讲座主题：Court Stringency and Voluntary Restatements

　　主讲人：Zhen Lei，The Hong Kong Polytechnic University

　　讲座地点：B226

　　讲座时间：2018年3月23日上午9点30分

　　主办单位：武汉大学经济与管理学院会计系

　　讲座摘要：This paper studies the effect of district court stringency on firms’ propensity to admit their misreporting using different samples of misstated firms. We find robust evidence that firms headquartered in high dismissal rate (lenient) court jurisdictions are more likely to make voluntary restatements. Exogenous shock from the Supreme Court’s Tellabs decision confirms this effect. We consider a range of explanations and find the results are most easily explained by managers using court dismissal rates as a heuristic when making voluntary restatement decisions. Our evidence sheds light on the complicated effect of legal environment on financial reporting quality.

　　个人简介：Zhen Lei is a Ph.D. candidate at the School of Accounting & Finance, Hong Kong Polytechnic University. His research interest covers asset pricing, financial reporting and litigation risk.