Prof Tsang's paper wins award at 2021 Academy of Finance Conference
Congratulations to聽Desmond Tsang,聽Associate Professor in Accounting, whose paper won Best-in-Track Award for Real Estate at the 2021 Academy of Finance Conference
New policies needed to address the CEWS controversy
Between April and September 20, 53 publicly-held Canadian companies paid out nearly $2 billion to their shareholders despite receiving more than $10 million in federal assistance through the Canadian Emergency Wage Subsidy (CEWS). Prof.
鈥楽hareholder capitalism鈥� sparks controversy
The news that more than 60 publicly held Canadian firms have received the Canadian Emergency Wage Subsidy (CEWS) while continuing to pay out dividends has sharply divided public opinion this week. Professor Preetika Joshi enters the debate, pointing to the complexity of balancing profit with corporate responsibility during a crisis.
68 Canadian companies pay out billions in dividends while receiving government subsidies
A recent investigation reveals that as 68 publicly-traded Canadian companies received at least $1.3 billion government assistance through the Canadian Emergency Wage Subsidy (CEWS), they paid out more than $5 billion in dividends during the same time period. According to Professor Preetika Joshi, certain countries were more discerning than others when distributing corporate subsidies.
Professor Julia Scott receives prestigious FCPA designation
The Desautels Faculty of Management congratulates Professor Julia Scott for being recognized with CPA Ontario鈥檚 coveted FCPA designation. The FCPA distinction is reserved for those at the pinnacle of their careers; it is the highest honour that can be bestowed on a member.
The long-term impact of corporate tax disclosure
Companies are experiencing increased pressure to open their tax affairs to public scrutiny. But for Assistant Professor Preetika Joshi, it is crucial to first determine how tax transparency will affect corporate behaviour in the long term.
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Delve: How Will Tariff Uncertainty Affect Financial Markets?
Against the backdrop of tariff wars and a pandemic, one question that investors are asking is whether they can trust financial analysts鈥� earnings projections for their investment decisions. On the one hand, financial analysts are professional earnings forecasters whose livelihood depends on the accuracy of their work. On the other hand, trade uncertainty might be severe enough to undermine the credibility and accuracy of analysts鈥� forecasts.
Delve: Walking Away Rather Than Blowing the Whistle
Prof Desmond Tsang finds that higher turnover rates among boards of directors points to the possibility of corporate fraud.
This article is brought to you by Delve, the official thought leadership publication of 捆绑SM社区's Desautels Faculty of Management.
Professor Dongyoung Lee awarded 2019 SSHRC Insight Development Grant
Dongyoung Lee, Assistant Professor in Accounting, awarded 2019 SSHRC Insight Development Grant
Accounting scholarship recipients
Congratulations to Kiwon Choi (BCom鈥�19), Hugo Ouimet (BCom鈥�19 鈥� currently in GCPA program) and Christopher Wolf (BCom鈥�20), undergraduate scholarship recipients from the Ordre des comptables professionnels agr茅茅s du Qu茅bec.
Teaching excellence celebrated at Desautels convocation
Congratulations to Amanda Abrams, Faculty Lecturer, and Elliot Lifson, Professor of Practice and Desautels Faculty Advisory Board member, who were honored at 捆绑SM社区鈥檚 Management Convocation ceremony for their excellence in teaching at the undergraduate and graduate levels respectively.
Dongyoung Lee, Jingjing Zhang and Hongping Tan awarded 2018 SSHRC Connection Grant
Congratulations to聽Dongyoung Lee, Assistant Professor in Accounting, Jingjing Zhang, Assistant Professor in Accounting, and Hongping Tan, Associate Professor in Accounting, awarded 2018 SSHRC Connection Grant - 2019 Financial Accounting Research Conference: 鈥淎c
Professor Tsang honored at Bravo 2019
Professor Desmond Tsang was recently honored at the Bravo 2019 gala for his recognition by REAL as a top real estate researcher for a second consecutive year.
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Prof. Wenzel named best reviewer
Professor Brian Wenzel has been awarded the 2018 AJFS Best Reviewer Award on behalf of Korean Securities Association and Asia-Pacific Journal of Financial Studies.
The award recognizes specifically Professor Wenzel鈥檚 outstanding review of an article submission to the Journal in the Corporate Finance area.
The Effects of Analyst鈥怌ountry Institutions on Biased Research: Evidence from Target Prices
Authors:聽Mark T. Bradshaw, Alan G. Huang, Hongping Tan
Publication:聽Journal of Accounting Research, Forthcoming
础产蝉迟谤补肠迟:听
Prior research demonstrates that a strong institutional infrastructure in a country moderates self鈥恠erving behavior of market participants. Cross鈥恈ountry economic activities have increased significantly, presenting a research opportunity to examine the relative influence of local versus foreign institutional infrastructure on individual market participants. We utilize variation in analyst鈥恈ountry location relative to covered firm location to examine institutional determinants of optimism in analyst research. Focusing on target prices, where persistent optimism is well documented, we find that analysts domiciled in countries with stronger institutional infrastructures exhibit significantly attenuated target price optimism and more value鈥恟elevant target prices. Our results demonstrate the importance of domestic country鈥恖evel institutional factors in moderating self鈥恠erving behavior of market participants engaged in cross鈥恈ountry activities.
