Identification and Generalizability in Accounting Research: A Discussion of Christensen, Floyd, Liu, and Maffett (2017)

Glaeser, Stephen; Guay, Wayne R.

doi:10.2139/ssrn.3014477

Cited by 21 publications

(28 citation statements)

References 23 publications

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“…BDJO and most recent literature on the effect of disclosure regulation use a difference‐in‐differences (DiD) approach. The challenges with the DiD approach are extensively discussed in the context of accounting disclosure studies by, among others, Leuz and Wysocki () and Glaeser and Guay (). Rather than repeat their points, I will focus on the importance of institutional knowledge for designing a good identification strategy.…”

Section: Broad‐ Versus Narrow‐sample Evidence In Disclosure Regulatiomentioning

confidence: 99%

“…Given how difficult it is to attain perfect identification in studies on disclosure regulation and that the key identification assumptions are often untestable, convincing evidence of causal relationships likely comes from multiple studies that collectively update our priors (Glaeser and Guay ). However, this Bayesian approach to research only works if the studies rely on different variation.…”

Section: Broad‐ Versus Narrow‐sample Evidence In Disclosure Regulatiomentioning

confidence: 99%

“…Third, I argue that the “Bayesian approach to causal inferences” in which one recognizes that perfect identification is unattainable and uncovering causal relationships for important research questions is likely best accomplished by comparing and contrasting the results from a large set of different studies (Glaeser and Guay ), and is more likely feasible through a series of narrow‐sample studies. I demonstrate this point by comparing what we have learned from a very large number of IFRS studies and what we learn from BDJO.…”

Section: Introductionmentioning

confidence: 99%

“…I acknowledge that many of the ideas in this discussion are not my own original thoughts. I have borrowed heavily from Leuz and Wysocki () and Glaeser and Guay (). I have also incorporated ideas generated during a discussion of the same issues by attendees at the 2017 CAR Consortium held the day before the 32nd CAR Annual Conference where BDJO was presented.…”

Section: Introductionmentioning

confidence: 99%

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The Informational Effects of Tightening Oil and Gas Disclosure Rules

Badia

Duro

Jørgensen

et al. 2020

Contemporary Accting Res

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We exploit two regulatory shocks to examine the informational effects of tightening preexisting mandatory disclosure rules. Canadian National Instrument 51‐101 in 2003 and the U.S. rule “Modernization of Oil and Gas Reporting” in 2009 introduced quasi‐identical amendments which effectively tightened the rules governing oil and gas reserve disclosures in both countries. We document significant changes in firms' reporting outcomes when the new regulations are introduced. We also find that the reserve disclosures filed under the new regulations are more closely associated with stock price changes and with decreases in bid‐ask spreads. Our findings are robust to controlling for other confounding factors such as time trends, other information disclosed simultaneously, financial reporting incentives, mispricing, and monitoring efforts.

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Section: Broad‐ Versus Narrow‐sample Evidence In Disclosure Regulatiomentioning

confidence: 99%

Section: Broad‐ Versus Narrow‐sample Evidence In Disclosure Regulatiomentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

The Informational Effects of Tightening Oil and Gas Disclosure Rules

Badia

Duro

Jørgensen

et al. 2020

Contemporary Accting Res

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“…Put differently, there is a price that we pay for identification. Many studies on standard setting and financial market regulation that provide causal estimates do so in very specific settings and as a result, their estimates (or the magnitudes of their estimates) have limited generalisability (see also Wysocki 2016, Glaeser andGuay 2017). This limitation also arises with field experiments.…”

Section: Importance Of Causal Inferences and The Tradeoff Between Intmentioning

confidence: 99%

Evidence-based policymaking: promise, challenges and opportunities for accounting and financial markets research

Leuz

2018

Accounting and Business Research

135

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This paper is based on my 2017 PD Leake Lecture at the ICAEW. I acknowledge helpful comments from the editors, Luzi Hail, Christian Laux and, especially, Maximilian Muhn. I also thank Maximilian Muhn for his excellent research assistance. I have worked as an economic advisor to the PCAOB and still serve as a consultant from time to time. I have also co-written independent research reports on policy questions for the FASB and the SASB. The views expressed in this paper are my own. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Mandatory CSR and sustainability reporting: economic analysis and literature review

2021

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This study collates potential economic effects of mandated disclosure and reporting standards for corporate social responsibility (CSR) and sustainability topics. We first outline key features of CSR reporting. Next, we draw on relevant academic literatures in accounting, finance, economics, and management to discuss and evaluate the potential economic consequences of a requirement for CSR and sustainability reporting for U.S. firms, including effects in capital markets, on stakeholders other than investors, and on firm behavior. We also discuss issues related to the implementation and enforcement of CSR and sustainability reporting standards as well as two approaches to sustainability reporting that differ in their overarching goals and materiality standards. Our analysis yields a number of insights that are relevant for the current debate on mandatory CSR and sustainability reporting. It also points scholars to avenues for future research.

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Identification and Generalizability in Accounting Research: A Discussion of Christensen, Floyd, Liu, and Maffett (2017)

Cited by 21 publications

References 23 publications

The Informational Effects of Tightening Oil and Gas Disclosure Rules

The Informational Effects of Tightening Oil and Gas Disclosure Rules

Evidence-based policymaking: promise, challenges and opportunities for accounting and financial markets research

Mandatory CSR and sustainability reporting: economic analysis and literature review

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