ORCID Profile
0000-0002-9106-4733
Current Organisation
City University of Hong Kong
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Publisher: Wiley
Date: 02-08-2019
DOI: 10.1002/SMJ.3066
Publisher: Springer Science and Business Media LLC
Date: 18-12-2017
Publisher: Wiley
Date: 07-11-2020
DOI: 10.1111/ACFI.12718
Abstract: Using a newly developed institutional investor distraction measure, we examine whether auditors increase their risk assessment when clients’ institutional investors temporarily reduce their monitoring activities. We find that audit fees and audit report lags increase during periods when institutional investors temporarily focus their attention on other parts of their portfolio. This effect is stronger when dedicated institutional investors are distracted. We further show that the identified relationship is weaker in the post‐Sarbanes‐Oxley Act period. Finally, we find that the impact of investor distraction on audit fees and lags is more pronounced for firms with weaker board oversight and higher discretionary accruals. Collectively, our results suggest that institutional shareholders’ monitoring activities benefit auditors by reducing audit risk. This paper also shows that the negative effect of investors’ limited attention on corporate monitoring can be somewhat mitigated by auditors.
Publisher: Informa UK Limited
Date: 21-06-2016
Publisher: Springer Science and Business Media LLC
Date: 21-08-2018
Publisher: American Accounting Association
Date: 09-2018
DOI: 10.2308/ACCR-52280
Abstract: Using brokerage mergers and closures as two sources of exogenous shock to analyst coverage, this study explores the causal effect of analyst coverage on ex ante expected crash risk as captured by the options implied volatility smirk. We find a significant increase in a firm's ex ante expected crash risk subsequent to an exogenous drop in analyst coverage this positive effect is stronger for firms initially receiving less coverage. Further, we find analysts' ability matters to investors' assessment of future crash risk. Specifically, we find the impact is more pronounced for the coverage terminations of analysts with more firm-specific or general experience, with greater access to resources, or whose prior forecasts are more accurate than those of their peers. Overall, our results suggest that investors in the options market do recognize analysts as important information intermediaries and monitors and, thus, that analyst coverage influences the underlying stock's expected crash risk. JEL Classifications: G12 M41.
Publisher: Springer Science and Business Media LLC
Date: 04-07-2017
Publisher: Wiley
Date: 13-05-2015
DOI: 10.1111/JBFA.12117
Publisher: F1000 Research Ltd
Date: 22-04-2020
DOI: 10.12688/F1000RESEARCH.20559.1
Abstract: Structural bioinformatics provides the scientific methods and tools to analyse, archive, validate, and present the biomolecular structure data generated by the structural biology community. It also provides an important link with the genomics community, as structural bioinformaticians also use the extensive sequence data to predict protein structures and their functional sites. A very broad and active community of structural bioinformaticians exists across Europe, and 3D-Bioinfo will establish formal platforms to address their needs and better integrate their activities and initiatives. Our mission will be to strengthen the ties with the structural biology research communities in Europe covering life sciences, as well as chemistry and physics and to bridge the gap between these researchers in order to fully realize the potential of structural bioinformatics. Our Community will also undertake dedicated educational, training and outreach efforts to facilitate this, bringing new insights and thus facilitating the development of much needed innovative applications e.g. for human health, drug and protein design. Our combined efforts will be of critical importance to keep the European research efforts competitive in this respect. Here we highlight the major European contributions to the field of structural bioinformatics, the most pressing challenges remaining and how Europe-wide interactions, enabled by ELIXIR and its platforms, will help in addressing these challenges and in coordinating structural bioinformatics resources across Europe. In particular, we present recent activities and future plans to consolidate an ELIXIR 3D-Bioinfo Community in structural bioinformatics and propose means to develop better links across the community. These include building new consortia, organising workshops to establish data standards and seeking community agreement on benchmark data sets and strategies. We also highlight existing and planned collaborations with other ELIXIR Communities and other European infrastructures, such as the structural biology community supported by Instruct-ERIC, with whom we have synergies and overlapping common interests.
Publisher: Elsevier BV
Date: 10-2021
Publisher: Wiley
Date: 19-01-2023
DOI: 10.1111/ACFI.13056
Abstract: The Securities and Exchange Commission has associated readability with a range of linguistic features largely determined by the language style of the information producers, including sentence length and the use of personal pronouns, familiar words, surplus words and active voice. We examine the impact of a firm's workforce ethnic ersity on its financial statement readability. Based on linguistic literature, we argue that a more erse workforce increases the linguistic heterogeneity of the inputs into financial statements, hindering financial statement readability. We show that financial statement readability decreases with the ethnic ersity of the workforce, and that this effect is more pronounced for firms located in a community with a high crime rate or low social capital. We also find that the market reacts less to the earnings surprises of firms with less readable financial statements. We further find that the impact of white‐collar employee ersity on readability is greater than that of blue‐collar employee ersity. The results of robustness tests suggest that workplace ersity does not reduce firms' overall information production quality, which rules out the alternative explanation that employee ersity hinders financial statement readability through increasing employee conflict and communication errors. Overall, our study suggests that workforce ersity is an important determinant of financial statement readability.
Publisher: American Accounting Association
Date: 2017
DOI: 10.2308/AJPT-51670
Abstract: This study examines whether auditors regard market pressure on client management as contributing to audit risk. The literature suggests that when management jobs are threatened by negative market reaction to poor mergers and acquisitions investment, managers are more likely to misstate financial statements in the post-investment period due to pressure on their job security (Bens, Goodman, and Neamtiu 2012). We find that firms under such investment-related pressure experience larger increases in audit fees and audit lags in the post-investment period. Our findings suggest that auditors perceive market pressure on client management as a risk factor, as recommended by Statement on Auditing Standards (SAS) No. 99.
Publisher: Wiley
Date: 15-04-2020
DOI: 10.1111/ACFI.12642
Publisher: Elsevier BV
Date: 04-2016
No related grants have been discovered for Yangxin Yu.