EVA-KULT
EVA-KULT Establishing Evidence-based Evaluation Methods for Subsidy Programmes in Germany The project aims at expanding the Centre for Evidence-based Policy Advice at the Halle…
See page
CompNet Database
The CompNet Competitiveness Database The Competitiveness Research Network (CompNet) is a forum for high level research and policy analysis in the areas of competitiveness and…
See page
Tasks
Tasks of the IWH Guided by its mission statement , the IWH places the understanding of the determinants of long term growth processes at the centre of the research agenda. Long…
See page
IWH EXplore
IWH EXplore Competitive Funding for Research Projects with External Involvement at IWH IWH EXplore gives scientists the opportunity to acquire supplemental funding, in addition to…
See page
Projects
Our Projects 07.2022 ‐ 12.2026 Evaluation of the InvKG and the federal STARK programme On behalf of the Federal Ministry of Economics and Climate Protection, the IWH and the RWI…
See page
Disentangling Stock Return Synchronicity From the Auditor's Perspective
Iftekhar Hasan, Joseph A. Micale, Qiang Wu
Journal of Business Finance and Accounting,
forthcoming
Abstract
This paper investigates a firm's stock return asynchronicity through the auditor's perspective to distinguish whether this asynchronicity can proxy for the company's firm-specific information or the quality of its information environment. We find a significant and positive association between asynchronicity and audit fees after controlling for auditor quality and other factors that affect audit fees, suggesting that stock return asynchronicity is more likely to capture a company's firm-specific information than its information environment. We also find that asynchronous firms are more likely to receive adverse opinions on their internal controls over financial reporting, but are associated with lower costs of capital and auditor litigation, providing further evidence in support of the firm-specific information argument. Asynchronicity's positive association with audit fees is driven by firms with higher accounting reporting complexity, suggesting stock return asynchronicity captures a firm's complexity, resulting in more significant efforts by the auditor.
Read article
IWH-DPE Call for Applications – Fall 2022 Intake
Vacancy IWH-DPE Call for Applications – Fall 2022 Intake We encourage outstanding students with a master degree in economics or related fields, such as mathematics, statistics,…
See page
IWH-DPE Call for Applications – Fall 2024 Intake
Vacancy The Halle Institute for Economic Research (IWH) is one of Germany’s leading economic research institutes. The IWH focuses on research in macroeconomics, financial…
See page
IWH-DPE Call for Applications – Fall 2020 Intake
Vacancy The Halle Institute for Economic Research (IWH) is one of Germany’s leading economic research institutes. The IWH focuses on research in macroeconomics, financial…
See page
Internships
Internship at Halle Institute for Economic Research (IWH) Interested in gaining an authentic insight in the interesting daily business and the variable tasks of an institute for…
See page
