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Three essays on corporate financial disclosures

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TitleInfo
Title
Three essays on corporate financial disclosures
Name (type = personal)
NamePart (type = family)
Yang
NamePart (type = given)
Yinan
NamePart (type = date)
1990-
DisplayForm
Yinan Yang
Role
RoleTerm (authority = RULIB)
author
Name (type = personal)
NamePart (type = family)
Jaggi
NamePart (type = given)
Bikki
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Bikki Jaggi
Affiliation
Advisory Committee
Role
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chair
Name (type = corporate)
NamePart
Rutgers University
Role
RoleTerm (authority = RULIB)
degree grantor
Name (type = corporate)
NamePart
Graduate School - Newark
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school
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Text
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theses
OriginInfo
DateCreated (qualifier = exact)
2018
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2018-05
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2018
Place
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xx
Language
LanguageTerm (authority = ISO639-2b); (type = code)
eng
Abstract (type = abstract)
This dissertation consists of three papers. In the first paper we identify a new incentive for managers in determining management forecast (MF) characteristics stemming from the relative performance evaluation feature of CEO promotion tournaments. We document higher credibility of MF for firms with stronger tournament incentives (as proxied for by the CEO pay gap). We posit that the relative performance evaluation feature of CEO promotion tournaments creates mutual monitoring mechanism within the management team as well as the incentives for lower-ranked executives to provide high quality information to gain better evaluation results. We thereby extend previous MF literature that focuses mainly on equity-based incentives and reports mixed findings. Our results are robust to using different tournament measures, controlling for other known determinants of MF characteristics as well as manager skills, and corrections of endogeneity of all specifications. In the second paper, we investigate the spill-over effect of customer fraud on non-fraudulent suppliers’ investment decisions. We posit that suppliers utilize customers’ information to infer future demand and economic prospects, and noisy information distorts and misguides the investment and productions decisions made by suppliers. The overinvestment and misrepresented performance of customers signal a high demand and prosperous economic prospects for suppliers, resulting in overinvestment decisions by suppliers. We find that suppliers invest more during the fraud periods of customers. The degree of distortion is less severe when the supplier operates in concentrated industry and more severe when suppliers have higher sales volatility. In addition, we show that the overinvestments by suppliers are inefficient as associated future cash flows are significantly reduced. Our results are robust to different fraud samples, alternative research methodology, and controlling for other known determinants of investment decisions. In the third paper, we investigate whether firms engaging in corporate fraud take advantages of strategic timing of earnings announcements (EA). We document that misreporting firms strategically time their EA in low attention periods (i.e. after trading hours) during violation years. In addition, we show that the timing strategy is followed by a longer detection period and more insider trading. We thereby extend previous corporate disclosure timing literature that mainly focuses on the content of reported news. We also extend the corporate fraud literature by showing a low-cost way in which firms can possibly “hide” the manipulated earnings. Our results are robust to different samples of fraud, different research methodology, different sample periods, and controlling for other known determinants of market attention.
Subject (authority = RUETD)
Topic
Management
RelatedItem (type = host)
TitleInfo
Title
Rutgers University Electronic Theses and Dissertations
Identifier (type = RULIB)
ETD
Identifier
ETD_8882
PhysicalDescription
Form (authority = gmd)
electronic resource
InternetMediaType
application/pdf
InternetMediaType
text/xml
Extent
1 online resource (ix, 128 p. : ill.)
Note (type = degree)
Ph.D.
Note (type = bibliography)
Includes bibliographical references
Subject (authority = ETD-LCSH)
Topic
Corporations--Accounting
Subject (authority = ETD-LCSH)
Topic
Corporate profits
Note (type = statement of responsibility)
by Yinan Yang
RelatedItem (type = host)
TitleInfo
Title
Graduate School - Newark Electronic Theses and Dissertations
Identifier (type = local)
rucore10002600001
Location
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NjNbRU
Identifier (type = doi)
doi:10.7282/T36W9FG0
Genre (authority = ExL-Esploro)
ETD doctoral
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Rights

RightsDeclaration (ID = rulibRdec0006)
The author owns the copyright to this work.
RightsHolder (type = personal)
Name
FamilyName
Yang
GivenName
Yinan
Role
Copyright Holder
RightsEvent
Type
Permission or license
DateTime (encoding = w3cdtf); (qualifier = exact); (point = start)
2018-04-13 11:08:25
AssociatedEntity
Name
Yinan Yang
Role
Copyright holder
Affiliation
Rutgers University. Graduate School - Newark
AssociatedObject
Type
License
Name
Author Agreement License
Detail
I hereby grant to the Rutgers University Libraries and to my school the non-exclusive right to archive, reproduce and distribute my thesis or dissertation, in whole or in part, and/or my abstract, in whole or in part, in and from an electronic format, subject to the release date subsequently stipulated in this submittal form and approved by my school. I represent and stipulate that the thesis or dissertation and its abstract are my original work, that they do not infringe or violate any rights of others, and that I make these grants as the sole owner of the rights to my thesis or dissertation and its abstract. I represent that I have obtained written permissions, when necessary, from the owner(s) of each third party copyrighted matter to be included in my thesis or dissertation and will supply copies of such upon request by my school. I acknowledge that RU ETD and my school will not distribute my thesis or dissertation or its abstract if, in their reasonable judgment, they believe all such rights have not been secured. I acknowledge that I retain ownership rights to the copyright of my work. I also retain the right to use all or part of this thesis or dissertation in future works, such as articles or books.
Copyright
Status
Copyright protected
Availability
Status
Open
Reason
Permission or license
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Technical

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2018-04-19T14:50:19
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2018-04-19T14:50:19
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