Auditor conservatism and voluntary disclosure: Evidence from the Year 2000 systems issue

This study further examines the phenomenon of conservative auditor behaviour by considering the level of voluntary disclosure of Year 2000 remediation information in company annual reports. Previous studies have provided evidence of conservative auditor behaviour by examining the link between Big 6 auditor choice and accruals (Francis and Krishnan 1999; Becker et al ., 1998; Defond and Subramanyam 1998). Protecting their reputation capital increases Big 6 auditor incentives to act conservatively to avoid litigation risk. We propose and find that Big 6 auditor clients disclose more Year 2000 remediation information than non–Big 6 auditor clients.     

Stochastic Technology, Risk Preferences, and Adoption of Site-Specific Technologies

A model of farmer decision making is developed to determine the extent to which uncertainties about soil fertility and weather affect the value of site-specific technologies (SSTs) using jointly estimated risk and technology parameters. Uncertainty can lead risk-averse farmers to apply more fertilizers and generate more pollution than in the certainty case. Ignoring uncertainty and risk aversion would overestimate the economic and environmental benefits of SSTs and underestimate the subsidy required to induce adoption. Accounting for uncertainties and risk preferences might explain the low observed adoption rates of SSTs. Improving the accuracy of SSTs would increase the incentives for adoption.     

The Recognition and Timing of Deferred Tax Liabilities

Abstract:   This paper examines the characteristics of firms that account for deferred tax liabilities related to government investment grants under an extended adoption timing period. Not only the recognition but also the timing decision is associated with changes in future performance and changes in the debt structure. Recognisers outperform non‐recognisers in the future, while early recognition is related to post recognition performance but only for those firms that currently perform well. Changes in the balance sheet structure are also related to both decisions. Firms with recent increases in the debt level tend to postpone recognition, while currently well‐performing firms that increase their future debt level are less likely to recognise deferred taxes.     

Herd Behaviour in Adoption of Network Technologies

In technology adoption, herd behaviour can lead to a suboptimal outcome as shown, among others, by Choi (1997). However, empirics find little support for the idea that a less efficient technology can conquer the market and lock out a more efficient one. Accordingly, we improve and generalize Choi's results, by introducing an additional source of uncertainty: the economic environment. We investigate how the economic environment can affect herding and consequently the efficiency of the technology choice. The result is a smaller adoption bias. In the limit, firms may optimally experiment with the new technology that turns out to be social welfare improving.     

Assessing Voluntary Programs to Improve Environmental Quality

The last decade has seen a dramatic increase in the use of voluntaryapproaches (VAs) to environmental protection, which has spurned agrowing literature on the relative merits of voluntary vs. mandatoryapproaches. This paper draws on that literature to discuss both thetheoretical and empirical issues that arise in the evaluation orassessment of a particular VA. We consider both the environmentaleffectiveness and the efficiency of this policy approach. Our aim is toaid policymakers in evaluating a specific program or in thinking aboutthe use and design of a VA. We identify some key features that arelikely to increase both the effectiveness and the efficiency of VAs.     

上市公司年度报告自愿披露行为的实证研究

本文以我国上市公司 2 0 0 1年年度报告为研究对象 ,通过构建上市公司年度报告自愿披露模型 ,实证分析了影响我国上市公司自愿披露的若干因素 ,并简要概括出目前我国上市公司自愿披露的行为特征。     

Skill-Specific rather than General Education: A Reason for US–Europe Growth Differences?

In this paper, we develop a model of technology adoption and economic growth in which households optimally obtain either a concept-based, general education or a skill-specific, vocational education. General education is costly to obtain, but enables workers to operate new production technologies. Firms weigh the cost of adopting and operating new technologies against increased profits and optimally choose the level of adoption. We show that an economy whose policies favor vocational education will grow slower in equilibrium than one that favors general education. More importantly, the gap between their growth rates will increase with the growth rate of available technology. By characterizing the optimal Ramsey education policy we also demonstrate that the optimal subsidy for general education increases with the growth rate of available technology. Our theory suggests that European education policies that favored specialized, vocational education might have worked well, both in terms of growth rates and welfare, during the 1960s and 1970s when available technologies changed slowly. However, in the information age of the 1980s and 1990s when new technologies emerged at a more rapid pace, they might have contributed to an increased growth gap relative to the United States.     

Disentangling Managers’ and Analysts’ Non‐GAAP Reporting

Researchers frequently proxy for managers’ non‐GAAP disclosures using performance metrics available through analyst forecast data providers (FDPs), such as I/B/E/S. The extent to which FDP‐provided earnings are a valid proxy for managers’ non‐GAAP reporting, however, has been debated extensively. We explore this important question by creating the first large‐sample data set of managers’ non‐GAAP earnings disclosures, which we directly compare to I/B/E/S data. Although we find a substantial overlap between the two data sets, we also find that they differ in systematic ways because I/B/E/S (1) excludes managers’ lower quality non‐GAAP numbers and (2) sometimes provides higher quality non‐GAAP measures that managers do not explicitly disclose. Our results indicate that using I/B/E/S to identify managers’ non‐GAAP disclosures significantly underestimates the aggressiveness of their reporting choices. We encourage researchers interested in managers’ non‐GAAP reporting to use our newly available data set of manager‐disclosed non‐GAAP metrics because it more accurately captures managers’ reporting choices.     

社会网络和同伴效应视角下农户农业绿色技术采用研究综述

[目的]农业绿色技术的推广和应用有助于促进农业集约经营、实现农业生态良性循环、推动农业由“量”到“质”转变。文章旨在对社会网络、同伴效应与农户技术采用之间关系进行系统阐述与分析,发现现有研究不足,提出进一步研究方向。[方法]采用文献研究法和总结归纳法,以社会网络、同伴效应与农户技术采用之间关系研究的主要内容为主线,从农业技术采用、社会网络与农户技术采用、个体行为与同伴效应识别、同伴效应形成机制四个方面对现有研究进行梳理、概括和评价。[结果]目前政府和学界对农户绿色技术采用行为展开了大量研究,但大多强调农户自身特征或决策对绿色技术采用行为的影响,在很大程度上忽略了社会网络,以及同伴效应对农户绿色技术采用所起的作用。[结论]未来应深化社会网络、同伴效应对农户技术采用的影响机制的定量及动态研究;应进一步探索社会网络和同伴效应的“中国特色”;应丰富和改进研究方法和实验技术。     

设施蔬菜绿色生产技术采纳影响因素与经济效益研究——以河北省定兴县为例

[目的]农业资源环境是农业产品质量保障的基础,农业科技创新有力支撑农业产业发展,探究农业绿色生产技术的影响因素与经济效益,对保障农业产业绿色发展,提高农户绿色生产积极性具有重要意义。[方法]文章基于2020年河北省定兴县实地调研所得的219份农户数据,通过二元Logistic模型分析农户采纳绿色生产技术的影响因素,在此基础上运用倾向得分匹配方法研究技术采纳对农户家庭经济效益的作用水平。[结果]（1）虽然定兴县绿色生产技术推广取得一定成效,共有67.58%的农户采纳一种或多种绿色生产技术,但采纳程度有待提高。（2）农户的年龄、受教育程度、大棚类型、是否加入合作社、是否接受技术培训以及政府是否给予指导显著影响农户技术采纳决策。（3）采纳绿色生产技术的农户与未采纳组相比每公顷年均收入增加28.44%;测土配方技术、病虫害绿色防控技术分别带来26.52%和14.90%的增收效应,并分别在1%和5%的水平上显著,节水灌溉技术和废弃物循环利用技术增收效果不显著。[结论]绿色生产技术能显著提高农户收入,因此政府要加强对绿色生产技术的推广,通过技术培训、经济激励、构建技术推广体系等措施提高农户绿色生产...