Level of business insights in the <scp>MD</scp>&amp;A and nonprofessional investors' judgments

We, Li

doi:10.1111/acfi.12192

Cited by 5 publications

(1 citation statement)

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“…Attribution theory is concerned with how an individual or entity explains the causes of an outcome. In the context of the firm and firm strategy, attributions are usually examined with respect to the top management team (TMT; Baginski, Hassell, & Kimbrough, 2004; Bettman & Weitz, 1983; Lee, Peterson, & Tiedens, 2004; W. Li, 2016; Staw, McKechnie, & Puffer, 1983).…”

Section: Theory and Hypotheses Developmentmentioning

confidence: 99%

Blame You, Blame Me: Exploring Attribution Differences and Impact in Family and Nonfamily Firms

Jayamohan

McKelvie

Moss

2017

Family Business Review

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We explore how publicly listed family and nonfamily firms engage in self-serving attributions in their annual financial reports. We empirically examine how both types of firms emphasize internal attributions for good firm performance (internal-positive attributions) and external attributions for poor firm performance (external-negative attributions). We find that family firms make more external-negative attributions and that the stock market reacts more negatively to external-negative attributions made by family firms. This suggests important theoretical and practical implications for attribution theory and impression management in family firm research.

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Section: Theory and Hypotheses Developmentmentioning

confidence: 99%

Blame You, Blame Me: Exploring Attribution Differences and Impact in Family and Nonfamily Firms

Jayamohan

McKelvie

Moss

2017

Family Business Review

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Examination and implications of experimental research on investor perceptions

Martin

2019

Journal of Accounting Literature

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This paper synthesizes existing experimental research in the area of investor perceptions and offers directions for future research. Investor-related experimental research has grown substantially, especially in the last decade, as it has made valuable contributions in establishing causal links, examining underlying process measures, and examining areas with little available data. Within this review, I examine 121 papers and identify three broad categories that affect investor perceptions: information format, investor features, and disclosure credibility. Information format describes how investors are influenced by information salience, information labeling, reporting and accounting complexity, financial statement recognition, explanatory disclosures, and proposed disclosure changes. Investor features describes investors’ use of heuristics, investor preferences, and the effect of investor experience. Disclosure credibility is influenced by external and internal assurance, management credibility, disclosure characteristics, and management incentives. Using this framework, I summarize the existing research and identify areas that would benefit from additional research.

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