题目：Political Corruption and Accounting Choices
报告人：新加坡南洋理工大学 张怀 副教授
We examine how political corruption affects firms’ accounting choices. We hypothesize and find that firms headquartered in corrupt states manipulate earnings downwards, relative to firms headquartered elsewhere. Our findings are robust to alternative corruption measures, restatement-based earnings management measures, the instrumental variable approach and the difference-in-differences analysis. Consistent with the motive to depress earnings, we find that firms headquartered in more corrupt states are more likely to choose the accelerated depreciation method, report higher LIFO reserve and depreciation reserve, and have a lower depreciable life estimate. Finally, we find that the effect of corruption on earnings management is more pronounced for firms whose operations concentrate in their headquarter states and for firms without political connections. In sum, our findings suggest that firms respond to corruption by lowering their accounting earnings.
张怀教授，新加坡南洋理工大学会计学终身教授，美国哥伦比亚大学博士，在国际顶级会计学、金融学、管理学杂志如Management Science,Journal of Finance,Journal of Accounting and Economics, Review of Accounting Studies 等发表多篇论文，并受到主流媒体（如美国华尔街日报， 新加坡海峡时报）的广泛关注。张教授同时担任是英文期刊Review of Accounting and Finance，The International Journal of Accounting的编委会成员，是多家顶级杂志的匿名审稿人。2015 年， 被福建省教育厅聘为“闽江学者讲座教授”。