Contemporary Accounting Research最新文献_第5页

The role of target difficulty and career tournaments in retaining creative R&D employees 目标难度和职业前景对留住创意研发员工的作用

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-15 DOI: 10.1111/1911-3846.12931

Isabella Grabner, Mischa Seiter, Markus Wabnegg, Henning Wirth

{"title":"The role of target difficulty and career tournaments in retaining creative R&D employees","authors":"Isabella Grabner, Mischa Seiter, Markus Wabnegg, Henning Wirth","doi":"10.1111/1911-3846.12931","DOIUrl":"10.1111/1911-3846.12931","url":null,"abstract":"We explore the turnover intentions of creative R&D employees and the role of performance management practices in shaping these considerations. Since the success of a firm's R&D efforts hinges on the innovative ideas of its employees, it is crucial to retain particularly creative individuals. At the same time, however, we argue that this is especially difficult because both the higher outside options of creative employees and their specific individual characteristics make them, on average, more likely to leave their company. Most importantly, we suggest that two widely studied performance management design choices (target difficulty and career tournaments) typically used to motivate effort may influence the loss of creative talent. Using survey data from our unique access to R&D employees of a large manufacturing firm and a complementary experiment among business students, we find evidence that creative employees are, on average, more likely to leave their firm. Consistent with creative employees possessing a stronger learning orientation, we also predict and find that this tendency to leave is mitigated by target difficulty (as difficult targets speak to creative individuals' learning orientation) and exacerbated by the intensity of career tournaments (as they reduce team cohesion and, ultimately, undermine learning opportunities).","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12931","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139496805","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

Navigating through the noise: The effect of color-coded performance feedback on decision-making 在噪音中导航：彩色编码的绩效反馈对决策的影响

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-15 DOI: 10.1111/1911-3846.12932

Eddy Cardinaels, Stephan Kramer, Victor S. Maas

引用次数: 0

Following the crowd? Peer influence on voluntary bank audits 从众？同行对银行自愿审计的影响

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-13 DOI: 10.1111/1911-3846.12930

Matthew J. Beck, Nathan G. Lundstrom, Sarah B. Stuber

引用次数: 0

Are firms as liquid as they appear in annual reports? 公司的流动性是否与年度报告中显示的一样？

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-11 DOI: 10.1111/1911-3846.12929

Abdul-Rahman Khokhar, Jiaping Qiu, Mohammad M. Rahaman

引用次数: 0

Reporting bias and feedback effect 报告偏差和反馈效应†

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-05 DOI: 10.1111/1911-3846.12926

Hui Chen, Evgeny Petrov

{"title":"Reporting bias and feedback effect","authors":"Hui Chen, Evgeny Petrov","doi":"10.1111/1911-3846.12926","DOIUrl":"10.1111/1911-3846.12926","url":null,"abstract":"Stock prices often provide firm managers with new information that can be used in real decisions. Studies generally focus on the ex ante disclosure policy and show that the presence of market feedback crowds out firms' disclosure. We instead examine a manager's ex post biasing incentives and find that market feedback amplifies overreporting bias, but not necessarily underreporting bias, due to three interacting effects. First, the manager biases the report more with feedback since decreased information quality crowds in the speculator's private information acquisition and improves investment efficiency, regardless of the reporting scenario (the information rationing effect). Second, the manager biases more in the overreporting scenario and less in the underreporting scenario, because reporting more favorable information crowds in private information acquisition, as the speculator expects a higher subsequent investment and therefore higher trading profits (the investment scale effect). Third, market feedback influences reporting bias not only through the speculator's information acquisition but also directly through the market maker's pricing function. Specifically, the market maker decreases the price discount, as he expects that the manager may learn correct information from the price and may invest more efficiently. Expecting a lower price penalty in the presence of feedback, the manager biases more in the overreporting scenario and less in the underreporting scenario (the investment correction effect). Overall, our results suggest that granting firms reporting discretion could improve investment efficiency and firm value when managers can learn through price.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2024-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139373256","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

Foreign labor and audit quality: Evidence from newly hired H-1B visa holders 外籍劳工与审计质量：来自新聘用的 H-1B 签证持有者的证据

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-05 DOI: 10.1111/1911-3846.12927

Tracie Frost, Jiao Jing, Longfei Shang, Lixin (Nancy) Su

引用次数: 0

The mountains are high and the emperor is far away: Credit scoring and the infrastructure of surveillance capitalism in China 山高皇帝远：中国的信用评分和监控资本主义的基础设施

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-19 DOI: 10.1111/1911-3846.12925

Ruowen Xu, Yuval Millo, Crawford Spence

{"title":"The mountains are high and the emperor is far away: Credit scoring and the infrastructure of surveillance capitalism in China","authors":"Ruowen Xu, Yuval Millo, Crawford Spence","doi":"10.1111/1911-3846.12925","DOIUrl":"10.1111/1911-3846.12925","url":null,"abstract":"Previous research on calculative intermediaries shows how these effectively challenge, distort, and disrupt accounting practices in ways that policy-makers might not anticipate. The promises of surveillance capitalism—with its attendant data architectures, datafication processes, and technological sophistication—are different, supposing more accurate ways of reading individuals and greater calculative certainty overall. Yet there is little empirical research to explore how surveillance capitalism manifests itself at the organizational level, either conceptually or operationally. As a result, it remains uncertain whether such specters of omniscience are as haunting in reality as they appear in theory. We explore these themes by way of an ethnographic study into credit scoring in China, showing how intermediary organizations developed a multiplicity of credit scoring models based on machine learning and big data that differed both from original expectations and from each other. These different “renditions” of credit scoring suggest that the data architectures of surveillance capitalism are just as much subject to challenge and adaptation by intermediary organizations as calculative practices, such as accounting, are in more analog environments.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12925","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139172499","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

Auditor changes and management's issuance of earnings forecasts 审计师变更和管理层发布盈利预测

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-07 DOI: 10.1111/1911-3846.12922

Yonghong Jia, Xinghua Gao

{"title":"Auditor changes and management's issuance of earnings forecasts","authors":"Yonghong Jia, Xinghua Gao","doi":"10.1111/1911-3846.12922","DOIUrl":"10.1111/1911-3846.12922","url":null,"abstract":"Auditor changes are significant corporate events marking disruptions in the auditor-client relationship. Prior studies have primarily examined the impact of such changes on audit quality and investment decisions of market participants. We study the effect of auditor changes on the voluntary disclosure of forward-looking information. Managers may choose to reduce disclosure due to the possible adverse effect of the disruptions on disclosure credibility. Alternatively, shareholders may demand increased disclosure to intensify monitoring, as the auditor change signals potential issues between the company and the auditor. Employing multiple identification strategies, we find that firms are less likely to issue management earnings forecasts (MEFs) following auditor changes. We also find that governance quality mitigates the negative impact of auditor changes on the issuance of MEFs. Additionally, auditor changes are associated with lower market reactions to forecast releases. The overall evidence is consistent with the notion of reduced forecast credibility. Lastly, we conduct cross-sectional analyses on characteristics of the auditor changes and find evidence consistent with signaling and anticipated successor audit quality to be underlying mechanisms for the association between auditor changes and MEFs. Our study provides the first large sample evidence that auditor changes have a disruptive effect on the voluntary disclosure of forward-looking information.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12922","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138545308","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

Information content of credit rating affirmations 信用评级申明的信息内容

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-07 DOI: 10.1111/1911-3846.12921

Boochun Jung, Asad Kausar, Byungki Kim, You-il Park, Chris, Jian Zhou

{"title":"Information content of credit rating affirmations","authors":"Boochun Jung, Asad Kausar, Byungki Kim, You-il Park, Chris, Jian Zhou","doi":"10.1111/1911-3846.12921","DOIUrl":"10.1111/1911-3846.12921","url":null,"abstract":"We examine the economic determinants and informational effects of credit rating affirmations (i.e., the reiteration of past credit ratings) for a sample of US public firms from 1995 to 2020. We find that credit rating affirmations typically follow major corporate events and changes in firm fundamentals that increase information uncertainty about a firm's creditworthiness, suggesting that affirmations reduce uncertainty. We further document that rating affirmations provide value-relevant information to equity and debt investors. Using a short-window event study method, we show that equity investors react positively to rating affirmations and that information uncertainty around affirmations diminishes. These findings are more pronounced for firms with non-investment-grade ratings. We further show that our results strengthen for firms with greater pre-affirmation information uncertainty. Finally, consistent with our information uncertainty reduction results from the stock market, we report that bond yield spreads decrease for affirmed firms. Again, the effect is more pronounced for firms with non-investment-grade ratings. In summary, we highlight the significant capital markets' effects of credit rating affirmations, an area that the literature has largely ignored.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138545269","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

On the informativeness of unexpected exclusions from street earnings 论街头收益意外排除的信息量

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-07 DOI: 10.1111/1911-3846.12924

Brian Bratten, Stephannie Larocque, Teri Yohn

{"title":"On the informativeness of unexpected exclusions from street earnings","authors":"Brian Bratten, Stephannie Larocque, Teri Yohn","doi":"10.1111/1911-3846.12924","DOIUrl":"10.1111/1911-3846.12924","url":null,"abstract":"Exclusions from street earnings can include both expected exclusions, forecasted ex ante by analysts, and unexpected exclusions, revealed after earnings are reported. While prior research largely examines total exclusions from street earnings, unexpected exclusions reflect the news or surprise in exclusions. We investigate the properties and informativeness of unexpected exclusions for future profitability, benchmark beating, analyst forecast errors, and future stock returns. We find that unexpected exclusions represent a mix of transitory and recurring items and are informative about future street earnings. In an analysis of hand-collected analysts' reports, we find that unexpected exclusions are more likely to reflect misestimated recurring items when analysts forecasted exclusions, and unexpected transitory items when analysts did not forecast exclusions. We also examine benchmark-beating behavior, in which street earnings meet street forecasts but GAAP earnings miss GAAP forecasts. We observe that benchmark beating is more likely to occur when analysts forecast exclusions than when they do not. Moreover, we find unexpected exclusions are more persistent when street earnings meet street forecasts but GAAP earnings miss GAAP forecasts. These findings are consistent with recurring earnings amounts being opportunistically shifted to excluded items to meet analysts' street forecasts. Finally, we find some evidence that analysts and investors react to, but do not fully incorporate, the information in unexpected exclusions, based on forecast revisions and stock price reactions.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138563444","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