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Accounting Policy Similarity and Active vs. Passive Institutional Investors.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Accounting Policy Similarity and Active vs. Passive Institutional Investors./
Author:	Edwards, Reginald.
Description:	1 online resource (82 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-12(E), Section: A.
Contained By:	Dissertation Abstracts International79-12A(E).
Subject:	Business administration. -
Online resource:	click for full text (PQDT)
ISBN:	9780438125513

Accounting Policy Similarity and Active vs. Passive Institutional Investors.
Edwards, Reginald.

Accounting Policy Similarity and Active vs. Passive Institutional Investors. - 1 online resource (82 pages)

Source: Dissertation Abstracts International, Volume: 79-12(E), Section: A.

Thesis (Ph.D.)--University of Michigan, 2018.

Includes bibliographical references

I examine the differential effects of similarity in accounting policy disclosures by firms on investment by active and passive institutional investors. I develop a novel measure of accounting similarity based on the textual disclosure of firms' accounting policies from their annual reports. I find that, among firms with less similar textual descriptions of their accounting policies, investment by active institutions is higher than that of passive institutional investors. This suggests that these investors have a real or perceived information advantage in investing in firms with less comparable accounting. To establish causality, I use a difference-in differences approach that relies on the plausibly exogenous introduction of an accounting rule change, which is likely to decrease accounting similarity, and the rule's subsequent reversal. My paper offers novel evidence on an under-explored relation between the textual properties of accounting disclosures and investor preferences.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780438125513Subjects--Topical Terms:

1148568
Business administration.
Index Terms--Genre/Form:

554714
Electronic books.

Accounting Policy Similarity and Active vs. Passive Institutional Investors.
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245 1 0 $a Accounting Policy Similarity and Active vs. Passive Institutional Investors.
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300 $a 1 online resource (82 pages)
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500 $a Source: Dissertation Abstracts International, Volume: 79-12(E), Section: A.
500 $a Advisers: Raffi J. Indjejikian; Venkatesh K. Nagar.
502 $a Thesis (Ph.D.)--University of Michigan, 2018.
504 $a Includes bibliographical references
520 $a I examine the differential effects of similarity in accounting policy disclosures by firms on investment by active and passive institutional investors. I develop a novel measure of accounting similarity based on the textual disclosure of firms' accounting policies from their annual reports. I find that, among firms with less similar textual descriptions of their accounting policies, investment by active institutions is higher than that of passive institutional investors. This suggests that these investors have a real or perceived information advantage in investing in firms with less comparable accounting. To establish causality, I use a difference-in differences approach that relies on the plausibly exogenous introduction of an accounting rule change, which is likely to decrease accounting similarity, and the rule's subsequent reversal. My paper offers novel evidence on an under-explored relation between the textual properties of accounting disclosures and investor preferences.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Business administration. $3 1148568
655 7 $a Electronic books. $2 local $3 554714
690 $a 0310
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a University of Michigan. $b Business Administration. $3 1181140
773 0 $t Dissertation Abstracts International $g 79-12A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10902944 $z click for full text (PQDT)