Besides hostile intervention, activist shareholders aiming to make changes in target firms also use more friendly approaches such as communicating with the firm management. Managers can strategically influence activist shareholders’ perception about the firm and therefore their choice of engage

This paper investigates whether employees care about their employer’s internal control process. We find that those who currently work for firms with internal control deficiencies experience less job satisfaction. Specifically, this effect is stronger among workers who are more sensitive to internal

s art a safe haven in times of political or financial crisis? We trace the long-term performance of the UK art market during world wars, economic recessions, financial crises, inflationary periods, and changes in monetary policy. We digitalized historical auction archives to construct art price indi

【讲座时间】2023年6月3日 9:00 【讲座地点】会计学院108室【讲座主题】会计研究中的跨学科多维思考【嘉宾介绍】支晓强，中国人民大学商学院教授中国人民大学杰出学者特聘教授、财务处处长。先后入选财政部全国会计领军人才、全国会计领军人才培养工程特殊支持计划、会计名家培养工程。兼任全国会计专业学位研究生教育指导委员会秘书长等。曾多次获得国家级教学成果奖、中国人民大学十大教学标兵等。首批国家级一流本科课程负责人，北京市高等教育教学名师。主持国家自然科学基金等课题。在《管理世界》《会计研究》《金融研究》等期刊发表论文多篇。

We analyze whether regulatory comment letters (CLs) negatively affect corporate bond issuance and connected investors’ participation in the issuance could mitigate the CLs’ negative impact. Using a hand-collected dataset of CLs issued by China’s bond market regulator prior to the bond ssuance, we fi

We hypothesize that customer base concentration (CC) is a source of operational inflexibility that impedes firms’ capital investment and thus reduces their ability to exploit real options. Supporting this hypothesis, we empirically document a negative relation between CC and the responsiveness of ca

Due to the rise of machine learning and big data, people analytics is expected to disrupt the human capital management profession. However, due to the proprietary nature of human capital management, there is little empirical research on the benefits and costs of adopting people analytics in practice

We show that U.S. firms cut imports by 11.1% and are 4.2% more likely to terminate a trade relationship when their international suppliers experience environmental and social (E&S) incidents. These trade cuts are larger for publicly-listed U.S. importers facing high E&S investor pressure and lead to

We examine whether and how the introduction of an internationally credible audit regulatory oversight affects a firm’s debt concentration level in a cross-country setting. For a sample of non-US-listed companies across 45 countries, we observe a significant decrease in a firm’s debt concentration af

Information about firms' research and development (R&D) activities is considered proprietary and is rarely disclosed. This study examines firms' R&D activities through a new information source – R&D job posting. Using the detailed textual information in job postings to identify R&D positions, w

This study examines whether and when credit ratings are useful for accounting fraud prediction. We find that negative rating actions by Standard & Poor’s (S&P), an issuer-paid credit rating agency (CRA), have predictive ability for frauds incremental to fraud prediction models (e.g., Fscore) and oth

Exploiting the staggered implementation of mandatory non-financial reporting requirements worldwide with a difference-in-differences design, we find that green innovations, measured by green patents and green patent citations, increase significantly post-mandate introduction. This effect is stronger