Competition Culture and Corporate Finance: A Measure of Firms' Competition Culture Based on a Textual Analysis of 10-K Filings

ISBN-13: 9783031301551 / Angielski

Terry Harris

Spis treści

Chapter 1 Introduction. - Chapter 2 Literature Review: What is Culture? - Chapter 3 Literature Review: What is Textual Analysis, and can we use it to Measure Corporate Culture? - Chapter 4 Institutional Investors and Competition Culture. - Chapter 5 Competition Culture and Performance. - Chapter 6 Competition Culture and Crash Risk. - Chapter 7 Competition Culture and Meeting/Beating Analysts’ Earnings Forecasts. - Chapter 8 Competition Culture and Earnings Management. - Chapter 9 Competition Culture and Bank Lending. - Chapter 10 Conclusion

O autorze

Terry Harris is an Associate Professor at Durham University Business School, Durham University, United Kingdom. He received his Bachelor’s degree (double major) in Computer Science and Accounting, a Master of Philosophy (MPhil) in Computer Science focusing on Machine Learning, a professional accounting designation with the Association of Chartered Certified Accountants (ACCA), and a Doctor of Philosophy (PhD) in Finance. Terry has engaged in theoretical and applied research and publications primarily focused on the impact of corporate culture on firms’ economic outcomes.  In this vein, he has co-authored and published the articles entitled “Institutional Ownership and Firms’ Thrust to Compete” in the British Journal of Management and “Measuring firms’ market orientation using textual analysis of 10-K filings” also in the British Journal of Management.

Blurb

“I highly recommend ‘Competition Culture and Corporate Finance’ to anyone interested in understanding the role of corporate culture in the field of finance. Dr. Terry Harris provides valuable insights into the impact of competition culture on various phenomena in corporate finance, including stock return performance, idiosyncratic stock price crash risk, meeting/beating analysts’ earnings expectations, and earnings management activity. The findings have significant policy implications and will be of interest to regulators, accounting standard-setters, managers, and those charged with firm governance.”

— Laurence Ferry, Professor of Accounting, Durham University, United Kingdom

“If you’re interested in understanding the complex relationship between corporate culture, competition, and financial outcomes, then Dr. Terry Harris’s book, ‘Competition Culture and Corporate Finance,’ is a must-read. Using innovative methods like natural language processing (NPL) and textual analysis of firms’ 10-K filings, Dr. Harris provides an insightful and detailed analysis of the impact of competition culture on various phenomena in corporate finance. The book’s findings shed light on critical issues like institutional ownership structure, stock return performance, idiosyncratic stock price crash risk, meeting/beating analysts’ earnings expectations, and earnings management activity.”

— Omneya Abdelsalam, Professor of Accounting & Finance, Durham University, United Kingdom

This book introduces a measure of firms’ competition culture based on a textual analysis and natural language processing (NPL) of firms’ 10-K filings. Using this measure, the book explores the relationship between competition culture and various phenomena in corporate finance, specifically, institutional ownership structure, stock return performance, idiosyncratic stock price crash risk, meeting/beating analysts’ earnings expectations, earnings management activity, and lending activity, for a large sample of US-based financial and non-financial firms. The findings of the book have significant policy implications and will be of interests to regulators, accounting standard-setters, managers and those charged with firm governance, career academics and researchers, graduates, and those generally interested in the role played by corporate culture in the related fields of finance, economics, and accounting.

Terry Harris is an Associate Professor at Durham University Business School, Durham University, United Kingdom.