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Browsing by Subject "Accounting"
Now showing items 1-20 of 27
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Aggregate Deferred Tax Asset Valuation Allowance and GDP Growth
(2022)This paper examines whether deferred tax asset valuation allowance growth, as a measure of expected future performance, aggregated at the macroeconomy level, conveys information about future GDP growth. Using hand-collected ... -
Decision Usefulness of the Equity Method of Accounting
(2013)I examine the decision usefulness of the equity method of accounting from two perspectives. First, I examine the value relevance of information provided under the equity method relative to the value relevance of information ... -
Essays on Financial Economics
(2018)This dissertation examines whether investors’ cognitive limitations can influence market prices and, if so, how this affects corporate decisions. In the first chapter, I investigate whether and how investors’ cognitive ... -
Essays on Other Comprehensive Income
(2014)In Chapter 1, I review the existing literature on the investor and contracting usefulness of other comprehensive income (OCI) components. In Chapter 2, I perform empirical tests focused on one aspect of investor usefulness ... -
Improving Financial Statement Footnotes: Evidence from Derivative and Hedging Disclosures
(2015)I investigate whether changes in derivative and hedging footnote disclosures required by SFAS 161 affect investor and analyst uncertainty. My study is motivated by accounting standard setters' and researchers' interest in ... -
Information Intermediation in Opaque Markets: Evidence from Equity Crowdfunding Analyst Reports
(2023)Equity crowdfunding (ECF) is a growing market in the U.S., where firms issue unregistered securities to the public over the Internet. This market is characterized as informationally opaque and dominated by unsophisticated ... -
Information Transparency and Risk Sharing in Commodity Futures Markets
(2023)A central function of commodity futures markets is to help firms in the real sector insure against commodity price fluctuations. I examine how greater availability of information about commodity fundamentals (henceforth, ... -
Internal and External Attributions by Managers in Earnings Conference Calls
(2012)In this study, I examine whether managers make self-serving attributions by internally (externally) attributing favorable (unfavorable) performance or demonstrate leadership by accepting blame and deflecting praise when ... -
International Financial Reporting Standards and Accounting Comparability
(2013)This thesis includes three papers that consider the effects of IFRS adoption on accounting comparability in the European Union (EU). In the first paper, I use actual financial statement data to create a measure of distance ... -
Managerial Response to Macroeconomic Uncertainty: Implications for Firm Profitability
(2020)This paper examines how agents’ response to macroeconomic uncertainty affects firms’ revenues, expenses, and profitability. Consistent with consumers reducing purchases and managers cutting costs, I find that increases in ... -
Market Multiples: Assessing the Relationships between M&A Deal Multiples, Market Conditions, and Target Accounting Measures
(2011-04-18)Mergers and Acquisitions research often focuses on the prices paid, as a multiple of earnings or cash flow, by strategic acquirers for their targets. These multiples are salient to this body of research, as they form the ... -
Market Multiples: Assessing the Relationships between M&A Deal Multiples, Market Conditions, and Target Accounting Measures
(2011-04-18)Mergers and Acquisitions research often focuses on the prices paid, as a multiple of earnings or cash flow, by strategic acquirers for their targets. These multiples are salient to this body of research, as they form the ... -
Material Weakness Discovery Lag and Misstatement Risk in a Constrained Control Testing Environment
(2017)In this study, I explore whether archival evidence is consistent with auditors conforming to auditing standards when discovering and responding to internal control weaknesses, and whether conforming has adverse consequences ... -
Monthly Employment Reports and the Pricing of Firm-Level Earnings News
(2012)I use the monthly release of the Employment Situation (ES) by the Bureau of Labor Statistics to examine the impact of macroeconomic uncertainty on the pricing of firm-level earnings news. I use this setting because uncertainty ... -
Municipal Bond Credit Rating Access and Retail Investors’ Transaction Costs
(2023)In 2010, the Municipal Securities Rulemaking Board proposed a rule change requiring the display of current credit ratings on the EMMA website, a centralized repository of municipal bond information. Prior to the rule change, ... -
Optimal Reporting Systems With Investor Information Acquisition
(2016)This paper analyzes a manager's optimal ex-ante reporting system using a Bayesian persuasion approach (Kamenica and Gentzkow (2011)) in a setting where investors affect cash flows through their decision to finance the firm's ... -
Product Market Competition and Real Earnings Management to Meet or Beat Earnings Targets
(2015)Earnings management could be motivated by either managerial opportunism or efficient contracting. To discriminate between these motivations, I use a measure of product market competition that analytical research predicts ... -
Reckoning with Reconciliation: A Grammar of Whiteness
(2022)Reconciliation language, however well-intentioned, is neither innocent nor innocuous. In this dissertation, I argue that reconciliation is part of a grammar of whiteness. This word, particularly when spoken and enacted by ... -
Separating Information About Cash Flows From Information About Risk in Losses
(2012)This paper reconsiders the information content of losses, specifically, the extent to which losses contain distinct and offsetting information about future cash flows and about risk. Based on theory that suggests exit value ... -
Soft Risk Disclosure with Feedback Effect
(2020)This paper studies firms' optimal qualitative disclosure about hard-to-quantify risk exposure to affect investors' information acquisition under the feedback effect channel. Based on a model with unknown payoff distribution, ...
