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Persistent link: https://www.econbiz.de/10015408909
A smart mutual peer-to-peer insurance contract is a financial innovation that combines blockchain technology and a mutual insurance contract. This paper constructs a three-stage game theory model of the mutual insurance platform. The role of blockchain technology in solving the claim fraud...
Persistent link: https://www.econbiz.de/10014239297
We document significantly lower valuations for government contractors in the United States. While contracting with government agencies reduces firms' cost of equity, it significantly lowers their sales growth. These findings are contingent on economic conditions; negative valuations dissipate as...
Persistent link: https://www.econbiz.de/10012840866
Does government contracting translate to better earnings quality and less earnings management? In this study, we seek to answer this question. We find strong evidence that government suppliers strategically substitute accrual-based earnings management with real earnings management. Firms with...
Persistent link: https://www.econbiz.de/10013263096
Prior research suggests that risk and uncertainty in general, and country-wide political risk in particular, motivate managers to engage in earnings management. Using the text-based proxy for managers’ perception of political risk developed by Hassan et al. (2019), as well as principal...
Persistent link: https://www.econbiz.de/10014350991