Showing 1 - 10 of 34
In this paper, we examine the relation between client importance to Big 4 audit firm local offices and unconditional conservatism in complex accounting estimates; specifically, stock option volatility, pension expected asset rates of return, and pension discount rates. Changes in these...
Persistent link: https://www.econbiz.de/10013404792
We investigate the relationship between corporate social performance and institutional ownership. We distinguish between long-term and short-term institutional investors using holdings-based measures which directly capture the investment horizon of each institution. Our analysis shows that long...
Persistent link: https://www.econbiz.de/10012946548
Persistent link: https://www.econbiz.de/10010528439
Recent studies show that loss probability (LP) is a decisive factor when people evaluate risk of assets in laboratory experiments, suggesting a positive relationship between LP and expected stock returns. This corresponds to the classical "Safety-First" principle. We find empirical support for...
Persistent link: https://www.econbiz.de/10012860204
In this paper we analyse firm level systemic risk for US and European banks from 2004 to 2012. We observe that common systemic risk indicators are primarily driven by firm size which implies an overriding concern for “too-big-to-fail” institutions. However, smaller banks may still pose...
Persistent link: https://www.econbiz.de/10012974040
Persistent link: https://www.econbiz.de/10015077551
Newly deposited mercury (Hg) is more readily methylated to methylmercury (MeHg) and accumulates in rice than ambient Hg in soil. However, the geochemical fractionation of newly deposited (“new” Hg) Hg in the soil is still unknown. In this study, enriched stable Hg isotope was employed to...
Persistent link: https://www.econbiz.de/10013303255
This study examines how the quality of corporate disclosures impacts the precision of information that financial analysts incorporate into their forecasts of annual earnings. Our empirical measures distinguish between individual analysts' common and idiosyncratic (uniquely private) information...
Persistent link: https://www.econbiz.de/10014108633
We rely on the theoretical prediction that financial misreporting peaks before economic busts to examine whether aggregate ex ante measures of the likelihood of financial misreporting improve the predictability of U.S. recessions. We consider six measures of misreporting and show that the...
Persistent link: https://www.econbiz.de/10013240408
Leone et al. (2006) conclude that CEO cash compensation is more sensitive to negative stock returns than to positive stock returns, due to Boards of Directors enforcing an ex post settling up on CEOs. Dechow (2006) conjectures that Leone et al.'s (2006) results might be due to the sign of stock...
Persistent link: https://www.econbiz.de/10013149715