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Author: Sheng-Syan Chen
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
We examine whether a firm's voluntary disclosures, proxied by management earnings forecasts, affect its innovation activity. A firm making more disclosures generates fewer patents and lower-quantity patents. Enactment of SOX is applied as a natural experiment for an exogenous shock to voluntary disclosure. Corporate innovation is reduced for accelerated filers, especially after SOX becomes effective. Nondedicated institutional ownership, R&D spillover, and rival firms' innovation are higher for accelerated filers after SOX. There is more of a negative effect of voluntary disclosure on innovation activity when product markets are highly competitive, industry information diffusion is speedy, and disclosures are more informative.
Author: Sheng-Syan Chen
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
We examine whether a firm's voluntary disclosures, proxied by management earnings forecasts, affect its innovation activity. A firm making more disclosures generates fewer patents and lower-quantity patents. Enactment of SOX is applied as a natural experiment for an exogenous shock to voluntary disclosure. Corporate innovation is reduced for accelerated filers, especially after SOX becomes effective. Nondedicated institutional ownership, R&D spillover, and rival firms' innovation are higher for accelerated filers after SOX. There is more of a negative effect of voluntary disclosure on innovation activity when product markets are highly competitive, industry information diffusion is speedy, and disclosures are more informative.
Author: Ziyao San
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This research consists of two parts. In the first part, I examine whether a firm whose chief executive officer (CEO) is more future-oriented (as measured by commitment to voluntary disclosure practices, i.e., issuing more frequent and more disaggregated earnings forecasts) is likely to be more successful in corporate innovation investment. Using a global sample of 26,364 firms from 27 countries and a single-country sample of 8,980 firms (domiciled in the US), I find that firms with more future-oriented CEO are granted more patents and receive more citations per patent. The results of additional cross-sectional analyses indicate that the relationship between commitments to voluntary disclosure and corporate innovation varies with various CEO-, firm-, and country-level factors. In the second part of this research, I investigate the role of CEOs personality traits in corporate innovation and in the association between commitment to voluntary disclosure and corporate innovation. I find that firms with more extraverted CEOs tend to be more successful in their innovation investment in the future and that the signaling role of commitment to voluntary disclosure in corporate innovation success is more pronounced in firms with more extraverted CEOs. My findings also indicate that voluntary disclosure by more extraverted CEOs attracts more investor attention. Collectively, the results of this research support the conjecture that future-oriented CEOs are likely to commit to voluntary disclosure practices to signal their ability to manage uncertainties associated with innovation investment and thereby achieve innovation success. Additionally, such signaling tends to be driven by more extraverted CEOs. This research should be important for the investors and other stakeholders, as it shows how the likelihood of firms future innovation success can be inferred from CEOs observable earnings forecasting behavior. The findings may also be of interest to firms, as they highlight the importance of considering candidates level of extraversion when hiring a CEO. Finally, the findings of this research should be helpful to policymakers who develop initiatives to enhance firms voluntary financial disclosure, because this research highlights how the effectiveness of management earnings forecasts in signaling corporate innovation success varies with country-level institutional characteristics.
Author: Bohui Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
A field of research that attracts increasing attention from scholars is the impact of the information environment on corporate innovation. In this article, I review the research from three points of view in relation to the information environment: (i) managers' voluntary disclosure, (ii) disclosure mandated by regulation, and (iii) information intermediaries (media and analysts). Research suggests that the information environment generally plays both positive and negative roles in corporate innovation by affecting effort and efficiency through different mechanisms. Finally, I put forward some suggestions on two aspects of future research directions of this field.
Author: Shiu-Yik Au
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
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Book Description
Consistent with theoretical models that show disclosure can reduce uncertain investments, we find that mandating risk disclosure is negatively associated with corporate innovation. Using a textual analysis of a large sample of 10-K filings for US firms, we identify a negative relationship between risk disclosure and firm-level investments in R&D and innovation output in terms of patents and citations. Furthermore, the channel for this decline seems to be linked to financial constraints, with risk disclosure having a larger impact on innovation among firms with financial constraints. These results suggest that a mandatory risk disclosure requirement can have unintended real consequences for firms making uncertain investments, such as innovation.
Author: Jason Zezhong Xiao
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper analyzes the factors behind Chinese listed companies' voluntary adoption of Internet-based financial reporting, as well as their extent of disclosure. Factors identified as being relevant to voluntary disclosure choices in the more advanced market economies are included. In addition, theories on innovation diffusion and voluntary disclosure are used to generate hypotheses about factors specific to the Chinese context, such as type of auditor, foreign listing, different classes of stock ownership, and government regulation. Findings from the largest 300 listed Chinese companies support the proposition that these firms' Internet-based disclosure choices are responsive to specific attributes of their environment. The implications of the findings for policy and research are delineated.
Author: Rim El Khoury
Publisher: Springer Nature
ISBN: 3031519973
Category : Business enterprises
Languages : en
Pages : 660
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Book Description
Zusammenfassung: This book aims to provide a comprehensive understanding of the interplay between technology and business and its implications for future growth and innovation. In today's rapidly changing world, technology plays a crucial role in shaping the business landscape. Advancements in artificial intelligence, blockchain, data analytics, and automation have revolutionized how organizations operate, compete, and achieve success. Understanding the profound impact of technology on business is vital for entrepreneurs, managers, policymakers, and academics alike. This book aims to explore the connection between technology and business, highlighting its importance in driving transformative changes across various industries. We welcome scholars, researchers, and practitioners to share their expertise and insights in this exciting endeavor. This book captures the essence of exploring the dynamic relationship between technology and business, emphasizing the potential for innovation and growth. It conveys the idea of embracing the transformative power of technology within the business realm and the opportunities it presents for unleashing new ideas and strategies. By delving into various aspects such as emerging technologies, business strategies, innovation, and ethical considerations, it aims to provide a comprehensive understanding of the symbiotic relationship between technology and business. It offers insights into the integration of technology into decision-making processes, the transformative impact on different industries, and strategies for leveraging technology to drive organizational growth and sustainability. Furthermore, the book highlights real-world case studies, explores emerging trends, and discusses the ethical and social implications of technology adoption in the business context. It serves as a valuable resource for entrepreneurs, managers, policymakers, academics, and anyone interested in understanding and harnessing the potential of technology for business success. This book aims to be a valuable resource for individuals interested in the transformative power of technology in the business realm. By compiling a collection of insightful chapters, it offers readers a diverse range of perspectives, frameworks, and case studies that shed light on the complexities and opportunities associated with technology-driven business environments
Author: Jennifer Francis
Publisher: Now Publishers Inc
ISBN: 1601981147
Category : Business & Economics
Languages : en
Pages : 97
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Book Description
This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Author: Irwan Trinugroho
Publisher: CRC Press
ISBN: 0429781830
Category : Business & Economics
Languages : en
Pages : 700
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Book Description
Business Innovation driven by the advancement of technology has dramatically changed the business landscape over recent years, not only in advanced countries but also in emerging markets. It is expected that business innovation could help achieve economic inclusion, which has been a global initiative over the last decade, creating opportunities for all people to benefit from the economic development. These proceedings provide an outlet for discussing the importance of business innovation, especially in emerging countries in helping to reach inclusive economies. The papers cover the subject areas management, accounting, finance, economics and social sciences.
Author: Jeffrey Neil Gordon
Publisher: Oxford University Press
ISBN: 0198743688
Category : Business & Economics
Languages : en
Pages : 1217
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Book Description
Corporate law and governance are at the forefront of regulatory activities worldwide, and subject to increasing public attention in the wake of the Global Financial Crisis. Comprehensively referencing the key debates, the Handbook provides a much-needed framework for understanding the aims and methods of legal research in the field.
Author: Zahirul Hoque
Publisher: Spiramus Press Ltd
ISBN: 1910151475
Category : Business & Economics
Languages : en
Pages : 687
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Book Description
What is my theory? How do I choose a theory? Why and how should I employ a particular method for collecting the empirical data? These basic questions concern everyone involved in research. A research study can be a voyage of discovering or choice of theoretical perspective as well as gathering empirics or facts on a problem or situation. This book provides a good guideline as to why and how to choose a particular theory or method to study an organisational phenomenon such as accounting. All the chapters provide both retrospective and contemporary views by scholars in the field. Each chapter documents the latest developments and research in accounting and control systems and provides valuable insights into methodological perspectives in accounting research. This second edition has also introduced a number of new chapters covering strategy-management control as practice, grounded theory approach, institutional logic and rhetoric, social interaction theory, actor-network theory and practice theory. The book is primarily intended for research students and academic researchers. It can also be used for undergraduate Honours course as well as postgraduate accounting and business methodology courses. Research organisations and consulting firms in accounting and business fields may also find this book useful. The principal aims of this second edition are (1) to update the chapters previously published in 2006 and (2) to introduce new chapters documenting recent developments in accounting research.
