This paper examines the impact of financial misconduct announcements on import penetration. We find that industry-level import penetration increases significantly following such announcements by regulators.

1、如何更好理解中国的改革与制度变革？ 2、学术研究如何有用还有趣？ 3、学术研究之外，还有哪些是科研工作者的兴趣？

The transition in banks’ loan loss accounting from the incurred loss model to the expected loss model (CECL) requires a forward-looking approach to estimating credit losses over the lifetime of loans.

Usinga near-universe sample of job postings from 2010 to 2020, we find thatmanagers disclose good news of job demand before insider trading so thatthey could sell securities in higher price immediately following thedisclosure.

The negative association between pre-financing price run-ups and post-financingprice drift-downs is well documented in the literature. We find that firms experiencingpre-financing run-ups and firms experiencing post-financing long-termunderperformance may not always be the same firms. The firms with

Dr. Wei is an Associate Professor of Accounting and Union PacificResearch Fellow at Creighton University, which is located in Omaha, NE.Dr. Wei earned her Ph.D. in Accounting from the University of Maryland –College Park in May 2017. At Creighton, Dr. Weicurrently teaches undergraduate accounting an

TJ is a professor at the University of Southern California Marshall School of Business. His research focuses on the institutions and corporate governance of listed firms in emerging markets. He has served as editor for The Accounting Review, associate editor for Management Science and editorial boar

Using US firm-level data, we document significant differences in pollution abatement activities over the life cycle of firms. Under financial constraints, smaller and younger firms invest more in capital and engage less in pollution abatement; as they accumulate more net worth, their abatement activ

ESG-linked compensation policies propagate through common directors, impacting firm-level environmental innovation performance. Using a sample of U.S. listed firms during 2002-2020, we show that a firm is 2.7% more likely to implement ESG-pay policy if its board-connected peers have adopted it. This

A firm’s decision to initiate Scope 3 emissions disclosure not only reflects the firm’s sustainability efforts but also signals its commitment to decarbonization, fostering collaboration among suppliers in promoting greener supply chains.

There is a wide-spread concern that investment funds use the claim of ESG investing to attract investment flows without making real ESG-oriented investments. Exploiting the establishment of the SEC’s Climate and ESG Task Force (Task Force hereafter) as a plausible exogenous shock to regulatory overs

Based on a sample of the listed 1,456 Chinese State-owned Enterprises (SOEs) with 33,242 firm-year observations spanning the years 2010 to 2023, by manually tracking top executives’ (Chairmen and CEOs) subsequent employment records, we have found that their past ESG performance facilitates their fut