1,720,991 research outputs found
Corporate Social Responsibility Report Narratives and Analyst Forecast Accuracy
Get PDFStandalone corporate social responsibility (CSR) reports vary considerably in the content of information released due to their voluntary nature. In this study, we develop a disclosure score based on the tone, readability, length, and the numerical and horizon content of CSR report narratives, and examine the relationship between the CSR disclosure scores and analyst forecasts. We find that CSR reporters with high disclosure scores are associated with more accurate forecasts, whereas low score CSR reporters are not associated with more accurate forecasts than firms who do not issue CSR reports. The findings are robust to controlling for firm characteristics including CSR activity ratings and financial narratives. The findings are driven by experienced CSR reporters rather than first-time CSR reporters. Together, our findings suggest that the content of CSR reports helps to improve analyst forecast accuracy, and this relationship is more pronounced for CSR reports with more substantial content
Trust, family firms, and M&A quality
No full textThis paper examines the effect of trust on the quality of M&A across family and non-family firms. We find that family firms are associated with better M&A quality than non-family firms and that M&A deals involving high trust are of better quality. When we consider the association of trust, family firms and their interaction, we find that trust is the channel/mechanism through which family firms are associated with better M&A quality. Collectively, these results suggest that trust enables family firms to build long-term relationships with employees, suppliers and customers, and potentially mitigate the Type I agency problems
What's in a Name? Eponymous Private Firms and Financial Reporting Quality
No full textThis study examines the relation between financial reporting quality (FRQ) and eponymy, that is, naming a firm after the founder. We hypothesize that compared with noneponymous firms, eponymous firms have higher FRQ because of reputation concerns. Using a sample of 2,271 large Italian private firms, we document that eponymy is positively associated with accrual-based FRQ measures, a Benford’s law–based FRQ measure, and a tax-related misstatement–based FRQ measure. Consistent with the reputation concern rationale, we find that the positive association between eponymy and FRQ is attributable to eponymous firms that have rarer names or receive more press coverage. Furthermore, the positive association between FRQ and eponymy is similar whether the top executives/ board members belong to the founding family’s first or later generations. We also find that eponymous firms are more conditionally conservative. Collectively, the results suggest that reputation concerns act as a disciplining mechanism for FRQ in private firms
Uncertain Tax Benefits and the Persistence of Earnings
No full textI examine the relationship between uncertain tax benefit accruals (UTB accruals) and earnings
persistence. I posit that the two competing forces that make up UTB accruals could lead to no
relationship between UTB accruals and earnings persistence. Specifically, I argue that UTB
accruals could be informative about R&D and capital expenditure investments, and therefore,
UTB accruals could be positively related to earnings persistence. On the other hand, UTB
accruals could represent accrual errors – that is, the uncertainty of tax positions – and therefore,
UTB accruals could be negatively related to earnings persistence. Consistent with these two
competing forces, I find that the relationship between UTB accruals and earnings persistence is
non-linear. In particular, I find that the earnings persistence is the highest for firms with no UTB
accruals compared to those with non-zero UTB accruals – the tax positions do not involve
uncertainty, and therefore, earnings persistence is highest. I find that earnings persistence is
higher for large positive UTB accruals than large negative UTB accruals, suggesting that large
positive UTB accruals provide information on investments, while large negative UTB accruals
represent accrual estimation errors. Collectively, these findings show that UTB accruals exhibit
properties of both being informative and having accrual estimation errors, and thus, future
research should consider these properties separately when examining UTB accruals and
managerial opportunism
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
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