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文泉会计论坛第80-81期讲座通知

  • 作者:     发布时间:2017-10-30    
  • 讲座之一What’s  in a Name? Eponymous Private Firms and Financial Reporting  Quality

    讲座教师Radhakrishnan Suresh教授  美国德克萨斯大学达拉斯分校管理学院

    讲座之二Are  Outside Directors with SEC Investigation Experience

        Better Monitors?

    讲座教师Yuan  Zhang副教授 美国德克萨斯大学达拉斯分校管理学院

    讲座时间2017111日(周三)下午3-5点半

    讲座地点:文泉楼南401会计学院大会议室


    讲座专家简介

    Suresh Radhakrishnan,纽约大学斯特恩商学院会计学博士,纽约大学统计及运筹学专业硕士曾任卡内基•梅隆大学访问助理教授、纽约大学斯特恩商学院助理教授、罗格斯大学管理学研究生院助理教授,现任德克萨斯大学达拉斯分校管理学院会计和公司治理专业特聘教授、德克萨斯大学达拉斯分校研究中心主任、德克萨斯大学达拉斯分校国际会计项目总监。曾任香港大学、台湾大学、香港理工大学、香港城市大学、复旦大学、西安交通大学等国内高等院校的客座教授。在公司治理方面研究成果卓著,主要研究成果发表于Management ScienceThe Accounting ReviewAccounting, Organisations and  SocietyContemporary Accounting ResearchJournal of Accounting, Auditing and  FinanceThe International Journal of  AccountingInformation Systems Research等期刊,代表作(仅列示部分)如下:

    1. Corporate Lobbying, Visibility and Accounting  Conservatism (with X. Kong, A. Tsang), Journal of Business Finance and  Accounting, forthcoming.

    2. “Corporate social responsibility report disclosures  and analyst forecast accuracy,” (with S. Mutlu, V. Muslu and A. Tsang), Journal  of Business Ethics, forthcoming.

    3. “The effects of the auditor’s insurance role on  reporting conservatism and audit quality,” (with Peicheng Liao), The Accounting  Review, March 2016, 91(2): 587-602.

    4. “The antecedents of co-developer participation in  open source projects,” (with R. Jayant, K. Dogan and V. Jacob),  ACM Transactions on Management Information  Systems, January 2016, 6(4).

    5. “Can payment-per-click induce improvements in click  fraud identification technologies?,” (with M. Chen, V. Jacob, Y. Ryu),  Information Systems Research, December 2015, 26(4):754-772.

    6. “Recognition of future news in earnings and price  bubbles in experimental markets,” Journal of Accounting Auditing and  Finance, 2015, 30(4): 558-575.

    7. “Corporate political connections and the 2008  Malaysian election,” (with F. Gul and S. Fung), Accounting, Organisations and  Society, 2015, 43: 67-83.

    8. “Forward-looking disclosures in the MD&A and the  financial information environment,” (with V. Muslu, K. R. Subramaniam and D.  Lim), Management Science, 2015, 61: 931-948.

    9. Discussion of “The effects of corporate governance  and product market competition on analysts’ forecasts: Evidence from Brazilian  capital market,” (with S. Janakiraman) The International Journal of  Accounting, 2015, 50: 340-346.

    10. “Analysts’ cash flow forecasts and accrual  mispricing,” (with Shu-ling Wu), Contemporary Accounting Research, 2014, 31: 1191-1219.


    Yuan Zhang, 南加州大学利文撒尔会计学院会计学博士,清华大学经济与管理学院会计学学士。曾任哥伦比亚大学助理教授,现任德克萨斯大学达拉斯分校会计学副教授,主要研究成果发表于Management Science,Journal of Accounting &  Economics, Journal of Accounting Research,The Accounting Review ,Review of  Accounting Studies,Journal of Portfolio Management等期刊,代表作如下:

    1. Social Connections within Executive Teams and  Management Forecasts (with Ruihao Ke, Meng Li, and Zhejia Ling). Accepted for  publication, Management Science, 2017.

    2. The Economic Consequences of Financial Restatements:  Evidence from the Market for Corporate Control (with Amir Amel-Zadeh). The  Accounting Review, Vol. 90, No. 1, January 2015. Lead article.

    3. Does Investment Efficiency Improve after the  Disclosure of Material Weaknesses in Internal Control over Financial Reporting?  (with Mei Cheng and Dan Dhaliwal). Journal of Accounting & Economics, Vol.  56, No. 1, July 2013. Lead article.

    4. Information Interpretation or Information Discovery:  Which Role of Analysts Do Investors Value More? (with Joshua Livnat). Presented  at the 2011 Review of Accounting Studies Conference; Review of Accounting  Studies, Vol. 17, No. 3, September 2012.

    5. Option Prices Leading Equity Prices: Do Option  Traders Have an Information Advantage? (with Wen Jin and Joshua Livnat).  Presented at the 2011 Journal of Accounting Research Conference;Journal of  Accounting Research, Vol. 50, No. 2, May 2012.

    6. Analysts’ Earnings Forecast, Recommendation and  Target Price Revisions (with Ronen Feldman and Joshua Livnat). Journal of  Portfolio Management, Vol. 38, No. 3, Spring 2012.

    7. Cover Me: Managers' Responses to Changes in Analyst  Coverage in the Post-Regulation FD Period (with Divya Anantharaman). The  Accounting Review, Vol. 86, No. 6, November 2011. Lead  article.

    8. Analysts’ Responsiveness and the Post Earnings  Announcement Drift. Journal of Accounting & Economics, Vol. 46, No. 1, September 2008.

    9. Revenue Recognition Timing and Attributes of Reported  Revenue: The Case of Software Industry’s Adoption of SOP 91-1. Journal of  Accounting & Economics, Vol. 39, No. 3, September 2005.

    10. Regulation FD and the Financial Information  Environment: Early Evidence (with Frank Heflin and K.R. Subramanyam). The  Accounting Review, Vol. 78, No. 1, January 2003. Lead article.


    讲座摘要

    What’s in a Name? Eponymous Private Firms and Financial  Reporting Quality

    We examine the association between eponymy (i.e., naming  a firm after the founder’s name) andfinancial reporting quality (FRQ). Using a  unique dataset of 2,271 Italian private firms, we document that eponymy is  positively associated with total accrual quality, working capital accrual  quality, revenue accrual quality, and a composite index of the three measures.  This relation is stronger for eponymous firms that have rarer names, consistent  with the argument that name rarity increases the signaling role and reputational  cost of eponymy. Corroborating these findings, we also find that the eponymy-FRQ  relation is stronger for firms that operate only locally, and weaker for firms  that operate in manufacturing-oriented businesses. Finally, we find that  eponymous firms are associated with lower cost of debt: both directly and  indirectly through their higher financial reporting quality. Collectively these  findings suggest that reputational concerns act as a disciplining mechanism for  financial reporting quality.


    Are Outside Directors with SEC Investigation Experience  Better Monitors?

    We examine whether outside directors (directors with  experience of SEC investigation, or DEIs) monitor financial reporting quality  more effectively than other outside directors after the firms they serve are  investigated by the SEC for accounting frauds. Using SEC investigations at one  firm as a quasi-exogenous shock to other (non-investigated) firms the same DEI  concurrently or subsequently serves, we first document that DEIs have higher  attendance rate at board meetings relative to other outside directors,  consistent with DEIs exerting greater monitoring effort. More importantly, we  find that firms with DEIs on board have significantly lower likelihood of  misreporting financial statements than firms without DEIs, especially when the  investigation experience of these DEIs is recent. Our study contributes to the  literature by documenting the positive spillover effect of SEC investigations  through director reputation and director learning.


     

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