Financial Reporting Quality And Labor Investment Efficiency
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Financial Reporting Quality And Labor Investment Efficiency
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Author : Boochun Jung
language : en
Publisher:
Release Date : 2014
Financial Reporting Quality And Labor Investment Efficiency written by Boochun Jung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
We examine whether accounting quality is associated with efficient investments in labor. Consistent with high quality accounting mitigating market frictions that lead to sub-optimal levels of investment, we find evidence that abnormal net hiring (measured as the absolute deviation from net hiring predicted by economic fundamentals) is negatively associated with accounting quality. These results are robust to a battery of sensitivity tests and controls for other relevant factors, including labor power and other contemporaneous investments. We further examine the channels through which accounting quality improves net hiring efficiency and provide evidence that high quality accounting reduces both over-investment in labor (over-hiring and under-firing) and under-investment in labor (under-hiring and over-firing). We also show that the effect of accounting quality on net hiring efficiency is particularly strong in highly unionized industries. Finally, we also document that abnormal net hiring is costly, in that it is associated with lower future profitability. Overall, our results suggest that accounting quality improves the efficiency of investments in labor, a key factor of production, and contribute to the emerging literature on the effects of accounting on firms' investment decisions.
Financial Reporting Quality And Investment Efficiency
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Author : Rodrigo S. Verdi
language : en
Publisher:
Release Date : 2006
Financial Reporting Quality And Investment Efficiency written by Rodrigo S. Verdi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper studies the relation between financial reporting quality and investment efficiency on a sample of 38,062 firm-year observations between 1980 and 2003. Financial reporting quality has been posited to improve investment efficiency, but to date there has been little empirical evidence to support this claim. Consistent with this claim, I find that proxies for financial reporting quality are negatively associated with both firm underinvestment and overinvestment. The relation between financial reporting quality and underinvestment (overinvestment) is mainly driven by the innate (innate and discretionary) component of reporting quality. Further, financial reporting quality is more strongly associated with overinvestment for firms with large cash balances and dispersed ownership, which suggests that financial reporting quality mitigates information asymmetries arising from agency conflicts. However, I find mixed evidence for the hypothesis that financial reporting quality is more strongly associated with underinvestment for firms facing financing constraints. Finally, the relation between financial reporting quality and investment efficiency is stronger for firms with low quality information environments. Overall, this paper has implications for research examining the determinants of investment efficiency and the economic consequences of enhanced financial reporting.
Determining The Impact Of Multiple Consecutive Years Of Financial Reporting Quality Issues On Investment Efficiency
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Author : Amanda L. Wilford
language : en
Publisher:
Release Date : 2012
Determining The Impact Of Multiple Consecutive Years Of Financial Reporting Quality Issues On Investment Efficiency written by Amanda L. Wilford and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Corporate Reporting
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Author : G. K. Everingham
language : en
Publisher: Juta and Company Ltd
Release Date : 2004
Corporate Reporting written by G. K. Everingham and has been published by Juta and Company Ltd this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
Do Adoptions Of International Financial Reporting Standards Enhance Capital Investment Efficiency
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Author : Gary C. Biddle
language : en
Publisher:
Release Date : 2017
Do Adoptions Of International Financial Reporting Standards Enhance Capital Investment Efficiency written by Gary C. Biddle and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
We examine whether adoptions of International Financial Reporting Standards (IFRS) enhance capital investment efficiency as measured by investment-cash flow sensitivity and value-enhancing risk taking for a comprehensive sample comprised of 10,340 mandatory and voluntary IFRS adoptions across 26 countries during the pre-financial crisis period of 2001-08. Our results reveal a positive association between mandatory IFRS adoptions and capital investment efficiency. In contrast to prior findings for capital market effects, this association is stronger in countries with weaker legal protections, more concentrated ownership, and prior reporting standards that differ more from IFRS. These findings lend support to mandatory but not voluntary IFRS adoptions serving to enhance firm-level capital investment efficiency, particularly in countries with weaker investor protections that mitigate capital market effects, with implications for standards setters, regulators and research design.
Financial Reporting Quality Capital Allocation Efficiency And Financing Structure
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Author : Jialin Sun
language : en
Publisher:
Release Date : 2005
Financial Reporting Quality Capital Allocation Efficiency And Financing Structure written by Jialin Sun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Capital categories.
Essays On The Determinants And Effects Of Financial Reporting Quality
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Author : Ting Luo
language : en
Publisher:
Release Date : 2007
Essays On The Determinants And Effects Of Financial Reporting Quality written by Ting Luo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
How Does Financial Pressure Affect Firms
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Author : Stephen Nickell
language : en
Publisher:
Release Date : 1995
How Does Financial Pressure Affect Firms written by Stephen Nickell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business enterprises categories.
Labor Demand
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Author : Daniel S. Hamermesh
language : en
Publisher: Princeton University Press
Release Date : 1996-01-28
Labor Demand written by Daniel S. Hamermesh and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-01-28 with Business & Economics categories.
In this book Daniel Hamermesh provides the first comprehensive picture of the disparate field of labor demand. The author reviews both the static and dynamic theories of labor demand, and provides evaluative summaries of the available empirical research in these two subject areas. Moreover, he uses both theory and evidence to establish a generalized framework for analyzing the impact of policies such as minimum wages, payroll taxes, job- security measures, unemployment insurance, and others. Covering every aspect of labor demand, this book uses material from a wide range of countries.
Quality Financial Reporting
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Author : Miller
language : en
Publisher: Tata McGraw-Hill Education
Release Date : 2005-05
Quality Financial Reporting written by Miller and has been published by Tata McGraw-Hill Education this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-05 with categories.
Financial reports today have become hopelessly complex, and impossible for investors and other capital markets professionals to understand. This hurts everyone involved. Quality Financial Reporting outlines the rules for QFR, a financial reporting revolutionin which essential figures are reported clearly, truthfully, and in a language that everyone can understand.Quality Financial Reporting is groundbreaking in its theory, comprehensive in its presentation, and destined to become required reading for accountants and investors alike. A long-overdue recipe for change, it provides readers with:Strategies and techniques for adopting a QFR standard Relevant empirical research that supports QFR End-of-chapter evaluation checklists and questions