首页 > 最新文献

Journal of Accounting & Economics最新文献

英文 中文
The promises and pitfalls of mandated ownership transparency: A discussion of Amberger, Wilde, and Wu (2025) 强制性所有权透明度的承诺与陷阱：关于
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2025-07-12 DOI: 10.1016/j.jacceco.2025.101814
Thomas Rauter
Amberger, Wilde, and Wu (2025, AWW) examine the impact of EU beneficial ownership transparency (BOT) regulation on cross-border investment. They find that BOT is associated with reductions in investments from non-EU financial havens into the EU and that BOT unintentionally discourages legitimate investments without deterring illicit actors. My discussion evaluates AWW's evidence, positions the paper within the existing literature, and discusses its contributions. I particularly focus on challenges in measuring illicit activities and the impact of voluntary FDI data reporting by EU countries. I also assess how privacy concerns and recent legal decisions have shaped the evolving landscape of beneficial ownership mandates and how they may affect the public scrutiny mechanism going forward. To contextualize the paper's findings, I provide new survey evidence on private firms' disclosure practices and interview-based insights into the practical use of BOT registries. I conclude with suggestions for future research.
Amberger、Wilde和Wu （2025， AWW）研究了欧盟受益权透明度（BOT）法规对跨境投资的影响。他们发现，BOT与非欧盟金融天堂对欧盟的投资减少有关，并且BOT无意中阻碍了合法投资，而没有阻止非法行为者。我的讨论评估了AWW的证据，将论文置于现有文献中，并讨论了其贡献。我特别关注在衡量非法活动方面的挑战以及欧盟国家自愿报告外国直接投资数据的影响。我还评估了隐私问题和最近的法律决定如何塑造了受益所有权授权的演变格局，以及它们如何影响未来的公共监督机制。为了将本文的发现置于背景之下，我提供了关于私营企业披露实践的新调查证据，并对BOT注册的实际使用提供了基于访谈的见解。最后，我对未来的研究提出了建议。
{"title":"The promises and pitfalls of mandated ownership transparency: A discussion of Amberger, Wilde, and Wu (2025)","authors":"Thomas Rauter","doi":"10.1016/j.jacceco.2025.101814","DOIUrl":"10.1016/j.jacceco.2025.101814","url":null,"abstract":"<div><div>Amberger, Wilde, and Wu (2025, AWW) examine the impact of EU beneficial ownership transparency (BOT) regulation on cross-border investment. They find that BOT is associated with reductions in investments from non-EU financial havens into the EU and that BOT unintentionally discourages legitimate investments without deterring illicit actors. My discussion evaluates AWW's evidence, positions the paper within the existing literature, and discusses its contributions. I particularly focus on challenges in measuring illicit activities and the impact of voluntary FDI data reporting by EU countries. I also assess how privacy concerns and recent legal decisions have shaped the evolving landscape of beneficial ownership mandates and how they may affect the public scrutiny mechanism going forward. To contextualize the paper's findings, I provide new survey evidence on private firms' disclosure practices and interview-based insights into the practical use of BOT registries. I conclude with suggestions for future research.</div></div>","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101814"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144621771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Firms’ real and reporting response to taxation: A discussion 企业对税收的真实反应和报告反应：讨论
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2025-10-11 DOI: 10.1016/j.jacceco.2025.101836
Jennifer Blouin
This discussion reflects my thoughts on Lester and Olbert's (2025) review of the tax literature. I address the notion of “real” effects in tax work and the reliance by Lester and Olbert (2025) on the Hall and Jorgenson (1967) neoclassical framework. I intend to complement the review by discussing some of the competitive advantages of accounting researchers working in taxation. I close by emphasizing some areas where accountants can potentially be the most impactful on tax research and listing some of my hopes for the future of this work.
这个讨论反映了我对莱斯特和奥尔伯特（2025）审查税收文献的想法。我讨论了税收工作中“真实”影响的概念，以及莱斯特和奥尔伯特（2025）对霍尔和乔根森（1967）新古典主义框架的依赖。我打算通过讨论从事税务工作的会计研究人员的一些竞争优势来补充审查。最后，我强调了会计师可能对税务研究最有影响的一些领域，并列出了我对这项工作未来的一些希望。
{"title":"Firms’ real and reporting response to taxation: A discussion","authors":"Jennifer Blouin","doi":"10.1016/j.jacceco.2025.101836","DOIUrl":"10.1016/j.jacceco.2025.101836","url":null,"abstract":"<div><div>This discussion reflects my thoughts on Lester and Olbert's (2025) review of the tax literature. I address the notion of “real” effects in tax work and the reliance by Lester and Olbert (2025) on the Hall and Jorgenson (1967) neoclassical framework. I intend to complement the review by discussing some of the competitive advantages of accounting researchers working in taxation. I close by emphasizing some areas where accountants can potentially be the most impactful on tax research and listing some of my hopes for the future of this work.</div></div>","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101836"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145411993","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Estimating profitability decomposition frameworks via machine learning: Implications for earnings forecasting and financial statement analysis 通过机器学习估计盈利能力分解框架：对盈利预测和财务报表分析的影响
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2025-06-21 DOI: 10.1016/j.jacceco.2025.101805
Oliver Binz , Katherine Schipper , Kevin R. Standridge
We find that nonlinear estimation of profitability decomposition frameworks yields more accurate out-of-sample profitability forecasts than forecasts from both a random walk and linear estimation. The improvements derive from nonlinear estimation and synergies between nonlinear estimation and profitability decomposition frameworks. We analyze three essential financial statement analysis design choices to provide insights for the practice of fundamental analysis and find robust evidence that higher levels of profitability decomposition, focusing on core items, and using up to three years of historical information improve forecast accuracy. We find that our forecasts predict returns and profitability changes before and after controlling for analyst forecasts and common asset pricing factors.
我们发现盈利能力分解框架的非线性估计比随机漫步和线性估计的预测产生更准确的样本外盈利能力预测。改进源于非线性估计和非线性估计与盈利能力分解框架之间的协同作用。我们分析了三个基本的财务报表分析设计选择，为基本分析的实践提供见解，并找到强有力的证据，证明更高水平的盈利能力分解，关注核心项目，使用长达三年的历史信息可以提高预测的准确性。我们发现，在控制了分析师预测和常见资产定价因素之后，我们的预测预测了收益和盈利能力的变化。
{"title":"Estimating profitability decomposition frameworks via machine learning: Implications for earnings forecasting and financial statement analysis","authors":"Oliver Binz ,&nbsp;Katherine Schipper ,&nbsp;Kevin R. Standridge","doi":"10.1016/j.jacceco.2025.101805","DOIUrl":"10.1016/j.jacceco.2025.101805","url":null,"abstract":"<div><div>We find that nonlinear estimation of profitability decomposition frameworks yields more accurate out-of-sample profitability forecasts than forecasts from both a random walk and linear estimation. The improvements derive from nonlinear estimation and synergies between nonlinear estimation and profitability decomposition frameworks. We analyze three essential financial statement analysis design choices to provide insights for the practice of fundamental analysis and find robust evidence that higher levels of profitability decomposition, focusing on core items, and using up to three years of historical information improve forecast accuracy. We find that our forecasts predict returns and profitability changes before and after controlling for analyst forecasts and common asset pricing factors.</div></div>","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101805"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144337782","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Do major corporate customers deter supplier misconduct? 大公司客户是否能阻止供应商的不当行为？
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2025-05-14 DOI: 10.1016/j.jacceco.2025.101801
Jie Chen , Xunhua Su , Xuan Tian , Bin Xu , Luo Zuo
We examine whether major corporate customers can deter misconduct among their suppliers. Our findings indicate that firms with concentrated customer bases are less likely to commit misconduct and face lower penalties in equilibrium. We also observe a significant decline in supplier misconduct following the establishment of a major customer relationship. Furthermore, the deterrent effect of major customers is more pronounced when customer pressure to reduce supplier misconduct risk is higher. Additional analyses suggest that major customers exercise their exit option to penalize suppliers after acute violations. Overall, our results suggest that major customers play a crucial role in deterring supplier misconduct.
我们研究大公司客户是否可以阻止其供应商的不当行为。我们的研究结果表明，客户基础集中的公司不太可能犯下不当行为，并且在均衡中面临较低的惩罚。我们还观察到，在建立主要客户关系后，供应商不当行为显著减少。此外，当客户要求降低供应商不当行为风险的压力越大时，大客户的威慑作用越明显。其他分析表明，在严重违规后，主要客户会行使退出选择权来惩罚供应商。总体而言，我们的研究结果表明，大客户在阻止供应商不当行为方面发挥着至关重要的作用。
{"title":"Do major corporate customers deter supplier misconduct?","authors":"Jie Chen ,&nbsp;Xunhua Su ,&nbsp;Xuan Tian ,&nbsp;Bin Xu ,&nbsp;Luo Zuo","doi":"10.1016/j.jacceco.2025.101801","DOIUrl":"10.1016/j.jacceco.2025.101801","url":null,"abstract":"<div><div>We examine whether major corporate customers can deter misconduct among their suppliers. Our findings indicate that firms with concentrated customer bases are less likely to commit misconduct and face lower penalties in equilibrium. We also observe a significant decline in supplier misconduct following the establishment of a major customer relationship. Furthermore, the deterrent effect of major customers is more pronounced when customer pressure to reduce supplier misconduct risk is higher. Additional analyses suggest that major customers exercise their exit option to penalize suppliers after acute violations. Overall, our results suggest that major customers play a crucial role in deterring supplier misconduct.</div></div>","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101801"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144133753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Reflections on the founding of The Journal of Accounting and Economics 《会计与经济》杂志创刊的思考
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2024-12-10 DOI: 10.1016/j.jacceco.2024.101762
Jerold L. Zimmerman
{"title":"Reflections on the founding of The Journal of Accounting and Economics","authors":"Jerold L. Zimmerman","doi":"10.1016/j.jacceco.2024.101762","DOIUrl":"10.1016/j.jacceco.2024.101762","url":null,"abstract":"","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101762"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142874776","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Real effects of lagged guidance from prudential regulators on CECL 审慎监管机构滞后指导对CECL的实际影响
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2025-07-04 DOI: 10.1016/j.jacceco.2025.101808
Riddha Basu , Sugata Roychowdhury , Kirti Sinha
We examine the impact of lagged guidance from prudential regulators on new accounting standards in the context of the Current Expected Credit Loss (CECL) standard. We refer to the period following CECL's 2016 pronouncement but prior to the 2018 guidance from prudential banking regulators on the standard as the lagged guidance (LG) period. We find that during the LG period, banks reduce loan amounts and increase loan spreads for affected loans (Term Loan As, or TLAs) relative to unaffected loans (Term Loan Bs, or TLBs). Following the 2018 regulatory guidelines, however, banks increase loan amounts and reduce loan spreads on TLAs relative to TLBs. The stricter TLA terms during the LG period coincide with decreased investments by corporate borrowers dependent exclusively on TLAs, especially those that borrow frequently and are financially constrained. The results indicate that delayed guidance from industry regulators on CECL had spillover effects in the economy.
在当前预期信用损失（CECL）标准的背景下，我们研究了审慎监管机构对新会计准则的滞后指导的影响。我们将CECL 2016年声明之后，但在审慎银行监管机构2018年对该标准的指导之前的时期称为滞后指导（LG）期。我们发现，在LG期间，相对于未受影响的贷款（定期贷款b，或tlb），银行减少了受影响贷款（定期贷款a，或tla）的贷款金额，并增加了贷款息差。然而，根据2018年的监管指导方针，银行增加了tla的贷款金额，并缩小了相对于tlb的贷款息差。在LG期间，严格的TLA条款与完全依赖TLA的公司借款人的投资减少相吻合，特别是那些经常借款且财务拮据的公司。研究结果表明，行业监管机构对CECL的延迟指导在经济中具有溢出效应。
{"title":"Real effects of lagged guidance from prudential regulators on CECL","authors":"Riddha Basu ,&nbsp;Sugata Roychowdhury ,&nbsp;Kirti Sinha","doi":"10.1016/j.jacceco.2025.101808","DOIUrl":"10.1016/j.jacceco.2025.101808","url":null,"abstract":"<div><div>We examine the impact of lagged guidance from prudential regulators on new accounting standards in the context of the Current Expected Credit Loss (CECL) standard. We refer to the period following CECL's 2016 pronouncement but prior to the 2018 guidance from prudential banking regulators on the standard as the lagged guidance (<em>LG)</em> period. We find that during the <em>LG</em><span> period, banks reduce loan amounts and increase loan spreads for affected loans (Term Loan As, or TLAs) relative to unaffected loans (Term Loan Bs, or TLBs). Following the 2018 regulatory guidelines, however, banks increase loan amounts and reduce loan spreads on TLAs relative to TLBs. The stricter TLA terms during the </span><em>LG</em><span><span> period coincide with decreased investments by corporate borrowers dependent exclusively on TLAs, especially those that borrow frequently and are financially constrained. The results indicate that delayed guidance from industry regulators on CECL had </span>spillover effects in the economy.</span></div></div>","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101808"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144621831","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Acknowledgement 确认
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2025-11-07 DOI: 10.1016/j.jacceco.2025.101841
{"title":"Acknowledgement","authors":"","doi":"10.1016/j.jacceco.2025.101841","DOIUrl":"10.1016/j.jacceco.2025.101841","url":null,"abstract":"","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101841"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145472942","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Trading of emission allowances and reporting incentives 排放配额交易和报告激励措施
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2025-06-14 DOI: 10.1016/j.jacceco.2025.101804
Donald N'Gatta , Gaizka Ormazabal , Robert Raney
This paper examines the role of reporting incentives on the trading of emission allowances. Our tests are based on a wide international sample of firms and data from the European Union Emission Trading System (EU ETS), which is the most liquid and developed in the world. We find evidence consistent with the notion that excess allowances combined with historical cost accounting for emission rights provide firms the opportunity to obtain a reporting benefit from selling emission allowances. We observe more frequent selling of allowances when the transactions are likely to boost earnings to avoid accounting losses. The documented trading activity increases in the ETS market towards the end of the year and is associated with selling imbalance and effects on carbon pricing, which in turn affect firms’ emission abatement incentives. Our results have implications for the debate on the institutional design of carbon markets and on the need to define an accounting standard for emission allowances.
本文考察了报告激励机制在排放配额交易中的作用。我们的测试基于广泛的国际公司样本和欧盟排放交易系统（EU ETS）的数据，这是世界上最具流动性和最发达的。我们发现的证据与以下观点一致：超额排放配额与排放权的历史成本会计相结合，为企业提供了从出售排放配额中获得报告收益的机会。我们观察到，当交易可能会增加收益以避免会计损失时，更频繁地出售配额。记录在案的交易活动在年底前在ETS市场上增加，这与销售不平衡和对碳定价的影响有关，这反过来影响了企业的减排激励。我们的研究结果对碳市场的制度设计和确定排放配额会计标准的必要性的辩论具有启示意义。
{"title":"Trading of emission allowances and reporting incentives","authors":"Donald N'Gatta ,&nbsp;Gaizka Ormazabal ,&nbsp;Robert Raney","doi":"10.1016/j.jacceco.2025.101804","DOIUrl":"10.1016/j.jacceco.2025.101804","url":null,"abstract":"<div><div>This paper examines the role of reporting incentives on the trading of emission allowances. Our tests are based on a wide international sample of firms and data from the European Union Emission Trading System (EU ETS), which is the most liquid and developed in the world. We find evidence consistent with the notion that excess allowances combined with historical cost accounting for emission rights provide firms the opportunity to obtain a reporting benefit from selling emission allowances. We observe more frequent selling of allowances when the transactions are likely to boost earnings to avoid accounting losses. The documented trading activity increases in the ETS market towards the end of the year and is associated with selling imbalance and effects on carbon pricing, which in turn affect firms’ emission abatement incentives. Our results have implications for the debate on the institutional design of carbon markets and on the need to define an accounting standard for emission allowances.</div></div>","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101804"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144304680","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Complexities in utilizing the patent pilot program as shock to judicial efficiency felt by firms 利用专利试点计划的复杂性对企业的司法效率造成冲击
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-11-01 Epub Date: 2025-07-14 DOI: 10.1016/j.jacceco.2025.101812
Melissa F. Wasserman
The paper by Kim, Shi, and Verdi (2025) examines how judicial efficiency—as defined by the court’s ability to resolve patent cases quickly and in a manner that is mutually agreeable to both parties in the lawsuit—affects the incentives of corporations to innovate. The authors utilize the Patent Pilot Program (PPP), which routed patent cases to PPP-designated judges in select districts to facilitate efficient rulings, as a shock to judicial efficiency. The authors find that firms headquartered in counties subject to the PPP increase patent-based innovation by 6.1 %–6.9 %, relative to firms in counties not under the program. However, there are aspects of patent litigation that complicate the ability to neatly divide firms into treated (those who feel the effects of increased judicial efficiency associated with PPP districts) and non-treated (those that do not). The difficulty in identifying treated and untreated firms confounds the ability to interpret the increase in patent-based innovation incentives for firms headquartered in PPP judicial districts.
Kim、Shi和Verdi（2025）的论文考察了司法效率——法院快速解决专利案件的能力，以及以诉讼双方都同意的方式解决专利案件的能力——如何影响企业创新的激励。作者利用专利试点计划（PPP）对司法效率进行冲击，该计划将专利案件交由特定地区的PPP指定法官审理，以促进高效裁决。作者发现，与未实施PPP的县的企业相比，总部设在实施PPP的县的企业基于专利的创新增加了6.1% - 6.9%。然而，专利诉讼的某些方面使将公司划分为受待遇公司（那些感受到与PPP地区相关的司法效率提高的影响的公司）和未受待遇公司（那些没有）的能力复杂化。识别接受治疗和未接受治疗的公司的困难，混淆了解释总部设在公私合作司法辖区的公司基于专利的创新激励增加的能力。
{"title":"Complexities in utilizing the patent pilot program as shock to judicial efficiency felt by firms","authors":"Melissa F. Wasserman","doi":"10.1016/j.jacceco.2025.101812","DOIUrl":"10.1016/j.jacceco.2025.101812","url":null,"abstract":"<div><div>The paper by Kim, Shi, and Verdi (2025) examines how judicial efficiency—as defined by the court’s ability to resolve patent cases quickly and in a manner that is mutually agreeable to both parties in the lawsuit—affects the incentives of corporations to innovate. The authors utilize the Patent Pilot Program (PPP), which routed patent cases to PPP-designated judges in select districts to facilitate efficient rulings, as a shock to judicial efficiency. The authors find that firms headquartered in counties subject to the PPP increase patent-based innovation by 6.1 %–6.9 %, relative to firms in counties not under the program. However, there are aspects of patent litigation that complicate the ability to neatly divide firms into treated (those who feel the effects of increased judicial efficiency associated with PPP districts) and non-treated (those that do not). The difficulty in identifying treated and untreated firms confounds the ability to interpret the increase in patent-based innovation incentives for firms headquartered in PPP judicial districts.</div></div>","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 2","pages":"Article 101812"},"PeriodicalIF":6.8,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144664741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Partisan regulatory actions: Evidence from the SEC 党派监管行动：来自美国证券交易委员会的证据
IF 6.8 1区 管理学 Q1 BUSINESS, FINANCE
Journal of Accounting & Economics
Pub Date : 2025-08-01 Epub Date: 2025-02-18 DOI: 10.1016/j.jacceco.2025.101777
Vivek Pandey, Xingyu Shen, Joanna Shuang Wu
We study the influence of political partisanship in SEC investigations and AAER enforcement actions against financial misconduct. We find that the SEC is more likely to launch an investigation against a firm that is misaligned with the agency’s political ideology than other firms. The likelihood of an AAER appears unaffected by political misalignment, but once named in an AAER, a misaligned firm faces harsher penalties than other firms. We find evidence that collectively points to potential misallocation of scarce enforcement resources due to partisanship: conditional on investigation, misaligned firms are less likely to receive an enforcement action, and conditional on misreporting, non-misaligned firms are less likely to be investigated.
我们研究了政治党派关系在SEC调查和aer针对金融不当行为的执法行动中的影响。我们发现，与其他公司相比，美国证券交易委员会更有可能对与该机构政治意识形态不一致的公司发起调查。aer的可能性似乎不受政治偏差的影响，但一旦在aer中被点名，一个不一致的公司将面临比其他公司更严厉的惩罚。我们发现，有证据表明，由于党派关系，稀缺的执法资源可能存在分配不当：以调查为条件，不一致的公司不太可能受到执法行动，以误报为条件，未不一致的公司不太可能被调查。
{"title":"Partisan regulatory actions: Evidence from the SEC","authors":"Vivek Pandey,&nbsp;Xingyu Shen,&nbsp;Joanna Shuang Wu","doi":"10.1016/j.jacceco.2025.101777","DOIUrl":"10.1016/j.jacceco.2025.101777","url":null,"abstract":"<div><div>We study the influence of political partisanship in SEC investigations and AAER enforcement actions against financial misconduct. We find that the SEC is more likely to launch an investigation against a firm that is misaligned with the agency’s political ideology than other firms. The likelihood of an AAER appears unaffected by political misalignment, but once named in an AAER, a misaligned firm faces harsher penalties than other firms. We find evidence that collectively points to potential misallocation of scarce enforcement resources due to partisanship: conditional on investigation, misaligned firms are less likely to receive an enforcement action, and conditional on misreporting, non-misaligned firms are less likely to be investigated.</div></div>","PeriodicalId":48438,"journal":{"name":"Journal of Accounting & Economics","volume":"80 1","pages":"Article 101777"},"PeriodicalIF":6.8,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143477811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
类型
全部 化学•材料 生命科学 医学 物理 工程技术 环境•农林 材料科学 地球科学 法学 管理学 化学 环境科学与生态学 计算机科学 教育学 经济学 农林科学 人文科学 生物学 数学 物理与天体物理 心理学 综合性期刊 其他 工业工程 理学 历史学 农学 文学 信息工程
数据库
全部 ACS Publications Elsevier ieeexplore Springer The Royal Society of Chemistry Wiley
期刊
Journal of Accounting & Economics
全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.
﹀
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们：info@booksci.cn
Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1