A5005982263- Auditing, Earnings Management, Governance
- Corporate Finance and Governance
- Law, Economics, and Judicial Systems
- Occupational and Professional Licensing Regulation
- Banking stability, regulation, efficiency
- Corruption and Economic Development
- Taxation and Compliance Studies
- FinTech, Crowdfunding, Digital Finance
- Pharmaceutical industry and healthcare
- Labor market dynamics and wage inequality
- Housing Market and Economics
- Legal and Constitutional Studies
- Economic Policies and Impacts
- Gender Diversity and Inequality
- Names, Identity, and Discrimination Research
- Private Equity and Venture Capital
- Economic Growth and Development
- Labor Movements and Unions
- Gender Politics and Representation
- Corporate Taxation and Avoidance
- Firm Innovation and Growth
- Intellectual Capital and Performance Analysis
- Higher Education Governance and Development
University of Mannheim
2018-2024
London School of Economics and Political Science
2020
ABSTRACT We examine the staggered adoption of additional educational requirements (“150‐hour rule”) for Certified Public Accountants (“CPAs”) to understand effects occupational licensing on minority participation in professional labor markets. The 150‐hour rule increased requirement CPAs from 120 150 credit hours, effectively adding a fifth year study. find 13% greater entry decline following requirement's enactment than nonminority CPA candidates. Our analyses parental income and financial...
Recent years have seen a stark decline in the share of business school undergraduates majoring accounting. We help explain this by empirically showing that technological development, and corporate software investment particular, is associated with lower employment wage growth for accounting graduates. This naturally lowers incentives to study college. Accounting majors technology minor fare better, while older workers worse, on average. Our evidence consistent recent theories technologies...
ABSTRACT We exploit the staggered introduction of CPA Mobility provisions in United States to study effects spatial licensing requirements on labor market for accounting professionals. Specifically, we examine whether removal licensing‐induced geographic barriers affects wages and employment levels, as well pricing quality professional services. find that, subsequent adoption provisions, professionals decrease, whereas levels are unaffected. The documented wage effect stems from smaller...
Using a dataset covering 3 million commercial borrower financial statements, we document substantial, nearly monotonic decline in banks' use of attested statements (AFS) lending over the past two decades. Two market forces help explain this trend. First, technological advances provide lenders with access to growing array information sources that can substitute for AFS. Second, banks are increasingly competing nonbank rely less on AFS screening and monitoring. Our results illustrate novel...
Audits by private, third-party auditors are frequently mandated to ensure compliance with regulations (e.g., accounting or environmental standards). We examine how such mandates shape the market for audits. In our empirical examination, we focus on one of oldest and most prominent audit markets, audits firms' financial accounting. Using novel data firms, — key players in , find that increase number audits, auditors, but decrease average auditor wages. These findings consistent creating...
We study the effects of pay history inquiry bans on employers’ offers and hiring practices. Using salary information online job postings, we find that posted decline after implementation bans. also some evidence number postings increases are more likely to include information. use census data new hires their earnings that, while there is a modest closing in gender disparity for hires, declines. Overall, early consistent with potential employers facing greater asymmetry, inferring adverse...
We study the influence of supervisors on employee misconduct at branches U.S. financial institutions. Individual supervisor fixed effects explain twice as much variation in branch firm effects. find similar evidence when we switching firms following mergers or closures that are unrelated to misconduct, indicating our results not spuriously generated by endogenous matching. Our concentrated theory suggests most likely delegate authority supervisors—firms with complex operations, distant...
ABSTRACT We study the influence of supervisors on employee misconduct at branches U.S. financial institutions. Individual supervisor fixed effects explain twice as much variation in branch firm effects. Supervisor is concentrated firms that theory suggests are most likely to delegate authority—firms with complex operations, distant branches, and trustworthy supervisors. Supervisors affect through their personnel decisions, attention employees past misbehavior, ethics industry rules training....
We examine the staggered adoption of additional educational requirements (“150-hour rule”) for Certified Professional Accountants (“CPAs”) to understand effects occupational licensing on minority participation in professional labor markets. The 150-hour rule increased requirement CPAs from 120 150 credit hours, effectively adding a fifth year study. find 13% greater entry decline following requirement’s enactment than nonminority CPA candidates. Our analyses parental income and financial aid...
We study the consequences of a 2010 change in investment adviser qualification exam that reallocated coverage from rules and ethics section to technical material section. Comparing advisers with same employer location year, we find those passing more are one-fourth less likely commit misconduct. The appears affect advisers’ perception acceptable conduct, not just their awareness specific or selection into qualification. Those ethics-focused depart employers experiencing scandals. Such...
I study whether mandatory peer review affects CPA entrepreneurship—that is, CPAs’ decisions to start, continue, or cease operating their own firms. In an effort promote service quality, firms have be reviewed by other meet licensing requirements. While this system is the main oversight mechanism for without public clients, little known about its consequences. exploit staggered introduction of mandates and, using a novel dataset based on licenses, find that entrepreneurship declines with...
We exploit the staggered introduction of CPA Mobility provisions in United States to study effects spatial licensing requirements on labor market for accounting professionals. Specifically, we examine whether removal licensing-induced geographic barriers affects wages and employment levels, as well pricing quality professional services. find that, subsequent adoption provisions, professionals decrease, whereas levels are unaffected. The documented wage effect stems from smaller firms, is...
We identify endogenously formed same-race audit pairings based on the estimated race of partners and auditee executives in nonprofit sector show that these occur at a significantly greater than random frequency. Using within auditor-year variation, we find audits have less frequent going-concern, material non-compliance, internal control weakness assessments, particularly for performed by auditors located high residential-racial-segregation areas. The association between financial distress...