政治喜悦与企业披露：CEO与美国总统党派结盟调查

IF 5.4 1区管理学 Q1 BUSINESS, FINANCE

Journal of Accounting & Economics Pub Date : 2023-04-01 DOI:10.1016/j.jacceco.2022.101552

Mazhar Arikan , Mehmet Kara , Adi Masli , Yaoyi Xi

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引用次数: 1

摘要

我们研究了首席执行官和美国总统之间的党派结盟如何影响公司披露结果。我们预测并发现有证据表明，更倾向于党派的首席执行官在其公司披露中表现出更大的乐观情绪。CEO党派结盟与发布管理层盈利预测和发布过于乐观预测的可能性呈正相关。更倾向于党派的首席执行官在公司披露中也使用了更乐观的语气，并表现出较低水平的会计保守主义。我们的研究结果表明，由政治环境形成的CEO的时变信念可以影响公司披露。

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Political euphoria and corporate disclosures: An investigation of CEO partisan alignment with the president of the United States

We examine how the partisan alignment between chief executive officers (CEOs) and the United States president influences corporate disclosure outcomes. We predict and find evidence that more partisan-aligned CEOs display greater optimism in their corporate disclosures. CEO partisan alignment is positively associated with the likelihood of issuing a management earnings forecast and issuing overly optimistic forecasts. More partisan-aligned CEOs also use a more optimistic tone in the corporate disclosure and exhibit a lower level of accounting conservatism. Our findings suggest that time-varying beliefs of CEOs formed by the political environment can shape corporate disclosures.

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来源期刊

Journal of Accounting & Economics Multiple-

CiteScore

8.70

自引率

6.80%

发文量

期刊介绍： The Journal of Accounting and Economics encourages the application of economic theory to the explanation of accounting phenomena. It provides a forum for the publication of the highest quality manuscripts which employ economic analyses of accounting problems. A wide range of methodologies and topics are encouraged and covered: * The role of accounting within the firm; * The information content and role of accounting numbers in capital markets; * The role of accounting in financial contracts and in monitoring agency relationships; * The determination of accounting standards; * Government regulation of corporate disclosure and/or the Accounting profession; * The theory of the accounting firm.