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We would like to thank the Grant Thornton LLP for its generous support in sponsoring the 2018 FARS Midyear Meeting.

2018 Financial Accounting and Reporting Section Midyear Meeting

Click Here to access abstracts

Friday, January 26, 2018

   
7:00 am - 8:00 am Breakfast for Doctoral Consortium Participants

8:00 am - 10:00 am Plenary Session
Speakers: Christian Leuz, The University of Chicago
Mohan Venkatachalam, Duke University

10:00 am - 10:30 am Break

10:30 am - 11:30 am Breakout Q&A Sessions

Group 1: Mary Billings, New York University
Group 2: Shuping Chen, The University of Texas at Austin
Group 3: Ted Christensen, The University of Georgia
Group 4: Peter Demerjian, University of Washington
Group 5: Yonca Ertimur, University of Colorado Boulder
Group 6: Sudarshan Jayaraman, University of Rochester
Group 7: Kristina Rennekamp, Cornell University
Group 8: Brian Rountree, Rice University

Friday, January 26, 2018

 
8:00 am - 8:30 am Breakfast for Research Workshop Participants

8:30 am - 11:30 am Research Workshop on Data Analytics and Topic Modeling
Information Technology - 3.6 CH

Mike Willis, Securities and Exchange Commission
Big Data—More Data More Insights: How is the SEC using big data to enhance its analytical capabilities and what public data sets might be of interest for academic analysis?

Andrew Bauer, University of Waterloo
The Evolution of Accounting Skills: An Introduction to Data Analytics and Topic Modeling

12:00 pm - 1:30 pm Lunch
Interchange Between Academics and Practitioners: Perspectives from the FASB
Accounting - 1.0 CH
Speaker: Marc Siegel, FASB

1:45 pm - 3:15 pm Plenary Session
Accounting - 1.8 CH
Welcome
Speaker: Lisa Koonce, FARS President, The University of Texas at Austin

Top Picks of the 17 FARS Editors
Moderator: Richard Sloan, University of Southern California/University of California, Berkeley

Automatic Summarization of Corporate Disclosures
Eddy Cardinaels, Tilburg University
Stephan Hollander, Tilburg University
Brian White, The University of Texas at Austin

Switching from Voluntary to Mandatory Disclosure: Do Managers View Them as Substitutes?
Suzie Noh, Massachusetts Institute of Technology
Eric So, Massachusetts Institute of Technology
Joseph P. Weber, Massachusetts Institute of Technology

Why Do Individual Investors Disregard Accounting Information? The Roles of Information Awareness and Acquisition Costs
Elizabeth Blankespoor, Stanford University
Ed deHaan, University of Washington
John Wertz, University of Washington
Christina Zhu, Stanford University

3:15 pm - 3:45 pm Break

3:45 pm - 5:15 pm Concurrent Sessions

Session 1.01: Investor Attention and the Role of IR
Accounting - 1.8 CH
Moderator: John Wertz, University of Washington

Is Investor Attention for Sale? The Role of Advertising in Financial Markets
Joshua Madsen, University of Minnesota
Marina Niessner, Yale University
Discussant: Elizabeth Blankespoor, Stanford University

Managing the Narrative: Investor Relations Officers and Corporate Disclosure
Lawrence D. Brown, Temple University
Andrew C. Call, Arizona State University
Michael B. Clement, The University of Texas at Austin
Nathan Y. Sharp, Texas A&M
Discussant: Kimball Chapman, Washington University in St. Louis

Who Pays Attention to SEC Form 8-K?
Peter Easton, University of Notre Dame
Azi Ben-Rephael, Indiana University Bloomington
Zhi Da, University of Notre Dame
Ryan Israelsen, Michigan State University
Discussant: Suhas A. Sridharan, Emory University

Session 1.02: Taxes and Financial Reporting
Accounting - 1.8 CH
Moderator: Bridget Stomberg, Indiana University Bloomington

Mind the Gap: Determinants and Implications of the Difference between Tax Expense and Tax Paid
Xi Chen, University of Houston
Allison Koester, Georgetown University
Terry J. Shevlin, University of California, Irvine
Discussant: Andrew Bird, Carnegie Mellon University

The Determinants of Segment-level Tax Expense Disclosure
Logan B. Steele, University of Wisconsin-Madison
Fabio Gaertner, University of Wisconsin-Madison
Daniel Patrick Lynch, University of Wisconsin-Madison
Discussant: Bridget Stomberg, Indiana University Bloomington

The Persistence and Pricing Implications of Changes in Multinational Firms’ Foreign Cash Holdings
Xi Chen, University of Houston
Peng-Chia Chiu, The Chinese University of Hong Kong
Terry J. Shevlin, University of California, Irvine
Discussant: Jennifer L. Blouin, University of Pennsylvania

Session 1.03: Earnings Management I
Accounting - 1.8 CH
Moderator: Matthew C. Cedergren, University of Pennsylvania

Examining the Examiners: SEC Effectiveness in Identifying Financial Reporting Errors
Matthew Kubic, Duke University
Discussant: Terrence Patrick Blackburne, University of Washington

Expectations Management and Stock Returns
Jinhwan Kim, Massachusetts Institute of Technology
Eric So, Massachusetts Institute of Technology
Discussant: Joseph John Gerakos, Dartmouth College

Managerial Response to Non-Fundamental Price Shocks
John C. Heater, Yale University
Ben Matthies, Yale University
Yukun Liu, Yale University
Discussant: Matthew C. Cedergren, University of Pennsylvania

Session 1.04: Benchmarking in Corporate Governance
Accounting - 1.8 CH
Moderator: Christoph Johann Sextroh, Tilburg University

Are Top Management Teams Compensated as Teams? A Structural Modeling Approach
Chen Li, Baruch College-CUNY
Discussant: Mirko Stanislav Heinle, University of Pennsylvania

Does It Pay to “Be Like Mike”? Aspirational Peer Firms and Relative Performance Evaluation
Ryan Ball, University of Michigan
Thomas Hemmer, Rice University
Jonathan Bonham, The University of Chicago
Discussant: Robin Litjens, Tilburg University

Governance Through Shame and Aspiration: Index Creation and Corporate Behavior in Japan
Akash Chattopadhyay, University of Toronto
Matthew Shaffer, Harvard University
Charles C. Y. Wang, Harvard University
Discussant: Brandon Gipper, Stanford University

Session 1.05: Securities Regulation - I
Accounting - 1.8 CH
Moderator: Suzie Noh, Massachusetts Institute of Technology

Does Financial Reporting Matter? Evidence from Accounting Standards
Andrew Bird, Carnegie Mellon University
Aytekin Ertan, London Business School
Stephen Adam Karolyi, Carnegie Mellon University
Thomas Ruchti, Carnegie Mellon University
Discussant: Rahul Vashishtha, Duke University

Information Externalities of Disclosure Regulation: Evidence from SFAS 161
Jing Chen, University at Buffalo, SUNY
Yiwei Dou, New York University
Youli Zou, George Washington University
Discussant: Brad Badertscher, University of Notre Dame

Regulatory Spillovers in Common Audit Markets
Raphael Duguay, The University of Chicago
Michael Minnis, The University of Chicago
Andrew Gordon Sutherland, Massachusetts Institute of Technology
Discussant: Karen K. Nelson, Texas Christian University

Session 1.06: Voluntary Disclosure - Non-Earnings Information
Accounting - 1.8 CH
Moderator: Roberto Vincenzi, London Business School

Are All Insider Sales Created Equal? New Evidence from Form 4 Footnote Disclosures

Amir Amel-Zadeh, University of Oxford
Jonathan Faasse, University of Cambridge
Juliane Lotz, University of Mannheim
Discussant: Roger McNeill White, Arizona State University

Do Accounting Disclosures Impair Disclosing Firms’ Competitiveness? Evidence from Mergers and Acquisitions
Jaewoo Kim, University of Rochester
Daniel W. Collins, The University of Iowa
Heejin Ohn, The University of Iowa
Discussant: Yu Wang, University of Houston

Economic Consequences of Risk Disclosures: Evidence from Crowdfunding
Joshua Madsen, University of Minnesota
Jeff Lawrence McMullin, Indiana University Bloomington
Discussant: Tathagat Mukhopadhyay, Leeds School of Business, University of Colorado

Session 1.07: Bank Financial Reporting and Lending Decisions
Accounting - 1.8 CH
Moderator: Aleksander A. Aleszczyk, London Business School

Do Investors Impound Information About Unrecognized Expected Credit Losses into Bank Stock Prices?
Barrett Wheeler, Tulane University
Discussant: Aleksander A. Aleszczyk, London Business School

Mandatory Bank Disclosures and Credit Access
Karthik Balakrishnan, London Business School
Aytekin Ertan, London Business School
Discussant: Gauri Bhat, Southern Methodist University

Do Corporate Loan Officers Impact Lending Decisions? Evidence from the Syndicated Loan Market
Janet Gao, Indiana University Bloomington
Xiumin Martin, Washington University in St. Louis
Joseph Pacelli, Indiana University Bloomington
Discussant: Carlo Maria Gallimberti, Boston College

Session 1.08: Accruals and Earnings Quality

Accounting - 1.8 CH
Moderator: Akash Chattopadhyay, University of Toronto

Accruals and the Cross-Section of Expected Stock and Option Returns
Salman Arif, University of Pennsylvania
Matthew Lyle, Northwestern University
Discussant: Robert J. Resutek, The University of Georgia

Qualitative Fundamentals in Earnings Press Releases
Ken Li, Stanford University
Discussant: Jared Jennings, Washington University

Earnings Quality on the Street
Urooj Khan, Columbia University
Venkat Peddireddy, Columbia University
Shivaram Rajgopal, Columbia University
Discussant: Zachary R. Kaplan, Washington University

6:00 pm - 7:30 pm Reception

Saturday, January 27, 2018

   
8:00 am - 9:30 am

Concurrent Sessions

Session 2.01: Analysts as a Product of the Capital Markets
Accounting - 1.8 CH
Moderator: Kelly Huang, Florida International University

Do Connections with Buy-Side Analysts Inform Sell Side Analyst Research?
Gjergji Cici, College of William & Mary
Philip B. Shane, College of William & Mary
Yanhua Sunny Yang, University of Connecticut
Discussant: Michael J. Jung, New York University

Does Policy Analysis Matter? The Value of Washington Analysts to Investment and Capital Markets
Roni Michaely, Cornell University
Daniel Bradley, University of South Florida St. Petersburg
Sinan Gokkaya, Ohio University
Xi Liu, Miami University
Discussant: Stanimir Markov, Southern Methodist University

The Value of Cultural Diversity on Wall Street: Evidence from Sell-Side Analysts’ Forecasts
Kenneth Merkley, Cornell University
Roni Michaely, Cornell University
Joseph Pacelli, Indiana University Bloomington
Discussant: Ari Yezegel, Bentley University

Session 2.02: Anomalies and Return Prediction
Accounting - 1.8 CH
Moderator: Eric So, Massachusetts Institute of Technology

Changes in Operating Margins During a Sales Decline and Abnormal Returns
Rajiv D. Banker, Temple University
Han-Up Park, University of Saskatchewan
Discussant: Ken Li, Stanford University

Salient or Safe: Why do Predicted Stock Issuers Earn Low Returns?
Charles M. C. Lee, Stanford University
Ken Li, Stanford University
Discussant: Travis Johnson, The University of Texas at Austin

Technological Links and Predictable Returns
Charles M. C. Lee, Stanford University
Teng Stephen Sun, Peking University
Rongfei Wang, Peking University
Ran Zhang, Peking University
Discussant: Jinhwan Kim, Massachusetts Institute of Technology

Session 2.03: Drivers and Consequences of Audit Choices
Auditing - 1.8 CH
Moderator: Feng Chen, University of Toronto

Audit Procedures and Financial Statement Quality: The Positive Effects of Negative Assurance
Brad Badertscher, University of Notre Dame
Jaewoo Kim, University of Rochester
William R. Kinney, The University of Texas at Austin
Edward Owens, Emory University
Discussant: Phillip T. Lamoreaux, Arizona State University

To Share or Not to Share: The Importance of Peer Firm Similarity to Auditor Choice

Kenneth L. Bills, University of Arkansas
Matthew Cobabe, Virginia Polytechnic Institute and State University
Jeffrey Pittman, Memorial University of Newfoundland
Sarah E. Stein, Virginia Polytechnic Institute and State University
Discussant: Mahfuz Chy, University of Toronto

Auditor Reputation Losses, Legal Liability, and Standards
Naomi Rothenberg, University of Alberta
Discussant: Ronghuo Zheng, The University of Texas at Austin

Disciplining Role of Auditor Tenure and Mandatory Auditor Rotation
Aysa Dordzhieva, The University of Texas at Austin
Discussant: Hao Xue, New York University

Session 2.04: Debt Contracting and Financial Reporting
Accounting - 1.8 CH
Moderator: Jordan Schoenfeld, The University of Utah

CEO Contractual Protection and Debt Contracting
Qiang Cheng, Singapore Management University
Xia Chen, Singapore Management University
Alvis K. Lo, Boston College
Xin Wang, The University of Hong Kong
Discussant: Ningzhong Li, The University of Texas at Dallas

Changes in Contractual Environment and Borrowe Reporting Quality - An Empirical Study of Chinese Bank Privatization
Xiumin Martin, Washington University in St. Louis
Sugata Roychowdhury, Boston College
Xuejiao Liu, University of International Business and Economics
Dequi Chen, University of International Business and Economics
Discussant: Regina Wittenberg Moerman, University of Southern California

Debt Covenants, Renegotiation, and Accounting Manipulation
Volker Laux, The University of Texas at Austin
Discussant: Ivan Marinovic, Stanford University

Debt Financing and Collateral: The Role of Fair-Value Adjustments
Aleksander A. Aleszczyk, London Business School
Emmanuel T. De George, London Business School
Aytekin Ertan, London Business School
Florin P. Vasvari, London Business School
Discussant: Maria Loumioti, The University of Texas at Dallas

Session 2.05: Voluntary Disclosure - Textual Analysis
Accounting - 1.8 CH
Moderator: Roberto Vincenzi, London Business School

Measuring Investment Opportunities Using Financial Statement Text
Sudipta Basu, Temple University
Hoa Xuan Tran, Temple University
Xinjie Ma, Temple University
Discussant: Fang Zhao, Merrimack College

What Information Do Firms Hide in Confidential SEC Filings?
Anne Margaret Thompson, University of Illinois at Urbana-Champaign
Oktay Urcan, University of Illinois at Urbana-Champaign
Hayoung Yoon, University of Illinois at Urbana-Champaign
Discussant: Bret Johnson, George Mason University

Voluntary Disclosures Regarding Open Market Repurchase Programs
Leonce Bargeron, University of Kentucky
Alice Bonaime, The University of Arizona
Mei Feng, University of Pittsburgh at Johnstown
Shawn Thomas, University of Pittsburgh at Johnstown
Discussant: Oktay Urcan, University of Illinois at Urbana-Champaign

Session 2.06: Corporate Directors
Accounting - 1.8 CH
Moderator: Michael Erkens, Erasmus University Rotterdam

Busy Directors and Shareholder Satisfaction
Kevin Chen, University of Pennsylvania
Wayne Guay, University of Pennsylvania
Discussant: Susanna Gallani, Harvard University

Do Director Networks Help Managers Plan Better?
Mario Schabus, The University of Melbourne
Discussant: Roger McNeill White, Arizona State University

Tainted Executives as Outside Directors

Leah Baer, University of Colorado Boulder
Yonca Ertimur, University of Colorado Boulder
Jingjing Zhang, McGill University
Discussant: Daehyun Kim, University of Toronto

Understanding the Determinants of Board Busyness and the Relation Between Busyness and Performance
Tongqing Ding, University of Colorado Boulder
Discussant: Jonathan Jona, The University of Melbourne

Session 2.07: Investors Disagreement and Limited
Accounting - 1.8 CH
Moderator: Estelle (Yuan) Sun, Boston University

Bulls and Bears: Disagreement and Trading Volume around News Announcements
Asher Curtis, University of Washington
Vernon J. Richardson, University of Arkansas
Adam Booker, University of Arkansas
Discussant: Alina Lerman, Yale University

How are Shareholder Votes and Trades Related?
Sophia Li, Rutgers, The State University of New Jersey
Miriam Schwartz-Ziv, Michigan State University
Discussant: Francois Brochet, Boston University

Unexpected Distractions and Investor Attention to Corporate Disclosures
Doron Israeli, Arison School of Business
Ron Kasznik, Stanford University
Suhas A. Sridharan, Emory University
Discussant: Darren T. Roulstone, The Ohio State University

Session 2.08: Individual Investor Decisions

Accounting - 1.8 CH
Moderator: Amanda Convery, University of Delaware

Starting, Stopping and Reporting on Corporate Social Responsibility: How Do Investors React When Companies Stop Doing Good?
Shannon Garavaglia, The University of Texas at Austin
Brian Joseph White, The University of Texas at Austin
Julie Irwin, The University of Texas at Austin
Discussant: Shana Clor-Proell, Texas Christian University

Push and Pull: The Influence of Information Access Method and Value Relevance on Investor Judgments and Market Efficiency
Wynter Brooke Elliott, University of Illinois at Urbana-Champaign
Brian Gale, University of Illinois at Urbana-Champaign
Jessen L. Hobson, University of Illinois at Urbana-Champaign
Discussant: Blake Steenhoven, Cornell University

The Effects of Affiliation with Information Intermediaries on Investment Judgments
Timothy Brown, University of Illinois at Urbana-Champaign
Nicole Cade, University of Pittsburgh at Johnstown
Amanda Michelle Winn, University of Illinois at Urbana-Champaign
Discussant: Yao Yu, University of Massachusetts Amherst

 

9:30 am - 10:00 am Break

10:00 am - 11:30 am

Concurrent Sessions

Session 3.01: Auditors’ Human Capital and Labor Markets
Auditing - 1.8 CH
Moderator: Siddharth Bhambhwani, University of Miami

Audit Personnel Salaries and Audit Quality
Jeffrey Lamro Hoopes, The University of North Carolina at Chapel Hill
Kenneth Merkley, Cornell University
Joseph Pacelli, Indiana University Bloomington
Joseph H. Schroeder, Indiana University Bloomington
Discussant: Daniel Aobdia, Northwestern University

Consequences of Low-Quality Audits for Engagement Partners.
Daniel Aobdia, Northwestern University
Reining Petacchi, Georgetown University
Discussant: Joseph H. Schroeder, Indiana University Bloomingto

Do Labor Markets Discipline? Financial Restatements and Accountants
Michael Shen, Michigan State University
Discussant: Matthew Phillips, University of Miami

Strategic Entry Deterrence in the Audit Industry: Evidence from the Merger of Professional Accounting Bodies

Stephanie F. Cheng, University of Toronto
Danqi Hu, Northwestern University
Ole-Kristian Hope, University of Toronto
Discussant: Michael Shen, Michigan State University

Session 3.02: Voluntary Disclosure - Determinants and Effects
Accounting - 1.8 CH
Moderator: Katharine Wright Adame, University of Washington

Firm Disclosure Response to Takeover Threat: Testing the Corporate Control Contest Hypothesis
Shuping Chen, The University of Texas at Austin
Bin Miao, Hong Kong Polytechnic University
Kristen Valentine, The University of Texas at Austin
Discussant: Delphine Samuels, Massachusetts Institute of Technology

Pessimistic Earnings Guidance Before Annual Incentive Plan Approval
Xiumin Martin, Washington University in St. Louis
Hojun Seo, National University of Singapore
Jun Yang, Indiana University Bloomington
Discussant: Lucile C. Faurel, Arizona State University

Wealth Destruction Effects of Annual Management Forecasts
Mahfuz Chy, University of Toronto
Discussant: Thomas Ruchti, Carnegie Mellon University

Session 3.03: Earnings Management II
Accounting - 1.8 CH
Moderator: Mirko Stanislav Heinle, University of Pennsylvania

A New Measure of Managers’ Intentional Income Smoothing
Dirk E. Black, Dartmouth College
Spencer Ryan Pierce, Florida State University
Wayne B. Thomas, The University of Oklahoma
Discussant: Bryce Alexander Schonberger, University of Rochester

Hidden in the Woodshed: Big Bath Herding
Natalya V. Khimich, Drexel University
Tatiana Fedyk, University of San Francisco
Discussant: Mirko Stanislav Heinle, University of Pennsylvania

Understanding the “Numbers Game”
Stephen Adam Karolyi, Carnegie Mellon University
Andrew Bird, Carnegie Mellon University
Thomas Ruchti, Carnegie Mellon University
Discussant: Frank Zhou, University of Pennsylvania

Session 3.04: Disclosure and Asset Pricing
Accounting - 1.8 CH
Moderator: Eric So, Massachusetts Institute of Technology

Can Disclosure Decrease Price Efficiency? Evidence from Mutual Fund Disclosures
Zachary R. Kaplan, Washington University
Aadhaar Verma, Washington University in St. Louis
Todd Gormley, Washington University in St. Louis
Discussant: Rahul Vashishtha, Duke University

Disclosure of Mutual Fund Holdings and Insider Trading Profitability
Tathagat Mukhopadhyay, University of Colorado Boulder
Karthik Balakrishnan, London Business School
Lakshmanan Shivakumar, London Business School
Discussant: Suhas A. Sridharan, Emory University

The Feedback Effect of Disclosure Externalities

Jinhwan Kim, Massachusetts Institute of Technology
Ben P. Yost, Boston College
Rodrigo Verdi, Massachusetts Institute of Technology
Discussant: Jacob Thornock, Brigham Young University

Session 3.05: Fundamental Analysis and Valuation
Accounting - 1.8 CH
Moderator: Akash Chattopadhyay, University of Toronto

Do Investors Adjust Financial Statement Ratios for Accounting-Based Timing Distortions? Evidence from Cash Flow Hedges
John L. Campbell, The University of Georgia
Jenna D’Adduzio, The University of Georgia
Jimmy Downes, University of Nebraska-Lincoln
Steve Utke, University of Connecticut
Discussant: Frank Ecker, Frankfurt School of Finance & Management

Are Activist Investors Good or Bad for Business? Evidence from Capital Market Prices, Informed Traders, and Firm Fundamentals
Edward P. Swanson, Texas A&M
Glen Young, Texas State University
Discussant: Akash Chattopadhyay, University of Toronto

A Manufactured Diversification Discount
John E. Hund, The University of Georgia
Donald Monk, Rutgers, The State University of New Jersey, New Brunswick
Sheri Tice, Tulane University
Discussant: Gerardo Perez Cavazos, Harvard University

Session 3.06: Securities Regulation II
Accounting - 1.8 CH
Moderator: Elizabeth Blankespoor, Stanford University

When Does the SEC Exercise Enforcement Leniency?
Michelle Liu, Hunter College-CUNY
Andrew J. Leone, University of Miami
Edward Li, Baruch College-CUNY
Discussant: Kathleen Hanley, Lehigh University

Securities Regulation and Household Stock Market Participation
Hans Bonde Christensen, The University of Chicago
Mark G. Maffett, The University of Chicago
Lauren Vollon, The University of Chicago
Discussant: Jean-Marie Meier, The University of Texas at Dallas

The Influence of Cross-Border Cooperation on Market Quality
Roger Silvers, The University of Utah
Discussant: Hans Bonde Christensen, The University of Chicago

Session 3.07: The Role of Social Media and New Technology
Accounting - 1.8 CH
Moderator: Joseph Johnson, University of Central Florida

Twitter Images, Press Release Prominence, and Investors’ Reliance on Pro Forma Earnings
Nerissa C. Brown, University of Delaware
Wynter Brooke Elliott, University of Illinois at Urbana-Champaign
Stephanie Grant, University of Washington
Discussant: Ryan Dale Guggenmos, Cornell University

Undue Influence? The Effect of Social Media Advice on Investment Decisions
Dan Zhou, Emory University
Kathryn Kadous, Emory University
Molly Mercer, DePaul University
Discussant: Siman Li, Georgia Institute of Technology

Linguistic Formality and Perceived Engagement - Investors’ Reactions to Two Unique Characteristics of Social Media Disclosures
Patrick Witz, Cornell University
Kristina Rennekamp, Cornell University
Discussant: Yushi Tian, University of Massachusetts Amherst

11:45 am - 1:30 pm Lunch
Pathways to a Sustainable Future
Speaker: Markus Ahrens, 2017-2018 AAA Council Chair Elect, Saint Louis Community College - Meramec

2:00 pm - 3:30 pm

Concurrent Sessions

Session 4.01: Forecasting Profitability
Accounting - 1.8 CH
Moderator: Akash Chattopadhyay, University of Toronto

Life Cycle Models and Forecasting Growth and Profitability
Patrick Vorst, Indiana University Bloomington
Teri Lombardi Yohn, Indiana University Bloomington
Discussant: Donald Monk, Rutgers, The State University of New Jersey, New Brunswick

Beating a Random Walk
Peter Easton, University of Notre Dame
Peter Kelly, University of Notre Dame
Andreas Neuhierl, University of Notre Dame
Discussant: Akash Chattopadhyay, University of Toronto

Why Do Accruals Predict Earnings?
Robert J. Resutek, The University of Georgia
Jonathan Lewellen, Dartmouth College
Discussant: Salman Arif, University of Pennsylvania

Session 4.02: Securities Regulation - III
Accounting - 1.8 CH
Moderator: Suzie Noh, Massachusetts Institute of Technology

Corporate Subsidies and Political Contributions: State-Level Evidence

Daniel Aobdia, Northwestern University
Allison Koester, Georgetown University
Reining Petacchi, Georgetown University
Discussant: Laura Wellman, The University of Utah

Proprietary Costs, Agency Costs, and the Heterogeneity in the Economic Consequences of Mandatory Disclosure.
Ying Zhou, University of Connecticut
Discussant: Mark G. Maffett, The University of Chicago

The Burden of Being Public: Evidence from Local Labor Markets
Andrew Bird, Carnegie Mellon University
Stephen Adam Karolyi, Carnegie Mellon University
Thomas Ruchti, Carnegie Mellon University
Discussant: John Manuel Barrios, The University of Chicago

Session 4.03: Information and Credit Prices
Accounting - 1.8 CH
Moderator: Andrew Gordon Sutherland, Massachusetts Institute of Technology

Changes in Corporate Investment Policy Following the Inception of Credit Default Swap Trade
Hyun (Shana) A. Hong, University of California, Riverside Ji Woo Ryou, The University of Texas Rio Grande Valley
Anup Srivastava, Dartmouth College
Discussant: Aytekin Ertan, London Business School

Equity-Market Trading Restrictions and Credit Prices: Evidence from Short-Sale Constraints around the World

Mark G. Maffett, The University of Chicago
Edward Owens, Emory University
Discussant: Xiumin Martin, Washington University in St. Louis

Making Sense of Soft Information: Interpretation Bias and Ex-Post Lending Outcomes
Dennis Campbell, Harvard University
Maria Loumioti, The University of Texas at Dallas
Regina Wittenberg Moerman, University of Southern California
Discussant: Christine Cuny, New York University

Session 4.04: The Relation Between Earnings, Cash Flows, and Accruals
Accounting - 1.8 CH
Moderator: Ciao-Wei Chen, University of Illinois

The Changing Landscape of Accrual Accounting: Implications for Operating Cash Flow Predictability
Suresh Nallareddy, Duke University
Mani Sethuraman, Cornell University
Mohan Venkatachalam, Duke University
Discussant: Alina Lerman, Yale University

On the Relationship between Accruals and Cash Flows: Earnings as a Confounding Variable
Sok-Hyon Kang, George Washington University
Hyun Jong Na, George Washington University
Seunghee Yang, Seoul National University
Discussant: R. Christopher Small, University of Toronto

The Marginal Coefficient: A New Approach for Identifying Observation Level Sensitivities
Ruyun Feng, University of Maryland College Park
Oliver Kim, University of Maryland College Park
Michael Kimbrough, University of Maryland College Park
Discussant: P.J. Hoffman, Purdue University

Session 4.05: Bank Failures, Systemic Risk, and Financial Stability
Accounting - 1.8 CH
Moderator: Yadav Krishna Gopalan, Washington University in St. Louis

Inferring Management Quality at Banks from Accounting Data and its Role in Bank Failures
Prateek Sharma, Louisiana State University
Jung Eun “J. P.” Park, University of Nebraska at Omaha
Discussant: Yadav Krishna Gopalan, Washington University in St. Louis

Common Block Ownership in Banks and Systemic Risk
Michael Iselin, University of Minnesota, Minneapolis
Scott Liao, University of Toronto
Haiwen Zhang, The Ohio State University
Discussant: Jeffrey J. Burks, University of Notre Dame

Offsetable Derivative Exposures and Financial Stability
Jed Neilson, The Pennsylvania State University
Biqin Xie, The Pennsylvania State University
Christopher Williams, University of Michigan
K. Philip Wang, University of Florida
Discussant: Gauri Bhat, Southern Methodist University

Session 4.06: Intersections of Accounting and Finance
Accounting - 1.8 CH
Moderator: Eric So, Massachusetts Institute of Technology

Financing Decisions, Capital Expenditures, and the Effect of Favoritism
Lucile C. Faurel, Arizona State University
Mark T. Soliman, University of Southern California
Jessica C. Watkins, Indiana University Bloomington
Teri Lombardi Yohn, Indiana University Bloomington
Discussant: Asher Curtis, University of Washington

Public Short Campaigns: Information or Manipulation?
Danqi Hu, Northwestern University
Discussant: Ayung Tseng, Indiana University Bloomington

Why Are Aggregate Investing Activities Negatively Associated with Macroeconomic Outcomes?
Asher Curtis, University of Washington
Hyung il Oh, University of Washington, Bothell
Discussant: Zachary R. Kaplan, Washington University in St. Louis

Session 4.07: Disclosure
Accounting - 1.8 CH
Moderator: Keehea Moon, University of Washington

Geographic Peer Effects in Management Earnings Forecasts
Dawn Matsumoto, University of Washington
Matthew Serfling, The University of Tennessee
Sarah Shaikh, University of Washington
Discussant: Kristian Dietrich Allee, University of Arkansas

Institutional Cross-Ownership and Corporate Disclosure
Ashiq Ali, The University of Texas at Dallas
Zhongwen Fan, The University of Texas at Dallas
Ningzhong Li, The University of Texas at Dallas
Discussant: Stephen Adam Karolyi, Carnegie Mellon University

The Information Externality of Corporate Financial Information in the Secondary Municipal-Bond Market
Stephanie F. Cheng, University of Toronto
Discussant: Reining Petacchi, Georgetown University


3:30 pm - 4:00 pm Break

4:00 pm - 5:30 pm

Concurrent Sessions

Session 5.01: Analysts and Their Forecasts
Accounting - 1.8 CH
Moderator: John Donovan, University of Notre Dame

Filling in the GAAPs in Individual Analysts’ Street Earnings Forecasts
Brian Bratten, University of Kentucky
Stephannie A. Larocque, University of Notre Dame
Teri Lombardi Yohn, Indiana University Bloomington
Discussant: Philip B. Shane, College of William & Mary

Decision Fatigue and Heuristic Analyst Forecasts
David Hirshleifer, University of California, Irvine
Yaron Levi, University of Southern California
Ben Lourie, University of California, Irvine
Siew Hong Teoh, University of California, Irvine
Discussant: Michael B. Clement, The University of Texas at Austin

Quantifying the Effect of Information and Ability Spillovers on Analyst Earnings Forecast Accuracy
Estelle (Yuan) Sun, Boston University
Thaddeus Andrew Neururer, The University of Akron
Discussant: Cristi A. Gleason, The University of Iowa

Session 5.02: Credit Ratings
Accounting - 1.8 CH
Moderator: Raphael Duguay, The University of Chicago

Ratings Shopping in the Municipal Bond Market: Evidence from Ratings Recalibrations
Anne Beatty, The Ohio State University
Jacquelyn Gillette, Massachusetts Institute of Technology
Reining Petacchi, Georgetown University
Joseph P. Weber, Massachusetts Institute of Technology
Discussant: Stephen Adam Karolyi, Carnegie Mellon University

The Effect of Credit Ratings on Voluntary Disclosure
Riddha Sattam Basu, Northwestern University
James Patrick Naughton, Northwestern University
Clare Wang, The University of Iowa
Discussant: Andrew Gordon Sutherland, Massachusetts Institute of Technology

The Imprecision of Public Information and the Information Content of Credit Rating Changes

Christine Cuny, New York University
Ryan Ball, University of Michigan
Discussant: Thomas Ruchti, Carnegie Mellon University

Session 5.03: Earnings Management III
Accounting - 1.8 CH
Moderator: John Kepler, University of Pennsylvania

A Reputation for Beating Analysts’ Expectations and the Slippery Slope to Earnings Manipulation
Yu Wang, University of Houston
Patricia Dechow, University of California, Berkeley
Jenny Chu, University of Cambridge
Kai Wai Hui, The University of Hong Kong
Discussant: Ethan Rouen, Harvard University

Insider Trading Restrictions and Earnings Management
Beatriz Garcia Osma, Universidad Carlos III de Madrid
Elvira Scarlat, IE Business School
Karin Shields, Birkbeck, University of London
Discussant: John Kepler, University of Pennsylvania

Using Google Searches of Firm Products to Detect Revenue Management and Predict Firm Performance
Peng-Chia Chiu, The Chinese University of Hong Kong
Xuan Huang, The California State University, Long Beach
Yinglei Zhang, The Chinese University of Hong Kong
Siew Hong Teoh, University of California, Irvine
Discussant: Holly Yang, Singapore Management University

Session 5.04: Earnings Comparability
Accounting - 1.8 CH
Moderator: Aaron Roeschley, The University of Arizona

Consistency as a Path to Comparability: Benefits and Costs
Michael Iselin, University of Minnesota, Minneapolis
Gaoqing Zhang, University of Minnesota, Minneapolis
Vivian Fang, University of Minnesota
Discussant: Todd Kravet, University of Connecticut

Do Analyst Adjustments Affect Earnings Comparability?
Hakyin Lee, Hofstra University
Carol Marquardt, Baruch College-CUNY
Jangwon Suh, New York Institute of Technology
Discussant: Gus De Franco, Tulane University

Chief Accounting Officers on Top Management Teams and Financial Reporting Quality
Adrienne C. Rhodes, Texas A&M
Daniel Russomanno, The University of Arizona
Discussant: Dawn Matsumoto, University of Washington

Session 5.05: Executive Compensation
Accounting - 1.8 CH
Moderator: Robin Litjens, Tilburg University

Compensation Committee Attributes and the Treatment of Earnings in Incentive Pay
Mary Ellen Carter, Boston College
Luann J. Lynch, University of Virginia
Melissa Martin, University of Illinois at Chicago
Discussant: Michael Erkens, Erasmus University Rotterdam

Do Executive Compensation Contracts Maximize Firm Value? Evidence from a Quasi-Natural Experiment
Menachem (Meni) Abudy, Bar-Ilan University
Dan Amiram, Columbia University
Oded Rozenbaum, George Washington University
Efrat Shust, The College of Management Academic Studies
Discussant: Christoph Johann Sextroh, Tilburg University

Proxy Advisors’ Recipe for Compensation Analysis
Rafael Copat, Rice University
Discussant: Paige Harrington Patrick, University of Washington

Session 5.06: Bank Regulation
Accounting - 1.8 CH
Moderator: Anna V. Kleymenova, The University of Chicago

Hub-and-Spoke Regulation and Bank Leverage
Yadav Krishna Gopalan, Washington University in St. Louis
Ankit Kalda, Washington University in St. Louis
Asaf Manela, Washington University in St. Louis
Discussant: Anna V. Kleymenova, The University of Chicago

Regulatory Treatment of Changes in Fair Value and the Composition of Banks’ Investment Portfolios
Michael Iselin, University of Minnesota, Minneapolis
JungKoo Kang, University of Southern California
Joshua Madsen, University of Minnesota
Discussant: Yiwei Dou, New York University

The Death of a Regulator: Strict Supervision, Bank Lending, and Business Activity
Joao Granja, The University of Chicago
Christian Leuz, The University of Chicago
Discussant: Mark Kohlbeck, Florida Atlantic University

Session 5.07: Globalization and Domestic Institutions
Accounting - 1.8 CH
Moderator: Patricia L. Naranjo, Rice University

Through Thick and Thin: Political Risk and the Interdependencies Between MNCs and Host Countries
Jennifer L. Blouin, University of Pennsylvania
Clare Wang, The University of Iowa
Laura Wellman, The University of Utah
Discussant: Jonas Heese, Harvard University

Is the U.S. Unique? International Evidence on the Aggregate Earnings-Returns Association
Lindsey A. Gallo, University of Michigan
Rebecca Hann, University of Maryland College Park
Congcong Li, Singapore Management University
Viktoriya V. Zotova, University of Maryland College Park
Discussant: Patricia L. Naranjo, Rice University

Protecting the Giant Pandas: Newspaper Censorship of Negative News

Ole-Kristian Hope, University of Toronto
Han Wu, HEC Paris
Yi Li, Hunan University
Qiliang Liu, Huazhong University of Science and Technology
Discussant: Shunyao Jin, Michigan State University

 

Note: The CPE Fields of Study curriculum is divided into twenty subject matter areas. These fields represent the primary knowledge and skill areas needed by accounting licensees to perform professional services in all fields of employment. Each Credit Hour is based on 50 minutes. The Program Level for each of these sessions is Basic, unless otherwise stated. Delivery Method: Group Live

American Accounting Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

To register for this course, visit the Web site and register online or contact (941)-921-7747. For more information regarding refund, complaint and program cancellation policies, please contact our offices at (941)-921-7747

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