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- Publisher Website: 10.2308/accr-52355
- Scopus: eid_2-s2.0-85076291218
- WOS: WOS:000489010700010
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Article: Litigation Risk and Voluntary Disclosure: Evidence from Legal Changes
Title | Litigation Risk and Voluntary Disclosure: Evidence from Legal Changes |
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Authors | |
Keywords | earnings forecasts litigation risk shareholder protection |
Issue Date | 2019 |
Publisher | American Accounting Association. The Journal's web site is located at http://aaapubs.aip.org/accr/ |
Citation | The Accounting Review, 2019, v. 94 n. 5, p. 247-272 How to Cite? |
Abstract | This paper documents that changes in litigation risk affect corporate voluntary disclosure practices. We make causal inferences by exploiting three legal events that generate exogenous variations in firms' litigation risk. Using a matching-based fixed-effect difference-in-differences design, we find that the treated firms tend to make fewer (more) management earnings forecasts relative to the control firms when they expect litigation risk to be lower (higher) following the legal event. The results are concentrated on the earnings forecasts conveying negative news and are robust to alternative specifications, samples, and outcome variables. |
Persistent Identifier | http://hdl.handle.net/10722/279016 |
ISSN | 2023 Impact Factor: 4.4 2023 SCImago Journal Rankings: 4.640 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Houston, JF | - |
dc.contributor.author | Lin, C | - |
dc.contributor.author | Liu, S | - |
dc.contributor.author | Wei, L | - |
dc.date.accessioned | 2019-10-21T02:18:05Z | - |
dc.date.available | 2019-10-21T02:18:05Z | - |
dc.date.issued | 2019 | - |
dc.identifier.citation | The Accounting Review, 2019, v. 94 n. 5, p. 247-272 | - |
dc.identifier.issn | 0001-4826 | - |
dc.identifier.uri | http://hdl.handle.net/10722/279016 | - |
dc.description.abstract | This paper documents that changes in litigation risk affect corporate voluntary disclosure practices. We make causal inferences by exploiting three legal events that generate exogenous variations in firms' litigation risk. Using a matching-based fixed-effect difference-in-differences design, we find that the treated firms tend to make fewer (more) management earnings forecasts relative to the control firms when they expect litigation risk to be lower (higher) following the legal event. The results are concentrated on the earnings forecasts conveying negative news and are robust to alternative specifications, samples, and outcome variables. | - |
dc.language | eng | - |
dc.publisher | American Accounting Association. The Journal's web site is located at http://aaapubs.aip.org/accr/ | - |
dc.relation.ispartof | The Accounting Review | - |
dc.subject | earnings forecasts | - |
dc.subject | litigation risk | - |
dc.subject | shareholder protection | - |
dc.title | Litigation Risk and Voluntary Disclosure: Evidence from Legal Changes | - |
dc.type | Article | - |
dc.identifier.email | Lin, C: chenlin1@hku.hk | - |
dc.identifier.authority | Lin, C=rp01808 | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.2308/accr-52355 | - |
dc.identifier.scopus | eid_2-s2.0-85076291218 | - |
dc.identifier.hkuros | 308091 | - |
dc.identifier.volume | 94 | - |
dc.identifier.issue | 5 | - |
dc.identifier.spage | 247 | - |
dc.identifier.epage | 272 | - |
dc.identifier.isi | WOS:000489010700010 | - |
dc.publisher.place | United States | - |
dc.identifier.issnl | 0001-4826 | - |