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Externalities of public firm presence: Evidence from private firms' investment decisions

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Cited by:

  1. De George, Emmanuel T. & Li, Xi & Shivakumar, Lakshmanan, 2016. "A review of the IFRS adoption literature," LSE Research Online Documents on Economics 67599, London School of Economics and Political Science, LSE Library.
  2. John M. Barrios & Jung Ho Choi & Yael V. Hochberg & Jinhwan Kim & Miao Liu, 2020. "Informing Entrepreneurs: Public Corporate Disclosure and New Business Formation," Working Papers 2020-92, Becker Friedman Institute for Research In Economics.
  3. Jinhwan Kim & Rodrigo S. Verdi & Benjamin P. Yost, 2020. "Do Firms Strategically Internalize Disclosure Spillovers? Evidence from Cash‐Financed M&As," Journal of Accounting Research, Wiley Blackwell, vol. 58(5), pages 1249-1297, December.
  4. Hakenes, Hendrik & Boyd, John H. & Heitz, Amanda Rae, 2016. "The Effects of Creditor Rights and Bank Information Sharing on Borrower Behavior: Theory and Evidence," CEPR Discussion Papers 11699, C.E.P.R. Discussion Papers.
  5. Ruihao Ke & Meng Li & Zhejia Ling & Yuan Zhang, 2019. "Social Connections Within Executive Teams and Management Forecasts," Management Science, INFORMS, vol. 65(1), pages 439-457, January.
  6. Shroff, Nemit, 2016. "Discussion of “Is the risk of product market predation a cost of disclosure?”," Journal of Accounting and Economics, Elsevier, vol. 62(2), pages 326-332.
  7. Zubair, Siraz & Kabir, Rezaul & Huang, Xiaohong, 2020. "Does the financial crisis change the effect of financing on investment? Evidence from private SMEs," Journal of Business Research, Elsevier, vol. 110(C), pages 456-463.
  8. Christian Leuz, 2018. "Evidence-based policymaking: promise, challenges and opportunities for accounting and financial markets research," Accounting and Business Research, Taylor & Francis Journals, vol. 48(5), pages 582-608, July.
  9. Jung Ho Choi, 2021. "Accrual Accounting and Resource Allocation: A General Equilibrium Analysis," Journal of Accounting Research, Wiley Blackwell, vol. 59(4), pages 1179-1219, September.
  10. Ferracuti, Elia & Stubben, Stephen R., 2019. "The role of financial reporting in resolving uncertainty about corporate investment opportunities," Journal of Accounting and Economics, Elsevier, vol. 68(2).
  11. Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane & Janzen, Malte, 2018. "Policy uncertainty, investment, and the cost of capital," Journal of Financial Stability, Elsevier, vol. 39(C), pages 28-45.
  12. Cyrus Aghamolla & Richard T. Thakor, 2022. "Do Mandatory Disclosure Requirements for Private Firms Increase the Propensity of Going Public?," Journal of Accounting Research, Wiley Blackwell, vol. 60(3), pages 755-804, June.
  13. Liu, Qigui & Wang, Junyi & Chi, Wenqiang, 2022. "The spillover effects of innovation content disclosure in MD&A," Pacific-Basin Finance Journal, Elsevier, vol. 76(C).
  14. Ferracuti, Elia, 2022. "Information uncertainty and organizational design," Journal of Accounting and Economics, Elsevier, vol. 74(1).
  15. Panagiotidis, Theodore & Printzis, Panagiotis, 2020. "What is the investment loss due to uncertainty?," Global Finance Journal, Elsevier, vol. 45(C).
  16. Chen, Zhihong & Huang, Yuan & Kusnadi, Yuanto & John Wei, K.C., 2017. "The real effect of the initial enforcement of insider trading laws," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 687-709.
  17. Emmanuel T. De George & Xi Li & Lakshmanan Shivakumar, 2016. "A review of the IFRS adoption literature," Review of Accounting Studies, Springer, vol. 21(3), pages 898-1004, September.
  18. Kausar, Asad & Shroff, Nemit & White, Hal, 2016. "Real effects of the audit choice," Journal of Accounting and Economics, Elsevier, vol. 62(1), pages 157-181.
  19. Thomas Bourveau & Guoman She & Alminas Žaldokas, 2020. "Corporate Disclosure as a Tacit Coordination Mechanism: Evidence from Cartel Enforcement Regulations," Journal of Accounting Research, Wiley Blackwell, vol. 58(2), pages 295-332, May.
  20. Ahçi, Mustafa, 2023. "Essays on corporate disclosures, innovation, and investments," Other publications TiSEM 0dddb5f7-17e1-41ba-97da-0, Tilburg University, School of Economics and Management.
  21. De Simone, Lisa & Klassen, Kenneth J. & Seidman, Jeri K., 2022. "The effect of income-shifting aggressiveness on corporate investment," Journal of Accounting and Economics, Elsevier, vol. 74(1).
  22. Peter Demerjian & John Donovan & Melissa F. Lewis‐Western, 2020. "Income Smoothing and the Usefulness of Earnings for Monitoring in Debt Contracting," Contemporary Accounting Research, John Wiley & Sons, vol. 37(2), pages 857-884, June.
  23. Tesfaye T. Lemma & Tendai Gwatidzo & Mthokozisi Mlilo, 2023. "Gender differences in business performance: evidence from Kenya and South Africa," Small Business Economics, Springer, vol. 60(2), pages 591-614, February.
  24. Wenjing Li & Jeff Ng & Albert Tsang & Oktay Urcan, 2019. "Country-level institutions and management earnings forecasts," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(1), pages 48-82, February.
  25. Gordon, Elizabeth A. & Hsu, Hsiao-Tang & Huang, Huichi, 2020. "Peer R&D disclosure and corporate innovation: Evidence from American depositary receipt firms," Advances in accounting, Elsevier, vol. 49(C).
  26. Bolor-Erdene, Batjargal & Jung, Sun-Moon & Park, Sohee, 2023. "The ties that bind: Social capital and perceived competition during financial crisis," Finance Research Letters, Elsevier, vol. 53(C).
  27. Aghamolla, Cyrus & Thakor, Richard T., 2022. "IPO peer effects," Journal of Financial Economics, Elsevier, vol. 144(1), pages 206-226.
  28. Hasan AYAYDIN & Savaþ DURMUÞ, 2016. "Interest rate and Economic Growth as Determinants of Firm Investment Decision: An Investigation on BIST listed firms," Journal of Economics and Political Economy, KSP Journals, vol. 3(1), pages 160-169, March.
  29. Yanrong Jia & Ananth Seetharaman & Yan Sun & Xu Wang, 2023. "Relative Performance Goals and Management Earnings Guidance," Journal of Business Ethics, Springer, vol. 183(4), pages 1045-1071, April.
  30. He, Eric & Jacob, Martin & Vashishtha, Rahul & Venkatachalam, Mohan, 2022. "Does differential taxation of short-term relative to long-term capital gains affect long-term investment?," Journal of Accounting and Economics, Elsevier, vol. 74(1).
  31. Dennis Oswald & Ana Simpson & Paul Zarowin, 2022. "Capitalization vs. expensing and the behavior of R&D expenditures," Review of Accounting Studies, Springer, vol. 27(4), pages 1199-1232, December.
  32. Manipushpak Mitra & Rupayan Pal & Arindam Paul & P. M. Sharada, 2020. "Equilibrium Coexistence of Public and Private Firms and the Plausibility of Price Competition," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 176(2), pages 217-242.
  33. Cheng, Yuxi & Katchova, Ani, 2018. "Cooperatives capital structure adjustment during the agricultural downturn," 2018 Annual Meeting, August 5-7, Washington, D.C. 273788, Agricultural and Applied Economics Association.
  34. Park, Jihwon & Sani, Jalal & Shroff, Nemit & White, Hal, 2019. "Disclosure incentives when competing firms have common ownership," Journal of Accounting and Economics, Elsevier, vol. 67(2), pages 387-415.
  35. Koptyug, Nikita & Persson, Lars & Tåg, Joacim, 2020. "Should we worry about the decline of the public corporation? A brief survey of the economics and external effects of the stock market," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
  36. Michael Minnis & Nemit Shroff, 2017. "Why regulate private firm disclosure and auditing?," Accounting and Business Research, Taylor & Francis Journals, vol. 47(5), pages 473-502, July.
  37. Bernard, Darren & Kaya, Devrimi & Wertz, John, 2021. "Entry and capital structure mimicking in concentrated markets: The role of incumbents’ financial disclosures," Journal of Accounting and Economics, Elsevier, vol. 71(2).
  38. Georgakopoulos, Georgios & Gounopoulos, Dimitrios & Huang, Chen & Patsika, Victoria, 2022. "The impact of IFRS adoption on IPOs management earnings forecasts in Australia," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 48(C).
  39. Nemit Shroff, 2017. "Corporate investment and changes in GAAP," Review of Accounting Studies, Springer, vol. 22(1), pages 1-63, March.
  40. Michael Dambra & Matthew Gustafson, 2021. "Do the Burdens to Being Public Affect the Investment and Innovation of Newly Public Firms?," Management Science, INFORMS, vol. 67(1), pages 594-616, January.
  41. Stephanie F. Cheng, 2021. "The Information Externality of Public Firms’ Financial Information in the State‐Bond Secondary Market," Journal of Accounting Research, Wiley Blackwell, vol. 59(2), pages 529-574, May.
  42. Boyd, John & Hakenes, Hendrik & Heitz, Amanda, 2018. "The Effects of Creditor Rights and Bank Information Sharing on Borrower Behavior: Theory and Evidence," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181565, Verein für Socialpolitik / German Economic Association.
  43. Marcelo Ortiz, 2020. "Financial disclosure environment and the cash policy of private firms," Economics Working Papers 1692, Department of Economics and Business, Universitat Pompeu Fabra.
  44. Stephen Glaeser & James D. Omartian, 2022. "Public Firm Presence, Financial Reporting, and the Decline of U.S. Manufacturing," Journal of Accounting Research, Wiley Blackwell, vol. 60(3), pages 1085-1130, June.
  45. Matthias Breuer, 2021. "How Does Financial‐Reporting Regulation Affect Industry‐Wide Resource Allocation?," Journal of Accounting Research, Wiley Blackwell, vol. 59(1), pages 59-110, March.
  46. Panagiotidis, Theodore & Printzis, Panagiotis, 2021. "Investment and uncertainty: Are large firms different from small ones?," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 302-317.
  47. Haga, Jesper & Högholm, Kenneth & Sundvik, Dennis, 2022. "Peer firms’ reporting frequency and stock price synchronicity: European evidence," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 49(C).
  48. Rebecca N. Hann & Heedong Kim & Yue Zheng, 2019. "Intra-industry information transfers: evidence from changes in implied volatility around earnings announcements," Review of Accounting Studies, Springer, vol. 24(3), pages 927-971, September.
  49. Ru Gao & Baljit K. Sidhu, 2018. "The Impact of Mandatory International Financial Reporting Standards Adoption on Investment Efficiency: Standards, Enforcement, and Reporting Incentives," Abacus, Accounting Foundation, University of Sydney, vol. 54(3), pages 277-318, September.
  50. Meftah Gerged, Ali & Kuzey, Cemil & Uyar, Ali & Karaman, Abdullah S., 2023. "Does investment stimulate or inhibit CSR transparency? The moderating role of CSR committee, board monitoring and CEO duality," Journal of Business Research, Elsevier, vol. 159(C).
  51. Abigail Allen & Melissa F. Lewis‐Western & Kristen Valentine, 2022. "The Innovation and Reporting Consequences of Financial Regulation for Young Life‐Cycle Firms," Journal of Accounting Research, Wiley Blackwell, vol. 60(1), pages 45-95, March.
  52. Bernard, Darren & Blackburne, Terrence & Thornock, Jacob, 2020. "Information flows among rivals and corporate investment," Journal of Financial Economics, Elsevier, vol. 136(3), pages 760-779.
  53. Laura A. Wellman, 2017. "Mitigating political uncertainty," Review of Accounting Studies, Springer, vol. 22(1), pages 217-250, March.
  54. Daniel Aobdia, 2018. "Employee mobility, noncompete agreements, product-market competition, and company disclosure," Review of Accounting Studies, Springer, vol. 23(1), pages 296-346, March.
  55. Xie, Xiaoying & Wang, Yuling & Zhao, Guiqin & Lu, Weili, 2017. "Cash holdings between public and private insurers ‒ a partial adjustment approach," Journal of Banking & Finance, Elsevier, vol. 82(C), pages 80-97.
  56. Binz, Oliver & Mayew, William J. & Nallareddy, Suresh, 2022. "Firms’ response to macroeconomic estimation errors," Journal of Accounting and Economics, Elsevier, vol. 73(2).
  57. Shroff, Nemit & Verdi, Rodrigo S. & Yost, Benjamin P., 2017. "When does the peer information environment matter?," Journal of Accounting and Economics, Elsevier, vol. 64(2), pages 183-214.
  58. Theodora Bermpei & Antonios Nikolaos Kalyvas & Lorenzo Neri & Antonella Russo, 2022. "Does economic policy uncertainty matter for financial reporting quality? Evidence from the United States," Review of Quantitative Finance and Accounting, Springer, vol. 58(2), pages 795-845, February.
  59. Badertscher, Brad A. & Kim, Jaewoo & Kinney, William R. & Owens, Edward, 2023. "Assurance level choice, CPA fees, and financial reporting benefits: Inferences from U.S. private firms," Journal of Accounting and Economics, Elsevier, vol. 75(2).
  60. Xin Che & Stephen G. Fier & Andre P. Liebenberg, 2019. "The effect of predation risk on cash holdings: Empirical evidence from the U.S. property‐liability insurance industry," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 22(3), pages 329-358, September.
  61. Kim, Jinhwan & Valentine, Kristen, 2023. "Public firm disclosures and the market for innovation," Journal of Accounting and Economics, Elsevier, vol. 76(1).
  62. Arif, Salman & Marshall, Nathan & Yohn, Teri Lombardi, 2016. "Understanding the relation between accruals and volatility: A real options-based investment approach," Journal of Accounting and Economics, Elsevier, vol. 62(1), pages 65-86.
  63. Cai, Ye & Kim, Yongtae & Park, Jong Chool & White, Hal D., 2016. "Common auditors in M&A transactions," Journal of Accounting and Economics, Elsevier, vol. 61(1), pages 77-99.
  64. He, Liyu & He, Rong & Evans, Elaine, 2020. "Board influence on a firm’s long-term success: Australian evidence," Journal of Behavioral and Experimental Finance, Elsevier, vol. 27(C).
  65. Kim, Jinhwan & Valentine, Kristen, 2021. "The innovation consequences of mandatory patent disclosures," Journal of Accounting and Economics, Elsevier, vol. 71(2).
  66. Vo, Hong & Trinh, Quoc-Dat & Le, Minh & Nguyen, Thuy-Ngan, 2021. "Does economic policy uncertainty affect investment sensitivity to peer stock prices?," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 685-699.
  67. Ran An & Wentao Li & Di Wang & Yanyan Wang & Lisheng Yu, 2023. "Do Key Audit Matters Affect Operating Activities? Evidence from Inventory Management," Abacus, Accounting Foundation, University of Sydney, vol. 59(1), pages 300-339, March.
  68. Chen, Ciao-Wei & Correia, Maria & Urcan, Oktay, 2023. "Accounting for leases and corporate investment," LSE Research Online Documents on Economics 117182, London School of Economics and Political Science, LSE Library.
  69. Edwards, Alexander & Todtenhaupt, Maximilian, 2020. "Capital gains taxation and funding for start-ups," Journal of Financial Economics, Elsevier, vol. 138(2), pages 549-571.
  70. Christian Leuz & Peter D. Wysocki, 2016. "The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research," Journal of Accounting Research, Wiley Blackwell, vol. 54(2), pages 525-622, May.
  71. Bernard, Darren & Burgstahler, David & Kaya, Devrimi, 2018. "Size management by European private firms to minimize proprietary costs of disclosure," Journal of Accounting and Economics, Elsevier, vol. 66(1), pages 94-122.
  72. Sudipta Basu & Eunju (Ivy) Lee, 2022. "Antecedents of and outcomes after finance committee use," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(3-4), pages 491-535, March.
  73. Sutherland, Andrew, 2018. "Does credit reporting lead to a decline in relationship lending? Evidence from information sharing technology," Journal of Accounting and Economics, Elsevier, vol. 66(1), pages 123-141.
  74. Kim, Jinhwan & Olbert, Marcel, 2022. "How does private firm disclosure affect demand for public firm equity? Evidence from the global equity market," Journal of Accounting and Economics, Elsevier, vol. 74(2).
  75. Thomas Bourveau & Jordan Schoenfeld, 2017. "Shareholder activism and voluntary disclosure," Review of Accounting Studies, Springer, vol. 22(3), pages 1307-1339, September.
  76. Rajiv Banker & Rong Huang & Yinghua Li & Sha Zhao, 2021. "Do Accounting Standards Matter for Productivity?," Production and Operations Management, Production and Operations Management Society, vol. 30(1), pages 68-84, January.
  77. Durnev, Art & Mangen, Claudine, 2020. "The spillover effects of MD&A disclosures for real investment: The role of industry competition," Journal of Accounting and Economics, Elsevier, vol. 70(1).
  78. Billett, Matthew T. & Garfinkel, Jon A. & Yu, Miaomiao, 2017. "The effect of asymmetric information on product market outcomes," Journal of Financial Economics, Elsevier, vol. 123(2), pages 357-376.
  79. Bernard, Darren, 2016. "Is the risk of product market predation a cost of disclosure?," Journal of Accounting and Economics, Elsevier, vol. 62(2), pages 305-325.
  80. Ormazabal, Gaizka & Badia, Marc & Duro, Miguel & Jorgensen, Bjorn N., 2017. "Market-wide Effects of Off-Balance Sheet Disclosures:," CEPR Discussion Papers 12152, C.E.P.R. Discussion Papers.
  81. Roychowdhury, Sugata & Shroff, Nemit & Verdi, Rodrigo S., 2019. "The effects of financial reporting and disclosure on corporate investment: A review," Journal of Accounting and Economics, Elsevier, vol. 68(2).
  82. Lian Fen Lee & Alvis K. Lo, 2016. "Do Opinions on Financial Misstatement Firms Affect Analysts’ Reputation with Investors? Evidence from Reputational Spillovers," Journal of Accounting Research, Wiley Blackwell, vol. 54(4), pages 1111-1148, September.
  83. Marcelo Ortiz, 2020. "Financial Disclosure Environment and the Cash Policy of Private Firms," Working Papers 1148, Barcelona School of Economics.
  84. Oh, Kwang Wuk & Kim, Hyun Ah, 2019. "Are inflated domestic credit ratings relative to global ratings associated with peer firms’ investment decisions? Evidence from Korea," Japan and the World Economy, Elsevier, vol. 51(C), pages 1-1.
  85. Rauter, Thomas, 2019. "Disclosure Regulation, Corruption, and Investment: Evidence from Natural Resource Extraction," Working Papers 286, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
  86. Ormazabal, Gaizka & Bonetti, Pietro & Duro, Miguel, 2019. "Disclosure Regulation and Corporate Acquisitions," CEPR Discussion Papers 13458, C.E.P.R. Discussion Papers.
  87. De Franco, Gus & Shohfi, Thomas & Xu, Da & Zhu, Zhiwei (Vivi), 2023. "Fixed income conference calls," Journal of Accounting and Economics, Elsevier, vol. 75(1).
  88. Emmanuel Adu‐Ameyaw & Albert Danso & Linda Hickson, 2022. "Growth opportunity and investment policy: The role of managerial incentives," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 3634-3646, December.
  89. Ru Gao & Baljit K. Sidhu, 2018. "Convergence of accounting standards and financial reporting externality: evidence from mandatory IFRS adoption," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 58(3), pages 817-848, September.
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