decisions and find that firms exhibit reduced asymmetric inventory management and a lower level of abnormal inventory holdings in postattack periods. Overall, our study suggests that shocks caused by exogenous negative events affect managerial sentiment, which in turn shapes managers' short-term operating decisions.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1776-1808"},"PeriodicalIF":3.8,"publicationDate":"2025-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145013300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Tax audits and the policing of corporate taxes: Insights from tax executives 税务审计和公司税监管:来自税务主管的见解
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-05-20 DOI: 10.1111/1911-3846.13051
Jeri K. Seidman, Roshan K. Sinha, Bridget Stomberg
{"title":"Tax audits and the policing of corporate taxes: Insights from tax executives","authors":"Jeri K. Seidman,&nbsp;Roshan K. Sinha,&nbsp;Bridget Stomberg","doi":"10.1111/1911-3846.13051","DOIUrl":"https://doi.org/10.1111/1911-3846.13051","url":null,"abstract":"<p>We interview public company tax executives to provide new evidence on how corporate taxpayers experience and navigate the income tax audit process. Interviewees describe being “targeted” by “tax police” and having to “defend” their positions. Thus, we adopt a structural metaphor of tax audits as police investigations and use a framework from the policing literature to explain what influences taxpayers' perceptions of fairness during audits. Perceptions of fairness are important as targets of investigations are more likely to cooperate and accept outcomes when they perceive policing processes as fair. Tax executives aim to obtain fair and consistent treatment by compiling documentation, consulting with peers and external advisors, and educating tax agents. Audits are adversarial, however, and taxpayers also act strategically to secure favorable outcomes and appeal or litigate when they believe outcomes are unfair. Interviewees note variation in the extent to which tax authorities create frameworks that facilitate fair audit processes and whether tax agents implement these frameworks. Our study offers new insights into the tax audit process from corporate taxpayers' perspectives. First, public company taxpayers view tax audits as redundant to financial statement audits of their tax positions. Thus, tax audits may have limited scope to deter tax noncompliance. Second, tax executives are not passive actors; they take deliberate actions to shape audit outcomes. Third, audits are less efficient for everyone when taxpayers perceive them as procedurally unfair. Investments by tax authorities that increase perceptions of fairness may enhance audit efficiency by increasing taxpayers' cooperation and acceptance of outcomes.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1744-1775"},"PeriodicalIF":3.8,"publicationDate":"2025-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.13051","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145013075","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Do local newspapers matter to institutional investors? 地方报纸对机构投资者重要吗?
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-05-19 DOI: 10.1111/1911-3846.13049
Byoung Uk Kang, Jonathan Sangwook Nam
{"title":"Do local newspapers matter to institutional investors?","authors":"Byoung Uk Kang,&nbsp;Jonathan Sangwook Nam","doi":"10.1111/1911-3846.13049","DOIUrl":"https://doi.org/10.1111/1911-3846.13049","url":null,"abstract":"<p>This study examines the informational role of local newspapers in institutional investments. Exploring local newspaper closures across US counties, we document that institutional investors significantly reduce their holdings in firms located near the closed newspapers. The post-closure decrease in institutional holdings is concentrated for non-local or non–hedge fund institutions. In contrast, institutions that are likely to possess information advantages—local institutions or hedge funds—do not decrease their holdings and may even increase them when faced with a lack of local news coverage. Further analysis reveals that local newspaper closures adversely impact institutional investors' ability to predict firms' stock returns, particularly for non-local or non–hedge fund institutions. Collectively, we provide novel evidence suggesting that local newspapers are a key channel through which institutional investors acquire geographically scattered information.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1713-1743"},"PeriodicalIF":3.8,"publicationDate":"2025-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145013157","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effects of relative performance information on subsequent cooperation 相对绩效信息对后续合作的影响
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-05-07 DOI: 10.1111/1911-3846.13045
Xinyu Zhang
{"title":"The effects of relative performance information on subsequent cooperation","authors":"Xinyu Zhang","doi":"10.1111/1911-3846.13045","DOIUrl":"https://doi.org/10.1111/1911-3846.13045","url":null,"abstract":"<p>Using two experiments, I examine the effects of relative performance information (RPI) on social bonding and subsequent cooperation. In Experiment 1, participants in groups of four first complete a more or less difficult individual math task and then participate in a public goods game. I find that RPI significantly increases contributions in the public goods game when group members exhibit similar performance levels in the individual task <i>and</i> when the task is more difficult. Conceptually, RPI in such a setting fosters social bonds by revealing a common challenge shared by group members. In scenario-based Experiment 2, with performance level held constant, RPI strengthens social bonds when peers similarly miss a difficult target but not when they similarly surpass an easy target. Additionally, the inclusion of ranking information in RPI negatively impacts social bonding, regardless of target difficulty. While prior research predominantly examines RPI through the lens of social comparison, this study illustrates the conditions under which RPI can also foster social bonds and enhance subsequent cooperation.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1684-1712"},"PeriodicalIF":3.8,"publicationDate":"2025-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145012490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Related parties, financial reporting quality, and donations 关联方、财务报告质量和捐赠
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-04-29 DOI: 10.1111/1911-3846.13048
Steven Balsam, Erica E. Harris, Paul Wong
{"title":"Related parties, financial reporting quality, and donations","authors":"Steven Balsam,&nbsp;Erica E. Harris,&nbsp;Paul Wong","doi":"10.1111/1911-3846.13048","DOIUrl":"https://doi.org/10.1111/1911-3846.13048","url":null,"abstract":"<p>In 2008, the IRS added several schedules to Form 990, including Schedule R, related party transactions. Utilizing Schedule R, we investigate and descriptively document the existence of related parties and the types of transactions engaged in with those related parties. Then, to provide evidence of the usefulness of these disclosures, we tie into the literature on financial reporting quality. Prior research into financial reporting quality shows that donors discount program ratios when a nonprofit organization reports zero fundraising expenses, implying that they find reporting zero fundraising expenses to be a proxy for poor financial reporting quality. A plausible reason for organizations reporting zero fundraising expenses is that a related party conducts fundraising on the organization's behalf. Consistent with this interpretation, we find that when nonprofits disclose that fundraising services are provided by a related entity, they are more likely to report zero fundraising expenses. We also find that disclosure of related party fundraising mitigates donor discounting of the program ratio when zero fundraising expenses are reported. However, we only find that this mitigation occurs in nonprofits with sophisticated donors. In sum, we find evidence consistent with donors—in particular, sophisticated donors—using disclosures provided in Form 990 to supplement the amounts recognized. Our findings demonstrate the importance of, and are consistent with the use of, these related party disclosures. On a broader level, these findings provide insight into how thoroughly donors are willing to review Form 990 to get information relevant to their donation decision.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1652-1683"},"PeriodicalIF":3.8,"publicationDate":"2025-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145013325","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Local newspaper closures and bank loan contracts 地方报纸倒闭,银行贷款合同
IF 3.8 3区 管理学
Contemporary Accounting Research Pub Date : 2025-04-28 DOI: 10.1111/1911-3846.13046
Zhiming Ma, Derrald Stice, Han Stice, Yue Zhang
{"title":"Local newspaper closures and bank loan contracts","authors":"Zhiming Ma,&nbsp;Derrald Stice,&nbsp;Han Stice,&nbsp;Yue Zhang","doi":"10.1111/1911-3846.13046","DOIUrl":"https://doi.org/10.1111/1911-3846.13046","url":null,"abstract":"<p>We examine changes in bank loan contracts after borrowers experience a nearby local newspaper closure. Compared to a sample of control firms, we find that the closure of a local newspaper leads to higher interest spreads for borrowers. This effect is more pronounced when there are fewer related lenders in the syndicate, when lenders have less prior lending experience in the local area, when the closed local newspapers are associated with increases in misconduct cases, and for institutional lenders who rely more heavily on others for monitoring. In addition, we observe that loan contract amendments become less frequent, while covenant strictness increases following newspaper closures. Our main findings are robust to various research design specifications and are not driven by deteriorating local economic conditions. Our findings suggest that local media still plays a significant role in the debt markets, even as society moves deeper into the internet era.</p>","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 3","pages":"1620-1651"},"PeriodicalIF":3.8,"publicationDate":"2025-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.13046","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145013120","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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