Doing Good When Doing Well: Evidence on Real Earnings Management
发布时间 2021-04-08 16:32:19 来源
摘要
The RAST conference held at Stanford, December 10-11, 2020 has a special focus on the role of financial reporting and disclosure and its impact on CSR (corporate social responsibility) and ESG (Environmental, Social, and Governance) policies and actions.
Doing Good When Doing Well: Evidence on Real Earnings Management
Presented by Charles Hadlock, Michigan State University with discussant Ilia Dichev, Emory University
Electric and gas utilities have annual sales that are highly sensitive to variation in the weather where they operate. However, despite both this sensitivity and the high fixed-cost nature of the industry, reported earnings of utilities do not reflect annual changes in the weather. This behavior suggests that utilities take actions to smooth earnings in the face of unexpected demand shocks. Investigating one potential action of this type, Professor Charles Hadlock from Michigan State University discusses how charitable giving by sample firms is highly sensitive to weather in a manner that would aid firms in smoothing earnings. Alternative explanations for this giving behavior, unrelated to earnings management concerns, receive no support in the data.
The full program and additional information is available here: https://www.gsb.stanford.edu/events/review-accounting-studies-2020-conference
Watch Welcome and Introduction: https://youtu.be/SynFc5e_Pts
Watch Session 1 on Financial (Mis)conduct and Employee Mistreatment: Evidence from Wage Theft: https://youtu.be/8v4sia-MRf0
Watch Session 3 on Strategic Reporting by Nonprofit Hospitals: An Examination of Bad Debt and Charity Care: https://youtu.be/xUkctohvGIE
Watch Session 4 on Voluntary Disclosure When Private Information and Proprietary Costs Are Jointly Determined: https://youtu.be/ih_ERV3gWUA
Watch Session 5 on Criminals, Bankruptcy, and Cost of Debt: https://youtu.be/jakTtJGyNjw
Watch Session 6 on Monitoring or Payroll Maximization? What Happens When Workers Enter the Boardroom?: https://youtu.be/IeRhmqRRs7k
Watch Session 7 on A New Take on Voice: The Influence of BlackRock’s “Dear CEO” Letters: https://youtu.be/WcVRytFUEpA
Watch Session 8 on The Impact of Carbon Disclosure Mandates on Emissions and Financial Operating Performance: https://youtu.be/oH23bdt44TU
Watch Current Statistics on RAST and Closing Remarks: https://youtu.be/cV6nPkqzcJI
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