A5037253227- Corporate Finance and Governance
- Auditing, Earnings Management, Governance
- Financial Markets and Investment Strategies
- Climate Change Policy and Economics
Stockholm School of Economics
2019-2023
We examine the effects of mandatory ESG reporting on firms' corporate performance. Using variation from Sweden's size-based regulation, which requires medium private firms to start information 2017 onward, we document that improves This finding is consistent with two nonmutually exclusive mechanisms: (1) disclosing enlarges opportunity set mandated enter larger supply chains, and (2) capital providers incorporate in their debt pricing decisions. In addition, disclosure dynamics both a...
The rise of index funds, or passive investing, in recent decades has caused heated debates over the efficacy investors' stewardship role corporate governance. Our study adds to this emerging line literature by examining whether investors enhance quality financial statement audits, a key aspect governance mechanisms. We exploit yearly Russell reassignment, which provides us with an ideal setting causal relation between institutional (i.e., trackers) and firms' audit quality. Examining firms...
Abstract This paper studies the mechanisms which motivate managers to engage in cheap talk and attract market's attention a credible way. We consider stock split announcements, voluntary earnings forecasts, press releases issued by firms media as proxies for managerial talk. show that: (a) performance‐related pay contracts incentivize executives attention; (b) analysts increase their coverage of following talk; (c) chief executive officers are punished attracting when market prices do not...
Download This Paper Open PDF in Browser Add to My Library Share: Permalink Using these links will ensure access this page indefinitely Copy URL Passive Investors and Audit Quality: Evidence from the U.S. Forthcoming European Accounting Review. 45 Pages Posted: 15 Oct 2022 See all articles by Ting DongTing DongStockholm School of EconomicsFlorian EugsterUniversity St. Gallen - Institute Accounting, Control Auditing; Swiss Finance InstituteAntonio B. VazquezUniversidad Carlos III de Madrid...