Journal of Accounting Research最新文献_第4页

Context-Based Interpretation of Financial Information 基于上下文的财务信息解释

IF 4.4 2区管理学

Journal of Accounting Research Pub Date : 2024-12-18 DOI: 10.1111/1475-679x.12593

ALEX G. KIM, VALERI V. NIKOLAEV

引用次数: 0

Does Access to Patent Information Help Technological Acquisitions? Evidence from Patent Library Openings 专利信息的获取是否有助于技术收购？来自专利图书馆开放的证据

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-12-13 DOI: 10.1111/1475-679X.12592

CONNIE X. MAO, YUERU QIN, XUAN TIAN, CHI ZHANG

引用次数: 0

Tax Subsidy Disclosure and Local Economic Effects 税收补贴披露与地方经济效应

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-12-11 DOI: 10.1111/1475-679X.12591

LISA DE SIMONE, REBECCA LESTER, ANEESH RAGHUNANDAN

{"title":"Tax Subsidy Disclosure and Local Economic Effects","authors":"LISA DE SIMONE, REBECCA LESTER, ANEESH RAGHUNANDAN","doi":"10.1111/1475-679X.12591","DOIUrl":"10.1111/1475-679X.12591","url":null,"abstract":"<div>\u0000 \u0000 <p>We examine if the effectiveness of business tax subsidies varies based on state disclosure laws. The prior accounting literature on government disclosure documents substantial variation in the quality of such disclosures, raising questions about their effectiveness for monitoring. State and local business subsidies for investment and employment have tripled in size over the past 30 years, but transparency problems inhibit clear assessments of whether subsidies achieve their intended outcomes. We examine both internal disclosure laws, which mandate subsidy reporting by the granting state agency to other state oversight agencies, and external disclosure laws, which mandate reporting to the public. We find positive effects of subsidies on local employment when subsidies are subject to internal disclosure laws; by implementing such regimes, governments could forego 1.2–1.7 subsequent subsidies per county, saving $419.0–$593.5 million in aggregate. In contrast, we observe little effect of external disclosure, which we show is due to governments either substituting to other types of incentives or posting stale information that impedes public monitoring. We contribute to the government disclosure literature by demonstrating the real employment effects of internal government disclosures, and we provide policy-relevant evidence about the conditions under which external disclosure regimes facilitate public monitoring.</p></div>","PeriodicalId":48414,"journal":{"name":"Journal of Accounting Research","volume":"63 2","pages":"547-598"},"PeriodicalIF":4.9,"publicationDate":"2024-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142804668","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Spillover Effects of the SEC's Regulatory Oversight on Private Debt Contracting: Evidence from Cross-listed Foreign Firms 美国证券交易委员会的监管对私人债务契约的溢出效应：来自交叉上市外国公司的证据

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-11-11 DOI: 10.1111/1475-679X.12585

Mahfuz Chy, Inder K. Khurana, Hoyoun Kyung

{"title":"Spillover Effects of the SEC's Regulatory Oversight on Private Debt Contracting: Evidence from Cross-listed Foreign Firms","authors":"Mahfuz Chy, Inder K. Khurana, Hoyoun Kyung","doi":"10.1111/1475-679X.12585","DOIUrl":"10.1111/1475-679X.12585","url":null,"abstract":"<div>\u0000 \u0000 <p>We examine the effect of the Securities and Exchange Commission's (SEC) regulatory oversight on private debt contracting outcomes, using the signing of the multilateral memorandum of understanding (MMoU) as a natural experiment. The MMoU enables the SEC to take stricter punitive actions against wealth expropriation by cross-listed firms’ insiders and enforce better compliance with applicable rules and regulations. We find that enhanced SEC oversight in the post-MMoU regime lowers loan spreads by 36 basis points, thus saving an average cross-listed firm approximately $9 million in direct loan costs over the life of a bank loan. Cross-sectional analyses show that the effect is more pronounced for borrowers from countries with weaker institutions, borrowers with greater accounting discretion, and for loans arranged by top lenders or loans not secured by collateral. Conversely, the effect is less pronounced for borrowers who use IFRS or when the SEC faces greater budgetary constraints. Enhanced SEC oversight also leads to an increase in loan maturity and a decrease in financial covenants. Our evidence suggests that while the SEC's primary mandate is to protect public equity and bond investors, its supervision yields substantial borrowing cost savings and more lenient nonprice loan terms in the private debt markets as well.</p>\u0000 </div>","PeriodicalId":48414,"journal":{"name":"Journal of Accounting Research","volume":"63 2","pages":"769-806"},"PeriodicalIF":4.9,"publicationDate":"2024-11-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142601958","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Issue Information - Request for Papers 议题信息 - 征求论文

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-11-06 DOI: 10.1111/1475-679X.12587

引用次数: 0

Issue Information - Standing Call for Proposals for 发行信息--长期征集有关《世界文化多样性宣言》的提案

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-11-06 DOI: 10.1111/1475-679X.12588

引用次数: 0

Do Commercial Ties Influence ESG Ratings? Evidence from Moody's and S&P 商业关系会影响 ESG 评级吗？穆迪和标准普尔的证据

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-11-06 DOI: 10.1111/1475-679X.12582

XUANBO LI, YUN LOU, LIANDONG ZHANG

引用次数: 0

How Does Judges’ Personal Exposure to Financial Fraud Affect White-Collar Sentencing? 法官个人对金融欺诈的接触如何影响白领量刑？

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-10-22 DOI: 10.1111/1475-679X.12584

TRUNG NGUYEN, ANEESH RAGHUNANDAN, ALEXANDRA SCHERF

{"title":"How Does Judges’ Personal Exposure to Financial Fraud Affect White-Collar Sentencing?","authors":"TRUNG NGUYEN, ANEESH RAGHUNANDAN, ALEXANDRA SCHERF","doi":"10.1111/1475-679X.12584","DOIUrl":"10.1111/1475-679X.12584","url":null,"abstract":"<div>\u0000 \u0000 <p>We study whether federal judges’ <i>personal</i> exposure to financial fraud affects their <i>professional</i> behavior, in the form of sentencing outcomes in white-collar cases. Following the methodology outlined in our registered report, we construct a novel measure of financial fraud exposure based on judges’ direct shareholdings in firms that commit financial fraud. Using this measure, we exploit the random assignment of cases to judges to examine whether judges exposed to fraud in one firm are (1) less likely to rule in favor of defendants in white-collar cases involving other firms and (2) less likely to grant favorable pretrial motions to defendants. We find minimal evidence in support of either (1) or (2), concluding that for all but the most serious frauds, judges are unlikely to let their personal victimhood experience affect their professional sentencing behavior with respect to related cases. Our study broadens our understanding of the spillover effects of financial fraud enforcement and contributes to the literature on how judges’ personal experiences can shape judicial decision-making.</p>\u0000 </div>","PeriodicalId":48414,"journal":{"name":"Journal of Accounting Research","volume":"63 2","pages":"989-1029"},"PeriodicalIF":4.9,"publicationDate":"2024-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142486521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Disclosure, Patenting, and Trade Secrecy 信息披露、专利申请和商业秘密

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-10-22 DOI: 10.1111/1475-679X.12580

ARNOUD BOOT, VLADIMIR VLADIMIROV

引用次数: 0

The Role of Information in Building a More Sustainable Economy: A Supply and Demand Perspective 信息在建设更可持续的经济中的作用：供需视角

IF 4.9 2区管理学

Journal of Accounting Research Pub Date : 2024-10-18 DOI: 10.1111/1475-679X.12581

HENRY L. FRIEDMAN, GAIZKA ORMAZABAL

引用次数: 0