Appendix F — References
Abel, A.B., Mishkin, F.S., 1983. On the econometric testing of
rationality-market efficiency. The Review of Economics and Statistics
65, 318–323. https://doi.org/10.2307/1924498
Aboody, D., Barth, M.E., Kasznik, R., 2004. Firms’ voluntary recognition
of stock-based compensation expense. Journal of Accounting Research 42,
123–150. https://doi.org/10.1111/j.1475-679X.2004.00132.x
Adams, C.P., 2020. Learning microeconometrics with R,
Chapman & Hall/CRC The R Series. CRC Press. https://doi.org/10.1201/9780429288333
Adler, J., 2012. R in a nutshell, In a nutshell. O’Reilly Media,
Incorporated.
Ahern, K.R., Dittmar, A.K., 2012. The changing of the boards:
The impact on firm valuation of mandated female board
representation. The Quarterly Journal of Economics 127, 137–197. https://doi.org/10.1093/qje/qjr049
Akobeng, A.K., 2005. Understanding randomised controlled trials.
Archives of Disease in Childhood 90, 840–844. https://doi.org/10.1136/adc.2004.058222
Alexander, G.J., Peterson, M.A., 2008. The effect of price tests on
trader behavior and market quality: An analysis of Reg SHO.
Journal of Financial Markets 11, 84–111. https://doi.org/10.1016/j.finmar.2007.06.002
Amihud, Y., 2002. Illiquidity and stock returns: Cross-section and
time-series effects. Journal of Financial Markets 5, 31–56. https://doi.org/10.1016/s1386-4181(01)00024-6
Angrist, J.D., 1990. Lifetime earnings and the Vietnam era
draft lottery: Evidence from Social Security administrative
records. American Economic Review 80, 313–336.
Angrist, J.D., Pischke, J.-S., 2014. Mastering ’metrics: The path from
cause to effect. Princeton University Press.
Angrist, J.D., Pischke, J.-S., 2010. The credibility revolution in
empirical economics: How better research design is taking the con out of
econometrics. Journal of Economic Perspectives 24, 3–30. https://doi.org/10.1257/jep.24.2.3
Angrist, J.D., Pischke, J.-S., 2008. Mostly harmless econometrics: An
empiricist’s companion. Princeton University Press.
Appel, I.R., Gormley, T.A., Keim, D.B., 2024. Identification using
Russell 1000/2000 index assignments: A discussion of
methodologies. Critical Finance Review 13, 151–224. https://doi.org/10.1561/104.00000139
Armstrong, C., Kepler, J.D., Samuels, D., Taylor, D., 2022. Causality
redux: The evolution of empirical methods in accounting research and the
growth of quasi-experiments. Journal of Accounting and Economics 74,
101521. https://doi.org/https://doi.org/10.1016/j.jacceco.2022.101521
Armstrong, C.S., Core, J.E., Guay, W.R., 2014. Do independent directors
cause improvements in firm transparency? Journal of Financial Economics
113, 383–403. https://doi.org/10.1016/j.jfineco.2014.05.009
Armstrong, C.S., Gow, I.D., Larcker, D.F., 2013. The efficacy of
shareholder voting: Evidence from equity compensation plans. Journal of
Accounting Research 51, 909–950. https://doi.org/10.1111/1475-679X.12023
Aronow, P.M., Miller, B.T., 2019. Foundations of agnostic statistics.
Cambridge University Press. https://doi.org/10.1017/9781316831762
Ball, R., Brown, P., 2019. Ball and Brown
(1968) after fifty years. Pacific-Basin Finance Journal 53, 410–431. https://doi.org/10.1016/j.pacfin.2018.12.008
Ball, R., Brown, P., 1968. An empirical evaluation of accounting income
numbers. Journal of Accounting Research 6, 159–178. https://doi.org/10.2307/2490232
Ball, R., Kothari, S.P., Nikolaev, V.V., 2013. Econometrics of the
Basu asymmetric timeliness coefficient and accounting
conservatism. Journal of Accounting Research 51, 1071–1097. https://doi.org/10.1111/1475-679x.12026
Ball, R., Kothari, S.P., Robin, A., 2000. The effect of international
institutional factors on properties of accounting earnings. Journal of
Accounting and Economics 29, 1–51. https://doi.org/10.1016/s0165-4101(00)00012-4
Ball, R., Shivakumar, L., 2008. How much new information is there in
earnings? Journal of Accounting Research 46, 975–1016. https://doi.org/10.1111/j.1475-679X.2008.00299.x
Bamber, L.S., Christensen, T.E., Gaver, K.M., 2000. Do we really
“know” what we think we know? A case study of seminal
research and its subsequent overgeneralization. Accounting,
Organizations and Society 25, 103–129. https://doi.org/10.1016/S0361-3682(99)00027-6
Bao, Y., Ke, B., Li, B., Yu, Y.J., Zhang, J., 2022. Erratum. Journal of
Accounting Research 60, 1635–1646. https://doi.org/10.1111/1475-679X.12454
Bao, Y., Ke, B., Li, B., Yu, Y.J., Zhang, J., 2020. Detecting accounting
fraud in publicly traded US firms using a machine learning
approach. Journal of Accounting Research 58, 199–235. https://doi.org/10.1111/1475-679X.12292
Basu, S., 1997. The conservatism principle and the asymmetric timeliness
of earnings. Journal of Accounting and Economics 24, 3–37. https://doi.org/10.1016/s0165-4101(97)00014-1
Beaver, W.H., 1998. Financial reporting: An accounting revolution, 3rd
ed. Prentice-Hall, Inc.
Beaver, W.H., 1968. The information content of annual earnings
announcements. Journal of Accounting Research 6, 67–92. https://doi.org/10.2307/2490070
Bebchuk, L.A., Cohen, A., Hirst, S., 2017. The agency problems of
institutional investors. Journal of Economic Perspectives 31, 89–102. https://doi.org/10.1257/jep.31.3.89
Bennedsen, M., Nielsen, K.M., Perez-Gonzalez, F., Wolfenzon, D., 2007.
Inside the family firm: The role of families in succession decisions and
performance. The Quarterly Journal of Economics 122, 647–691. https://doi.org/10.1162/qjec.122.2.647
Bernard, V.L., Schipper, K., 1994. Recognition and disclosure in
financial reporting.
Bernard, V.L., Thomas, J.K., 1989. Post-earnings-announcement drift:
Delayed price response or risk premium? Journal of Accounting Research
27, 1–36. https://doi.org/10.2307/2491062
Bertrand, M., Schoar, A., 2003. Managing with style: The effect of
managers on firm policies. The Quarterly Journal of Economics 118,
1169–1208. https://doi.org/10.1162/003355303322552775
Beyer, A., Cohen, D.A., Lys, T.Z., Walther, B.R., 2010. The financial
reporting environment: Review of the recent literature. Journal of
Accounting and Economics 50, 296–343. https://doi.org/10.1016/j.jacceco.2010.10.003
Bird, A., Karolyi, S.A., 2017. Governance and taxes: Evidence from
regression discontinuity. The Accounting Review 92, 29–50. https://doi.org/10.2308/accr-51520
Black, B.S., Desai, H., Litvak, K., Yoo, W., Yu, J.J., 2024. The SEC’s
short-sale experiment: Evidence on causal channels and reassessment of
indirect effects. Management Science 70, 5131–5156. https://doi.org/10.1287/mnsc.2023.4918
Black, B.S., Desai, H., Litvak, K., Yoo, W., Yu, J.J., 2019.
Pre-analysis plan for the Reg SHO reanalysis project. SSRN
Electronic Journal. https://doi.org/10.2139/ssrn.3415529
Black, F., 1976. The dividend puzzle. The Journal of Portfolio
Management 2, 5–8. https://doi.org/10.3905/jpm.1976.408558
Black, F., Scholes, M., 1973. The pricing of options and corporate
liabilities. Journal of Political Economy 81, 637–654. https://doi.org/10.1086/260062
Bloomfield, M.J., 2021. The asymmetric effect of reporting flexibility
on priced risk. Journal of Accounting Research 59, 867–910. https://doi.org/10.1111/1475-679X.12346
Bloomfield, R., Rennekamp, K., Steenhoven, B., 2018. No system is
perfect: Understanding how registration-based editorial processes affect
reproducibility and investment in research quality. Journal of
Accounting Research 56, 313–362. https://doi.org/10.1111/1475-679X.12208
Boone, A.L., White, J.T., 2015. The effect of institutional ownership on
firm transparency and information production. Journal of Financial
Economics 117, 508–533. https://doi.org/10.1016/j.jfineco.2015.05.008
Breiman, L., Friedman, J., Stone, C.J., Olshen, R.A., 1984.
Classification and regression trees. Taylor & Francis.
Brown, L.D., Lee, Y.-J., 2011. Changes in option-based compensation
around the issuance of SFAS 123R. Journal of Business
Finance & Accounting 38, 1053–1095. https://doi.org/10.1111/j.1468-5957.2011.02247.x
Brown, N.C., Stice, H., White, R.M., 2015. Mobile communication and
local information flow: Evidence from distracted driving laws. Journal
of Accounting Research 53, 275–329. https://doi.org/10.1111/1475-679X.12077
Brown, P., 1989. Ball and Brown [1968].
Journal of Accounting Research 27, 202–216. https://doi.org/10.2307/2491072
Burks, J.J., Cuny, C., Gerakos, J., Granja, J., 2018. Competition and
voluntary disclosure: Evidence from deregulation in the banking
industry. Review of Accounting Studies 23, 1471–1511. https://doi.org/10.1007/s11142-018-9463-1
Burt, R.A.P., 2000. The randomization failed—discard the study.
International Journal of Pharmaceutical Medicine 14, 319–321. https://doi.org/10.2165/00124363-200012000-00009
Call, A.C., Martin, G.S., Sharp, N.Y., Wilde, J.H., 2018. Whistleblowers
and outcomes of financial misrepresentation enforcement actions. Journal
of Accounting Research 56, 123–171. https://doi.org/10.1111/1475-679X.12177
Call, A.C., Sharp, N.Y., Wilde, J.H., 2019. A response to
“Are a few huge outcomes distorting financial
misconduct research?” Econ Journal Watch 16, 35–37.
Cameron, A.C., Gelbach, J.B., Miller, D.L., 2011. Robust inference with
multiway clustering. Journal of Business & Economic Statistics 29,
238–249. https://doi.org/10.1198/jbes.2010.07136
Cameron, A.C., Gelbach, J.B., Miller, D.L., 2008. Bootstrap-based
improvements for inference with clustered errors. The Review of
Economics and Statistics 90, 414–427. https://doi.org/10.1162/rest.90.3.414
Cameron, A.C., Trivedi, P.K., 2009. Microeconometrics using
Stata. Stata Press.
Cameron, A.C., Trivedi, P.K., 2005. Microeconometrics: Methods and
applications. Cambridge University Press.
Card, D., Krueger, A.B., 1994. Minimum wages and employment: A case
study of the fast-food industry in New Jersey and
Pennsylvania. The American Economic Review 84, 772–793. https://doi.org/10.2307/2118030
Chava, S., Roberts, M.R., 2008. How does financing impact investment?
The role of debt covenants. The Journal of Finance 63, 2085–2121. https://doi.org/10.1111/j.1540-6261.2008.01391.x
Chen, S., Huang, Y., Li, N., Shevlin, T., 2019. How does quasi-indexer
ownership affect corporate tax planning? Journal of Accounting and
Economics 67, 278–296. https://doi.org/10.1016/j.jacceco.2018.01.001
Chen, W., Hribar, P., Melessa, S., 2018. Incorrect inferences when using
residuals as dependent variables. Journal of Accounting Research 56,
751–796. https://doi.org/10.1111/j.1540-6261.2008.01391.x
Chiang, A.C., 1984. Fundamental methods of mathematical economics.
McGraw-Hill.
Choudhary, P., Rajgopal, S., Venkatachalam, M., 2009. Accelerated
vesting of employee stock options in anticipation of FAS
123-R. Journal of Accounting Research 47, 105–146. https://doi.org/10.1111/j.1475-679X.2008.00316.x
Christensen, H.B., Floyd, E., Liu, L.Y., Maffett, M., 2017. The real
effects of mandated information on social responsibility in financial
reports: Evidence from mine-safety records. Journal of Accounting and
Economics 64, 284–304. https://doi.org/10.1016/j.jacceco.2017.08.001
Cochrane, J.H., 2009. Asset pricing: Revised edition. Princeton
University Press.
Cohen, D.A., Dey, A., Lys, T.Z., 2013. Corporate governance reform and
executive incentives: Implications for investments and risk taking.
Contemporary Accounting Research 30, 1296–1332. https://doi.org/10.1111/j.1911-3846.2012.01189.x
Cunningham, S., 2021. Causal inference: The mixtape. Yale University
Press.
Davidson, R., MacKinnon, J.G., 2004. Econometric theory and methods.
Oxford University Press.
DeAngelo, L.E., 1986. Accounting numbers as market valuation
substitutes: A study of management buyouts of public stockholders. The
Accounting Review 61, 400–420.
Dechow, P., Khimich, N., Sloan, R., 2011. The accrual anomaly, in: The
Handbook of Equity Market Anomalies: Translating Market Inefficiencies
into Effective Investment Strategies. Wiley Finance, pp. 23–49.
Dechow, P.M., Sloan, R.G., Sweeney, A.P., 1995. Detecting earnings
management. The Accounting Review 70, 193–225.
Dechow, P.M., Sloan, R.G., Zha, J., 2014. Stock prices and earnings: A
history of research. Annual Review of Financial Economics 6, 343–363. https://doi.org/10.1146/annurev-financial-110613-034522
DeFond, M., Erkens, D.H., Zhang, J., 2017. Do client characteristics
really drive the Big N audit quality effect? New evidence
from propensity score matching. Management Science 63, 3628–3649. https://doi.org/10.1287/mnsc.2016.2528
Diether, K.B., Lee, K.-H., Werner, I.M., 2009. It’s SHO
time! Short-sale price tests and market quality. The Journal of Finance
64, 37–73. https://doi.org/10.1111/j.1540-6261.2008.01428.x
Dietrich, J.R., Muller, K.A., Riedl, E.J., 2022. On the validity of
asymmetric timeliness measures of accounting conservatism. Review of
Accounting Studies 28, 2150–2195. https://doi.org/10.1007/s11142-022-09684-2
Dietrich, J.R., Muller, K.A., Riedl, E.J., 2007. Asymmetric timeliness
tests of accounting conservatism. Review of Accounting Studies 12,
95–124. https://doi.org/10.1007/s11142-006-9023-y
Doll, R., Peto, R., 1976. Mortality in relation to smoking: 20 years’
observations on male British doctors. British Medical
Journal 2, 1525–1536. https://doi.org/10.1136/bmj.2.6051.1525
Dunn, P.K., Smyth, G.K., 2018. Generalized linear models with examples
in R, Springer Texts in Statistics. Springer New York. https://doi.org/10.1007/978-1-4419-0118-7
Dunning, T., 2012. Natural experiments in the social sciences: A
design-based approach. Cambridge University Press.
Dyck, A., Morse, A., Zingales, L., 2010. Who blows the whistle on
corporate fraud? The Journal of Finance 65, 2213–2253. https://doi.org/10.1111/j.1540-6261.2010.01614.x
Erkens, D.H., Subramanyam, K.R., Zhang, J., 2014. Affiliated banker on
board and conservative accounting. The Accounting Review 89, 1703–1728.
https://doi.org/10.2308/accr-50798
Ertimur, Y., Ferri, F., Oesch, D., 2015. Does the director election
system matter? Evidence from majority voting. Review of Accounting
Studies 20, 1–41. https://doi.org/10.1007/s11142-014-9284-9
Fama, E.F., 1991. Efficient capital markets: II. The Journal of Finance
46, 1575–1617. https://doi.org/10.1111/j.1540-6261.1991.tb04636.x
Fama, E.F., 1970. Efficient capital markets: A review of theory and
empirical work. The Journal of Finance 25, 383–417. https://doi.org/10.2307/2325486
Fama, E.F., Fisher, L., Jensen, M.C., Roll, R., 1969. The adjustment of
stock prices to new information. International Economic Review 10, 1–21.
https://doi.org/10.2307/2525569
Fama, E.F., French, K.R., 2008. Dissecting anomalies. The Journal of
Finance 63, 1653–1678. https://doi.org/10.1111/j.1540-6261.2008.01371.x
Fama, E.F., MacBeth, J.D., 1973. Risk, return, and equilibrium:
Empirical tests. Journal of Political Economy 81, 607–636. https://doi.org/10.1086/260061
Fang, V.W., Huang, A.H., Karpoff, J.M., 2019. Reply to “the
Reg SHO reanalysis project: Reconsidering Fang, Huang and Karpoff (2016) on Reg
SHO and earnings management” by Black
et al. (2019). SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3507033
Fang, V.W., Huang, A.H., Karpoff, J.M., 2016. Short selling and earnings
management: A controlled experiment. The Journal of Finance 71,
1251–1294. https://doi.org/10.1111/jofi.12369
Fisher, L., 1966. Some new stock-market indexes. The Journal of Business
39, 191–225. https://doi.org/10.1086/294848
Fisher, R.A., 1935. The design of experiments. Oliver and
Boyd.
Foster, G., 1977. Quarterly accounting data: Time-series properties and
predictive-ability results. The Accounting Review 52, 1–21.
Foster, G., Olsen, C., Shevlin, T., 1984. Earnings releases, anomalies,
and the behavior of security returns. The Accounting Review 59, 574–603.
Frank, K.A., 2000. Impact of a confounding variable on a regression
coefficient. Sociological Methods & Research 29, 147–194. https://doi.org/10.1177/0049124100029002001
Freedman, D.A., 2009. Statistical models and causal inference: A
dialogue with the social sciences. Cambridge University Press.
Friedl, J.E.F., 2006. Mastering regular expressions: Understand your
data and be more productive. O’Reilly Media.
Frison, L., Pocock, S.J., 1992. Repeated measures in clinical trials:
Analysis using mean summary statistics and its implications for design.
Statistics in Medicine 11, 1685–1704. https://doi.org/10.1002/sim.4780111304
Gelman, A., Imbens, G., 2019. Why high-order polynomials should not be
used in regression discontinuity designs. Journal of Business &
Economic Statistics 37, 447–456. https://doi.org/10.1080/07350015.2017.1366909
Gillies, D., 2011. The Russo-Williamson thesis and the
question of whether smoking causes heart disease, in: Illari, P.M.,
Russo, F., Williamson, J. (Eds.), Causality in the Sciences. Oxford
University Press, pp. 110–125.
Glaeser, S., Guay, W.R., 2017. Identification and generalizability in
accounting research: A discussion of Christensen,
Floyd, Liu, and Maffett (2017). Journal of Accounting and
Economics 64, 305–312. https://doi.org/10.1016/j.jacceco.2017.08.003
Glymour, M.M., Greenland, S., 2008. Causal diagrams, in: Rothman, K.J.,
Greenland, S., Lash, T.L. (Eds.), Modern Epidemiology. Lippincot,
Williams; Wilkins.
Goldberger, A.S., 1972. Structural equation methods in the social
sciences. Econometrica 40, 979–1001. https://doi.org/10.2307/1913851
Gow, I.D., 2022. farr: Data and code for
financial accounting research. CRAN: Contributed Packages. https://doi.org/10.32614/cran.package.farr
Gow, I.D., Kells, S.S., 2018. The Big Four: The curious
past and perilous future of the global accounting monopoly.
Berrett-Koehler Publishers.
Gow, I.D., Larcker, D.F., McCall, A., Tayan, B., 2013. Sneak preview:
How ISS dictates equity plan design. Stanford Closer Look
Series.
Gow, I.D., Larcker, D.F., Reiss, P.C., 2016. Causal inference in
accounting research. Journal of Accounting Research 54, 477–523. https://doi.org/10.1111/1475-679X.12116
Gow, I.D., Ormazabal, G., Taylor, D.J., 2010. Correcting for
cross-sectional and time-series dependence in accounting research. The
Accounting Review 85, 483–512. https://doi.org/10.2308/accr.2010.85.2.483
Goyvaerts, J., Levithan, S., 2009. Regular expressions cookbook.
O’Reilly Media.
Green, J., Hand, J.R.M., Soliman, M.T., 2011. Going, going, gone? The
apparent demise of the accruals anomaly. Management Science 57, 797–816.
https://doi.org/10.1287/mnsc.1110.1320
Grolemund, G., 2014. Hands-on programming with R, Safari
books online. O’Reilly Media, Incorporated.
Guay, W.R., Samuels, D., Taylor, D.J., 2016. Guiding through the fog:
Financial statement complexity and voluntary disclosure. Journal of
Accounting and Economics 62, 234–269. https://doi.org/10.1016/j.jacceco.2016.09.001
Guo, S., Atkinson, P., Delamont, S., Cernat, A., Sakshaug, J.W.,
Williams, R.A., 2020. Propensity score analysis. SAGE Publications
Limited.
Hagopian, K., 2006. Point of view: Expensing employee stock options is
improper accounting. California Management Review 48, 136–156. https://doi.org/10.2307/41166364
Hail, L., Tahoun, A., Wang, C., 2018. Corporate scandals and regulation.
Journal of Accounting Research 56, 617–671. https://doi.org/10.1111/1475-679X.12201
Harvey, C.R., 2017. Presidential address: The scientific outlook in
financial economics. The Journal of Finance 72, 1399–1440. https://doi.org/10.1111/jofi.12530
Hastie, T., Tibshirani, R., Friedman, J., 2013. The elements of
statistical learning: Data mining, inference, and prediction, Springer
series in statistics. Springer New York. https://doi.org/10.1007/978-0-387-84858-7
Healy, K., 2018. Data visualization: A practical introduction. Princeton
University Press.
Healy, P.M., 1985. The effect of bonus schemes on accounting decisions.
Journal of Accounting and Economics 7, 85–107. https://doi.org/10.1016/0165-4101(85)90029-1
Heckman, J.J., Singer, B., 2017. Abducting economics. American Economic
Review 107, 298–302. https://doi.org/10.1257/aer.p20171118
Hoekstra, M., 2009. The effect of attending the flagship state
university on earnings: A discontinuity-based approach. The Review of
Economics and Statistics 91, 717–724. https://doi.org/10.1162/rest.91.4.717
Hopkins, J.J., Lang, M.H., Zhao, J.D., 2022. The rise of
VIEs in China: Balancing state control and
access to foreign capital. Journal of Financial Reporting 7, 105–130. https://doi.org/10.2308/jfr-2021-017
Hribar, P., Collins, D.W., 2002. Errors in estimating accruals:
Implications for empirical research. Journal of Accounting Research 40,
105–134. https://doi.org/10.1111/1475-679X.00041
Huntington-Klein, N., 2021. The effect: An introduction to research
design and causality. Chapman; Hall/CRC Press.
Iliev, P., 2010. The effect of SOX Section 404: Costs,
earnings quality, and stock prices. The Journal of Finance 65,
1163–1196. https://doi.org/10.1111/j.1540-6261.2010.01564.x
Imbens, G.W., Kalyanaraman, K., 2012. Optimal bandwidth choice for the
regression discontinuity estimator. The Review of Economic Studies 79,
933–959. https://doi.org/10.1093/restud/rdr043
Imbens, G.W., Rubin, D.B., 2015. Causal inference for statistics, social
and biomedical sciences: An introduction. Cambridge University Press. https://doi.org/10.1017/CBO9781139025751
Irarrazabal, A., Moxnes, A., Opromolla, L.D., 2013. The margins of
multinational production and the role of intrafirm trade. Journal of
Political Economy 121, 74–126. https://doi.org/10.1086/669877
Jackson, S.B., Liu, X.K., Cecchini, M., 2009. Economic consequences of
firms’ depreciation method choice: Evidence from capital investments.
Journal of Accounting and Economics 48, 54–68. https://doi.org/10.1016/j.jacceco.2009.06.001
Jame, R., Johnston, R., Markov, S., Wolfe, M.C., 2016. The value of
crowdsourced earnings forecasts. Journal of Accounting Research 54,
1077–1110. https://doi.org/10.1111/1475-679x.12121
James, G., Witten, D., Hastie, T., Tibshirani, R., 2022. An introduction
to statistical learning: With applications in R, Springer
texts in statistics. Springer US. https://doi.org/10.1007/978-1-0716-1418-1
Jayaraman, S., Shivakumar, L., 2012. Agency-based demand for
conservatism: Evidence from state adoption of antitakeover laws. Review
of Accounting Studies 18, 95–134. https://doi.org/10.1007/s11142-012-9205-8
Jones, J.J., 1991. Earnings management during import relief
investigations. Journal of Accounting Research 29, 193–228. https://doi.org/10.2307/2491047
Kajüter, P., Klassmann, F., Nienhaus, M., 2018. The effect of mandatory
quarterly reporting on firm value. The Accounting Review 94, 251–277. https://doi.org/10.2308/accr-52212
Karolyi, G.A., Taboada, A.G., 2015. Regulatory arbitrage and
cross‐border bank acquisitions. The Journal of Finance 70, 2395–2450. https://doi.org/10.1111/jofi.12262
Kelly, B., Ljungqvist, A., 2012. Testing asymmetric-information asset
pricing models. Review of Financial Studies 25, 1366–1413. https://doi.org/10.1093/rfs/hhr134
Kennedy, P., 2008. A guide to econometrics. Wiley.
Khan, M., Srinivasan, S., Tan, L., 2016. Institutional ownership and
corporate tax avoidance: New evidence. The Accounting Review 92,
101–122. https://doi.org/10.2308/accr-51529
Khan, U., Li, B., Rajgopal, S., Venkatachalam, M., 2017. Do the
FASB’s standards add shareholder value? The Accounting
Review 93. https://doi.org/10.2308/accr-51840
Klasa, S.J., Ortiz-Molina, H., Serfling, M.A., Srinivasan, S., 2018.
Protection of trade secrets and capital structure decisions. Journal of
Financial Economics 128, 266–286. https://doi.org/10.1016/j.jfineco.2018.02.008
Koh, P.-S., Reeb, D.M., 2015. Missing R&D. Journal of
Accounting and Economics 60, 73–94. https://doi.org/10.1016/j.jacceco.2015.03.004
Koller, M., Stahel, W.A., 2017. Nonsingular subsampling for regression
S estimators with categorical predictors. Computational
Statistics 32, 631–646. https://doi.org/10.1007/s00180-016-0679-x
Kothari, S.P., 2001. Capital markets research in accounting. Journal of
Accounting and Economics 31, 105–231. https://doi.org/10.1016/S0165-4101(01)00030-1
Kothari, S.P., Leone, A.J., Wasley, C.E., 2005. Performance matched
discretionary accrual measures. Journal of Accounting and Economics 39,
163–197. https://doi.org/10.1016/j.jacceco.2004.11.002
Kraft, A., Leone, A.J., Wasley, C.E., 2007. Regression-based tests of
the market pricing of accounting numbers: The Mishkin test
and ordinary least squares. Journal of Accounting Research 45,
1081–1114. https://doi.org/10.1111/j.1475-679X.2007.00261.x
Kreps, D.M., 1990. A course in microeconomic theory. Princeton
University Press.
Kuhn, M., Johnson, K., 2013. Applied predictive modeling, SpringerLink:
Bücher. Springer New York. https://doi.org/10.1007/978-1-4614-6849-3
Kuhn, M., Silge, J., 2022. Tidy modeling with R. O’Reilly
Media.
Kuvvet, E., 2019. Are a few huge outcomes distorting financial
misconduct research? Econ Journal Watch 16, 1–34.
Larcker, D.F., Ormazabal, G., Taylor, D.J., 2011. The market reaction to
corporate governance regulation. Journal of Financial Economics 101,
431–448. https://doi.org/10.1016/j.jfineco.2011.03.002
Larcker, D.F., Richardson, S.A., Tuna, İ., 2007. Corporate governance,
accounting outcomes, and organizational performance. The Accounting
Review 82, 963–1008. https://doi.org/10.2308/accr.2007.82.4.963
Larcker, D.F., Rusticus, T.O., 2010. On the use of instrumental
variables in accounting research. Journal of Accounting and Economics
49, 186–205. https://doi.org/10.1016/j.jacceco.2009.11.004
Lawrence, A., Minutti-Meza, M., Zhang, P., 2011. Can Big 4
versus non-Big 4 differences in audit-quality proxies be
attributed to client characteristics? The Accounting Review 86, 259–286.
https://doi.org/10.2308/accr.00000009
Lee, D.S., Lemieux, T., 2010. Regression discontinuity designs in
economics. Journal of Economic Literature 48, 281–355. https://doi.org/10.1257/jel.48.2.281
Leftwich, R.W., Zmijewski, M.E., 1994. Contemporaneous announcements of
dividends and earnings. Journal of Accounting, Auditing and Finance
725–762. https://doi.org/10.1177/0148558X9400900406
Lennox, C.S., Francis, J.R., Wang, Z., 2012. Selection models in
accounting research. The Accounting Review 87, 589–616. https://doi.org/10.2308/accr-10195
Leone, A.J., Minutti-Meza, M., Wasley, C.E., 2019. Influential
observations and inference in accounting research. The Accounting Review
94, 337–364. https://doi.org/10.2308/accr-52396
Leuz, C., 2007. Was the Sarbanes–Oxley Act of 2002 really
this costly? A discussion of evidence from event returns and
going-private decisions. Journal of Accounting and Economics 44,
146–165. https://doi.org/10.1016/j.jacceco.2007.06.001
Li, S.X., Sandino, T., 2018. Effects of an information sharing system on
employee creativity, engagement, and performance. Journal of Accounting
Research 56, 713–747. https://doi.org/10.1111/1475-679X.12202
Li, Y., Lin, Y., Zhang, L., 2018. Trade secrets law and corporate
disclosure: Causal evidence on the proprietary cost hypothesis. Journal
of Accounting Research 56, 265–308. https://doi.org/10.1111/1475-679X.12187
Li, Y., Zhang, L., 2015. Short selling pressure, stock price behavior,
and management forecast precision: Evidence from a natural experiment.
Journal of Accounting Research 53, 79–117. https://doi.org/10.1111/1475-679X.12068
Lin, Y., Mao, Y., Wang, Z., 2017. Institutional ownership, peer
pressure, and voluntary disclosures. The Accounting Review 93, 283–308.
https://doi.org/10.2308/accr-51945
Listokin, Y., 2008. Management always wins the close ones. American Law
and Economics Review 10, 159–184. https://doi.org/10.1093/aler/ahn010
Loughran, T., Mcdonald, B., 2014. Measuring readability in financial
disclosures. The Journal of Finance 69, 1643–1671. https://doi.org/10.1111/jofi.12162
MacKinlay, A.C., 1997. Event studies in economics and finance. Journal
of Economic Literature 35, 13–39.
Mahase, E., 2021. Covid-19: Pfizer’s paxlovid is 89%
effective in patients at risk of serious illness, company reports. BMJ
375. https://doi.org/10.1136/bmj.n2713
Manchiraju, H., Rajgopal, S., 2017. Does corporate social responsibility
(CSR) create shareholder value? Evidence from the
Indian Companies Act 2013. Journal of Accounting Research
55, 1257–1300. https://doi.org/10.1111/1475-679X.12174
Maronna, R.A., Martin, R.D., Yohai, V.J., Salibián-Barrera, M., 2019.
Robust statistics: Theory and methods (with R). John Wiley
& Sons.
Matloff, N., 2011. The art of R programming: A tour of
statistical software design. No Starch Press.
McCrary, J., 2008. Manipulation of the running variable in the
regression discontinuity design: A density test. Journal of Econometrics
142, 698–714. https://doi.org/10.1016/j.jeconom.2007.05.005
McCrum, D., 2022. Money men: The inspiration for Netflix’s
Skandal! A hot startup, a billion dollar fraud, a fight for
the truth. Transworld.
McNichols, M., Wilson, G.P., 1988. Evidence of earnings management from
the provision for bad debts. Journal of Accounting Research 26, 1–31. https://doi.org/10.2307/2491176
Michels, J., 2017. Disclosure versus recognition: Inferences from
subsequent events. Journal of Accounting Research 55, 3–34. https://doi.org/10.1111/1475-679X.12128
Miller, G.S., Skinner, D.J., 2015. The evolving disclosure landscape:
How changes in technology, the media, and capital markets are affecting
disclosure. Journal of Accounting Research 53, 221–239. https://doi.org/10.1111/1475-679X.12075
Mishkin, F.S., 1983. A rational expectations approach to macroeconomics:
Testing policy ineffectiveness and efficient-markets models. University
of Chicago Press.
Morgan, S.L., Winship, C., 2014. Counterfactuals and causal inference.
Cambridge University Press. https://doi.org/10.1017/cbo9781107587991
Morrow, J.D., Frei, B., Longmire, A.W., Gaziano, J.M., Lynch, S.M.,
Shyr, Y., Strauss, W.E., Oates, J.A., Roberts, L.J., 1995. Increase in
circulating products of lipid peroxidation F2-isoprostanes in
smokers: Smoking as a cause of oxidative damage. New England Journal of
Medicine 332, 1198–1203. https://doi.org/10.1056/NEJM199505043321804
Newey, W.K., West, K.D., 1987. A simple, positive semi-definite,
heteroskedasticity and autocorrelation consistent covariance matrix.
Econometrica 55, 703–708. https://doi.org/10.2307/1913610
Neyman, J., 1923. On the application of probability theory to
agricultural experiments. Essay on principles. Section 9. Statistical
Science 5, 465–472.
Nichols, D.C., Wahlen, J.M., 2004. How do earnings numbers relate to
stock returns? A review of classic accounting research with updated
evidence. Accounting Horizons 18, 263–286. https://doi.org/10.2308/acch.2004.18.4.263
Pearl, J., 2009a. Causal inference in statistics: An overview.
Statistics Surveys 3, 96–146. https://doi.org/10.1214/09-SS057
Pearl, J., 2009b. Causality: Models, reasoning and inference. Cambridge
University Press.
Pearl, J., Mackenzie, D., 2019. The book of why: The new science of
cause and effect, An allen lane book. Penguin Books.
R Core Team, 2021. R: A language and environment for statistical
computing. R Foundation for Statistical Computing, Vienna, Austria.
Reiss, P.C., Wolak, F.A., 2007. Structural econometric modeling:
Rationales and examples from industrial organization, in: Heckman, J.J.,
Leamer, E.E. (Eds.), Handbook of Econometrics. Elsevier, pp. 4277–4415.
https://doi.org/10.1016/S1573-4412(07)06064-3
Roberts, M.R., Whited, T.M., 2013. Endogeneity in empirical corporate
finance, in: Handbook of the Economics of Finance. Elsevier, pp.
493–572. https://doi.org/10.1016/B978-0-44-453594-8.00007-0
Russo, F., Williamson, J., 2007. Interpreting causality in the health
sciences. International Studies in the Philosophy of Science 21,
157–170. https://doi.org/10.1080/02698590701498084
Salkever, D.S., 1976. The use of dummy variables to compute predictions,
prediction errors, and confidence intervals. Journal of Econometrics 4,
393–397. https://doi.org/10.1016/0304-4076(76)90027-0
Santos Silva, J.M.C., Tenreyro, S., 2011. Further simulation evidence on
the performance of the poisson pseudo-maximum likelihood estimator.
Economics Letters 112, 220–222. https://doi.org/10.1016/j.econlet.2011.05.008
Santos Silva, J.M.C., Tenreyro, S., 2006. The log of gravity. The Review
of Economics and Statistics 88, 641–658. https://doi.org/10.1162/rest.88.4.641
Schipper, K., Thompson, R., 1983. The impact of merger-related
regulations on the shareholders of acquiring firms. Journal of
Accounting Research 21, 184–221. https://doi.org/10.2307/2490943
Seiffert, C., Khoshgoftaar, T.M., Van Hulse, J., Napolitano, A., 2008.
RUSBoost: Improving classification performance when training data is
skewed, in: 2008 19th International Conference on Pattern Recognition.
pp. 1–4.
Shadish, W.R., Cook, T.D., Campbell, D.T., 2002. Experimental and
quasi-experimental designs for generalized causal inference. Houghton
Mifflin.
Shiller, R., 1984. Stock prices and social dynamics (Cowles Foundation
Discussion Papers No. 719R). Cowles Foundation for Research in
Economics, Yale University.
Shipman, J.E., Swanquist, Q.T., Whited, R.L., 2016. Propensity score
matching in accounting research. The Accounting Review 92, 213–244. https://doi.org/10.2308/accr-51449
Simmons, J.P., Nelson, L.D., Simonsohn, U., 2011. False-positive
psychology: Undisclosed flexibility in data collection and analysis
allows presenting anything as significant. Psychological Science 22,
1359–1366. https://doi.org/10.1177/0956797611417632
Simon, C.P., Blume, L., 1994. Mathematics for economists. W. W. Norton
& Company.
Sloan, R.G., 1996. Do stock prices fully reflect information in accruals
and cash flows about future earnings? The Accounting Review 71, 289–315.
Stock, J.H., Wright, J.H., Yogo, M., 2002. A survey of weak instruments
and weak identification in generalized method of moments. Journal of
Business & Economic Statistics 20, 518–529. https://doi.org/10.1198/073500102288618658
Tan, L., 2013. Creditor control rights, state of nature verification,
and financial reporting conservatism. Journal of Accounting and
Economics 55, 1–22. https://doi.org/10.1016/j.jacceco.2012.08.001
Tenreyro, S., 2007. On the trade impact of nominal exchange rate
volatility. Journal of Development Economics 82, 485–508. https://doi.org/10.1016/j.jdeveco.2006.03.007
Thaler, R.H., 2015. Misbehaving: The making of behavioral economics. W.
W. Norton.
Thistlethwaite, D.L., Campbell, D.T., 1960. Regression-discontinuity
analysis: An alternative to the ex post facto experiment. Journal of
Educational Psychology 51, 309–317. https://doi.org/10.1037/h0044319
Thompson, S.B., 2011. Simple formulas for standard errors that cluster
by both firm and time. Journal of Financial Economics 99, 1–10. https://doi.org/10.1016/j.jfineco.2010.08.016
Tinbergen, J., 1962. The world economy: Suggestions for an international
economic policy. Twentieth Century Fund, New York, NY.
Vashishtha, R., 2014. The role of bank monitoring in borrowers׳
discretionary disclosure: Evidence from covenant violations. Journal of
Accounting and Economics 57, 176–195. https://doi.org/10.1016/j.jacceco.2014.04.002
Verrecchia, R.E., 1983. Discretionary disclosure. Journal of Accounting
and Economics 5, 179–194. https://doi.org/10.1016/0165-4101(83)90011-3
Walker, S., 2021. Post-split underreaction: The importance of prior
split history. International Review of Financial Analysis 78, 101945. https://doi.org/10.1016/j.irfa.2021.101945
Watts, R.L., 1992. Accounting choice theory and market-based research in
accounting. The British Accounting Review 24, 235–267. https://doi.org/10.1016/S0890-8389(05)80023-X
White, H., 1984. Asymptotic theory for econometricians, Economic theory,
econometrics, and mathematical economics. Academic Press, Harcourt Brace
Jovanovich, Orlando, FL.
White, H., 1980. A heteroskedasticity-consistent covariance matrix
estimator and a direct test for heteroskedasticity. Econometrica 48,
817–838. https://doi.org/10.2307/1912934
Wickham, H., 2019. Advanced R, second edition, Chapman
& Hall/CRC The R Series. CRC Press. https://doi.org/10.1201/9781351201315
Wickham, H., Çetinkaya-Rundel, M., Grolemund, G., 2023. R for data
science. O’Reilly Media, Sebastopol, CA.
Wilkinson, L., 2005. The grammar of graphics, Statistics and Computing.
Springer-Verlag. https://doi.org/10.1007/0-387-28695-0
Wooldridge, J.M., 2010. Econometric analysis of cross section and panel
data, 2nd ed. MIT Press.
Wooldridge, J.M., 2000. Introductory econometrics. South-Western Thomson
Learning.
Xie, H., 2001. The mispricing of abnormal accruals. The Accounting
Review 76, 357–373. https://doi.org/10.2308/accr.2001.76.3.357
Young, A., 2018. Will the real specification please stand up? A comment
on Andrew Bird and Stephen Karolyi. Econ
Journal Watch 15, 35–48.
Zhang, I.X., 2007. Economic consequences of the Sarbanes-Oxley
Act of 2002. Journal of Accounting and Economics 44, 74–115. https://doi.org/10.1016/j.jacceco.2007.02.002