Annual Conference

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Accounting

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May 2015

What Determines Auditors' Career Outcomes?

Bin KE, Xianjie HE
Taking advantage of a unique data set from China about individual auditors’ personal backgrounds, we examine the factors that affect auditors’ demotion and promotion outcomes. We find that ability, accounting knowledge, and on-the-job performance all matter in auditors’ demotions and promotion...
Keywords: auditors, promotion, demotion, gender, China
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Commentaries

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2020, Pandemic

What Comes to Mind: Some Reflections on COVID-19

Yueran MA
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Senior Fellows/Fellows

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Senior Fellows/Fellows

War Discourse and Disaster Premia: 160 Years of Evidence from Stock and Bond Markets

David HIRSHLEIFER, Dat MAI, Kuntara PUKTHUANTHONG
Using a semi-supervised topic model on 7,000,000 New York Times articles spanning 160 years, we test whether topics of media discourse predict future stock and bond market returns to test rational and behavioral hypotheses about market valuation of disaster risk. Focusing on media discourse addresse...
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Visibility Bias in the Transmission of Consumption Beliefs and Undersaving

David HIRSHLEIFER, Bing HAN, Johan WALDEN
We study how bias in the social transmission process affects contagion of consumption beliefs and behavior. In the model, consumption is more salient than non-consumption. This visibility bias causes people to perceive that others are consuming heavily and have favorable information about future wea...
Keywords: Consumption behavior, Overconsumption, Visibility bias
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Value-Enhancing Effects of Female Independent Directors in Companies with Overconfident CEOs

Suman BANERJEE, Ronald W. MASULIS, Arun UPADHYAY
Little research exists on matching CEOs and directors. We find female independent directors (IDs) strengthen the benefits of overconfident (OC) CEOs. Female IDs reduce excess capital expenditures and less profitable acquisitions, increase R&D, and mitigate excessive risk taking. They impose grea...
Keywords: Female independent directors, Gender-diverse board, Directors’ death, Male independent directors, Bo
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