【讲座时间】2022年11月28日 13:30
【讲座地点】会计学院108室
【讲座主题】EDGAR Implementation, Unionization, and Strategic Disclosure
【嘉宾介绍】 程 林 ，中欧国际工商学院，会计学教授，金融学/会计学系系主任
程林教授是中欧国际工商学院会计学教授，金融学/会计学系系主任。他2012年毕业于美国俄亥俄州立大学并获得会计学及管理信息系统博士学位。在加入中欧国际工商学院之前，程林教授任教于美国亚利桑那大学Eller商学院，担任副教授并获终身教职。
现任Contemporary Accounting Research编辑委员会成员，并担任The Accounting Review、Contemporary Accounting Research、Review of Accounting Studies、Management Science、Review of Financial Studies等国际顶级期刊的特约审稿人。程林教授的研究领域主要集中在公司信息披露、债务契约、劳动经济学和审计学。他的多篇论文发表于The Accounting Review、Contemporary Accounting Research、Journal of Accounting and Economics等国际顶级学术期刊。
【内容提要】
Answering the call by Blankespoor et al. (2020) to study the effect of disclosure processing frictions on other stakeholders and decision contexts, this study examines how firms facing strong organized labor strategically respond to the implementation of the EDGAR system, which substantially reduced labor unions’ information processing costs. We find that these firms reduce the disaggregation in their financial statements, the likelihood and frequency of their voluntary management forecasts, and the proportion of forecasts that convey good news, consistent with incentives to maintain an information advantage and bargaining position with labor unions. These reductions are more pronounced for a subsample of firms with greater distance to the SEC reference rooms where paper-based filings were stored for public review before the implementation of EDGAR, firms with less educated employees, and firms with higher labor-related proprietary cost of disclosures. Our study is the first to investigate the implications of information processing costs to labor markets and to examine firms’ strategic disclosure responses to EDGAR implementation caused by concerns from other markets. It improves our understanding on the dynamic effects and real outcomes of shocks to disclosure processing costs beyond equity markets.
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