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Для развития здорового бизнеса в России
  • Намного выше

    риска неудачи от разумного действия риск потерять время в сомнениях.

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    Есть понятная бизнес-идея... но как организовать под нее новую команду?


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Интересные статьи

  • The effect of mandatory CSR disclosure on firm profitability and social externalities: Evidence from China
    Publication date: February 2018
    Source:Journal of Accounting and Economics, Volume 65, Issue 1

    Author(s): Yi-Chun Chen, Mingyi Hung, Yongxiang Wang

    We examine how mandatory disclosure of corporate social responsibility (CSR) impacts firm performance and social externalities. Our analysis exploits China's 2008 mandate requiring firms to disclose CSR activities, using a difference-in-differences design. Although the mandate does not require firms to spend on CSR, we find that mandatory CSR reporting firms experience a decrease in profitability subsequent to the mandate. In addition, the cities most impacted by the disclosure mandate experience a decrease in their industrial wastewater and SO2 emission levels. These findings suggest that mandatory CSR disclosure alters firm behavior and generates positive externalities at the expense of shareholders.

  • Earnings management and annual report readability
    Publication date: February 2017
    Source:Journal of Accounting and Economics, Volume 63, Issue 1

    Author(s): Kin Lo, Felipe Ramos, Rafael Rogo

    We explore how the readability of annual reports varies with earnings management. Using the Fog Index to measure readability (Li, 2008), and focusing on the management discussion and analysis section of the annual report (MD&A), we predict and find that firms most likely to have managed earnings to beat the prior year's earnings have MD&As that are more complex. This disruption of the overall pattern of readability increasing with the level of earnings found in Li (2008) challenges the ontological explanation that good news is inherently easier to communicate, and shows that obfuscation contributes to making disclosures more complex.

  • Signaling through corporate accountability reporting
    Publication date: August 2015
    Source:Journal of Accounting and Economics, Volume 60, Issue 1

    Author(s): Thomas Lys, James P. Naughton, Clare Wang

    We document that corporate social responsibility (“CSR”) expenditures are not a form of corporate charity nor do they improve future financial performance. Rather, firms undertake CSR expenditures in the current period when they anticipate stronger future financial performance. We show that the causality of the positive association between CSR expenditures and future firm performance differs from what is claimed in the vast majority of the literature and that corporate accountability reporting is another channel through which outsiders may infer insiders’ private information about firms’ future financial prospects.

  • Mandatory disclosure and asymmetry in financial reporting
    Publication date: April–May 2015
    Source:Journal of Accounting and Economics, Volume 59, Issues 2–3

    Author(s): Jeremy Bertomeu, Robert P. Magee

    This paper examines the demand for disclosure rules by informed managers interested in increasing the market price of their firms. Within a model of political influence, a majority of managers chooses disclosure rules with which all firms must comply. In equilibrium, disclosure rules are asymmetric with greater levels of disclosure over adverse events. This asymmetry is positively associated with the informativeness of the measurement and increasing in the level of verifiability and ex-ante uncertainty of the information. The theory also offers implications about the relation between mandatory and voluntary disclosure, when both channels are endogenous.

  • A review of archival auditing research
    Publication date: November–December 2014
    Source:Journal of Accounting and Economics, Volume 58, Issues 2–3

    Author(s): Mark DeFond, Jieying Zhang

    We define higher audit quality as greater assurance of high financial reporting quality. Researchers use many proxies for audit quality, with little guidance on choosing among them. We provide a framework for systematically evaluating their unique strengths and weaknesses. Because it is inextricably intertwined with financial reporting quality, audit quality also depends on firms’ innate characteristics and financial reporting systems. Our review of the models commonly used to disentangle these constructs suggests the need for better conceptual guidance. Finally, we urge more research on the role of auditor and client competency in driving audit quality.

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