企业面临的政治风险与财务报告质量

IF 0.9 Q3 BUSINESS, FINANCE
Lukas Timbate, Dereje Ferede Asrat
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引用次数: 0

摘要

我们使用美国公司的数据研究了 2009 年至 2019 年间公司层面的政治风险对财务报告完整性的影响。我们提供的证据表明,根据有分析师关注政治风险或不确定性的公司的季度收益电话会议记录评估,公司层面的政治风险与会计信息质量成反比。这种效应更有可能发生在代理问题较多、增长较快、对外部融资依赖程度较高的公司。在控制宏观经济变量后,结果依然存在。我们的研究结果对其他财务报告质量标准和内生性检验也是稳健的,并且具有经济意义。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Firms’ exposure to political risk and financial reporting quality

We examine the effects of political risk at the firm level on the integrity of financial reports between 2009 and 2019 using a data from U.S. firms. We provide evidence that, as evaluated by quarterly earnings conference call transcripts of companies with analysts that focus on political risk or uncertainty, political risk at the firm level is inversely related to the quality of accounting information. This effect is more likely to happen to firms with a higher agency problem, faster growth, and greater reliance on outside finance. The results persist after controlling macroeconomic variables. Our findings are also robust to alternative financial reporting quality criteria and endogeneity tests, and are economically significant.

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来源期刊
CiteScore
2.30
自引率
7.10%
发文量
69
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