日期：2022年11月6日（周日） 地点：腾讯会议

时间：8:30-9:30

主持人：孙健教授（副院长）

论文报告

报告1：Labor market concentration and corporate training disclosure

报告人：金超（香港科技大学）

摘要：Corporate training is critical for human capital accumulation, and the disclosure of corporate training has important implications for employee retention due to poaching concerns. Yet, we know little about the practices and determinants of corporate training disclosure. Motivated by labor economic theory, I hypothesize that firms are more likely to disclose employee training programs when the local labor market is more concentrated (i.e., Firms in a highly concentrated labor market have fewer poaching concerns). Using disclosures from annual financial and nonfinancial reports of 1,656 European firms from 2002 to 2019, I find results that are consistent with my prediction. I also exploit mergers in the local market as exogenous variations in labor market concentration. Additional analysis suggests that training disclosure further facilitates employee retention in concentrated labor markets. Taken together, my findings highlight the role of local labor market concentration in corporate human capital disclosure.

时间：9:30-10:30

报告2：Algorithm-Human Partnership in Audit Data Analytics and Aggressiveness of Management Accounting Estimates

报告人：生沛澍（南洋理工大学）

摘要：Audit firms increasingly incorporate Audit Data Analytics (ADA). However, it is unclear how client managers react to the use of ADA. I experimentally examine how the presence (vs. absence) of an IT specialist and adjustment timing jointly affect the client manager’s acceptance of the ADA result during the client-auditor negotiation process. I manipulate (1) whether the auditor performs ADA independently or the auditor performs ADA working with a specialist, and (2) whether the auditor adjusts the ADA algorithm’s input parameters or output results. I find that when the ADA algorithm’s input (output) is adjusted, client managers accept more (less) proposed audit adjustments in the presence of a specialist. The interaction effect is driven by the client manager’s perceived persuasiveness of the ADA result and perceived auditor expertise. My findings contribute to auditing literature on the use of ADA, auditor-client negotiation, and the “algorithm-human partnership,” and have implications for audit firms and corporate managers.

时间：10:30-11:30

报告3：How would Auditors Perceive and Influence Clients' Environmental Activities?

报告人：李一夫（香港城市大学）

摘要：Auditors have long been criticized for neglecting the impacts of clients’ environment-related matters. Combining negative media coverage of clients’ environmental incidents with audit- office level online job posting data, we find some counter evidence that audit offices indeed respond to clients’ negative environmental incidents by demanding more green human capital timely. The effect only manifests for environmental incidents happening in lower environmental risk industries, suggesting that auditors exhibit varied sensitivity to environmental risks across industries. Our results also imply that client firms that share the same audit office and the same industry as the focal firm proactively increase their environmental disclosures and take more environmental initiatives. Finally, we also document that auditors would charge higher audit fees for their superior environmental knowledge.

时间：11:30-12:30

报告4：Human Capital Effects of Corporate Climate Exposure

报告人：李通（香港大学）

摘要：This paper investigates how firms’ climate change exposures affect their innovative employees. By analyzing climate exposures extracted from conference call transcripts using machine learning, I find that departure rates of inventors are higher for firms that are more exposed to physical climate shocks. After the departure of such high-skilled workers, firms’ innovative productivity declines and subsequent patents become less valuable. Moreover, such a brain drain effect is more pronounced among inventors who are more concerned about climate change and when climate awareness is higher. Overall, the results indicate that physical climate exposure has significant impacts on the mobility of talents across firms and the value of innovative human capital.