Showing 1 - 10 of 42
Reporting Standards (IFRS). The literature consistently shows that the benefits of mandatory IFRS convergence are concentrated … weaker in China relative to more developed Western economies, whether mandating IFRS will benefit the Chinese capital market … events leading up to IFRS convergence, and this effect is more pronounced among firms with greater dependence on external …
Persistent link: https://www.econbiz.de/10011721607
We examine the informational role of governments in the private sector in emerging economies. Using a large sample of private firms, we show that governments’ ability and willingness to collect and disseminate economic information (government transparency) is positively associated with...
Persistent link: https://www.econbiz.de/10012886225
We examine whether bank connections via common mutual fund ownership serve as a contagion channel affecting the systemic risk of the banking system. We first document that the extent of a bank’s connection with other banks via common ownership increases its contribution to systemic risk. We...
Persistent link: https://www.econbiz.de/10012595430
This study constructs a novel measure that aims to capture face-to-face private communications between firm managers and sell-side analysts by mapping detailed, large-volume taxi trip records from New York City to the GPS coordinates of companies and brokerages. Consistent with earnings releases...
Persistent link: https://www.econbiz.de/10012886366
We examine the impact of China's anti-corruption campaign on firm-level financial reporting quality (FRQ). As an important component of the anti-corruption campaign, in October 2013, “Rule 18” was issued to prohibit party and government officials from serving as directors for publicly listed...
Persistent link: https://www.econbiz.de/10011721565
This paper provides early but broad empirical evidence on a major new investor protection regulation in Europe, MiFID II, which requires investment firms to unbundle investment research from other costs they charge to clients. We predict that the price separation resulting from unbundling and a...
Persistent link: https://www.econbiz.de/10012052561
From the sociolinguistic perspective, this study examines whether the honorific and actual-name appellations that Chinese auditors use to address clients in audit reports connote differential financial misstatement risk. Specifically, we hypothesize that auditors' use of honorifics signals their...
Persistent link: https://www.econbiz.de/10012052413
Using mutual fund flow, we empirically test whether choices made by investors are consistent with preferences implied by prospect theory. Our findings support this hypothesis. When allocating capital to mutual funds, investors evaluate funds based on the past performance distribution and choose...
Persistent link: https://www.econbiz.de/10012886145
By extending Kumar, Ruenzi and Ungeheuer (2018), we examine whether the attention-induced overpricing spills over from the stock market to the options market. While they find an increasing buying pressure from retail investors when the stock achieves an attention-grabbing status in the form of a...
Persistent link: https://www.econbiz.de/10011897970
Persistent link: https://www.econbiz.de/10011897800