Frank Zhou

University of Pennsylvania - The Wharton School

3641 Locust Walk

Philadelphia, PA 19104-6365

United States

SCHOLARLY PAPERS

20

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5,418

SSRN CITATIONS
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Top 20,906

in Total Papers Citations

26

CROSSREF CITATIONS

22

Scholarly Papers (20)

1.

Financial Reporting and Employee Job Search

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper , Rotman School of Management Working Paper No. 3868281
Number of pages: 77 Posted: 28 Jun 2021 Last Revised: 07 Dec 2022
Ed deHaan, Nan Li and Frank Zhou
Stanford Graduate School of Business, University of Toronto - Rotman School of Management and University of Pennsylvania - The Wharton School
Downloads 778 (50,064)

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Financial reporting; Employee turnover; Labor mobility; Job search; Earnings announcements; Employee learning; Glassdoor

Prediction versus Inducement and the Informational Efficiency of Going Concern Opinions

Number of pages: 48 Posted: 03 Jul 2016 Last Revised: 03 Nov 2016
Tuck School of Business at Dartmouth College, Arizona State University (ASU) - School of Mathematical and Statistical Sciences, Arizona State University (ASU) and University of Pennsylvania - The Wharton School
Downloads 266 (176,876)
Citation 1

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3.

Disclosure Dynamics and Investor Learning

Number of pages: 53 Posted: 14 Feb 2017 Last Revised: 08 Mar 2020
Frank Zhou
University of Pennsylvania - The Wharton School
Downloads 541 (80,034)
Citation 12

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Persistence of disclosure decisions, Earnings forecasts, Investor learning, Parameter uncertainty, Bayesian estimation, Dynamics of disclosures

4.

The Effect of Credit Ratings on Disclosure: Evidence from the Recalibration of Moody’s Municipal Ratings

Number of pages: 66 Posted: 16 Apr 2018 Last Revised: 10 Apr 2020
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Chicago -- Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 467 (95,770)
Citation 6

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Municipal Bonds, Municipal Disclosure, Credit Ratings, Moody’s Recalibration, Underwriters, Single Audit Act

5.

Management Forecasts and Competition for Limited Investor Resources

Number of pages: 54 Posted: 19 Apr 2019
University of Pennsylvania - The Wharton School, University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School
Downloads 392 (117,405)
Citation 5

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comovement, disclosure, guidance, management forecasts, information acquisition

6.

Auditor Tenure and Misstatements: Evidence from a Dynamic Oligopoly Model

Number of pages: 65 Posted: 08 Dec 2018 Last Revised: 12 Feb 2023
Edwige Cheynel and Frank Zhou
Washington University in St. Louis - John M. Olin Business School and University of Pennsylvania - The Wharton School
Downloads 299 (157,505)
Citation 2

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Structural estimation; auditor tenure; mandatory audit firm rotation; misstatements; conditional choice probabilities; dynamic discrete choice

7.

Disagreement About Fundamentals: Measurement and Consequences

Number of pages: 46 Posted: 31 Jan 2020 Last Revised: 06 Dec 2022
University of Pennsylvania - Accounting DepartmentUniversity of Pennsylvania, New York University and University of Pennsylvania - The Wharton School
Downloads 294 (160,338)

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Disagreement, Divergence of Opinion, Expected Returns, Disclosures

8.

Inconsistent Disclosures

Number of pages: 81 Posted: 15 Mar 2021 Last Revised: 08 Oct 2021
Yichang Liu, Joshua Madsen and Frank Zhou
University of Minnesota - Twin Cities, University of Minnesota - Twin Cities - Carlson School of Management and University of Pennsylvania - The Wharton School
Downloads 291 (162,035)

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Inconsistent disclosure, financial regulation, hedge funds, Form ADV, limited attention, public information

9.

The Dog that Didn't Bark: Limited Price Efficiency and Strategic Nondisclosure

Number of pages: 58 Posted: 07 Aug 2017 Last Revised: 30 Jan 2020
Frank Zhou and Yuqing Zhou
University of Pennsylvania - The Wharton School and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 290 (162,594)
Citation 5

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Mispricing of Nonguidance; Limited Attention; Short-selling Constraints; Voluntary Disclosure

10.

Long-Term Information in the Decision to Provide a Short-Term Forecast

NYU Stern School of Business Forthcoming
Number of pages: 39 Posted: 20 Oct 2020
University of Pennsylvania - Accounting Department, New York University, The Wharton School, University of Pennsylvania and University of Pennsylvania - The Wharton School
Downloads 265 (178,365)

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disclosure, myopia, earnings forecast

Executive stock options and systemic risk

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 48 Posted: 01 May 2020 Last Revised: 16 Oct 2021
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School
Downloads 262 (179,594)

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Executive compensation; Equity incentives; Systemic risk; Business cycles

Executive stock options and systemic risk

Journal of Financial Economics (JFE), Forthcoming
Posted: 18 Oct 2021
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School

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Executive compensation; Equity incentives; Systemic risk; Business cycles

12.

The Economic Consequences of Financial Certifier Competition

Number of pages: 46 Posted: 19 Nov 2018 Last Revised: 05 Aug 2021
Heng Geng, Cheng Zhang and Frank Zhou
Victoria University of Wellington, Victoria University of Wellington - Te Herenga Waka and University of Pennsylvania - The Wharton School
Downloads 251 (188,192)
Citation 2

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Certifier competition; Interest cost; Conflict of interest; Service quality; Syndicated lending

13.

Financial Reporting Quality and Myopic Investments: Theory and Evidence

Number of pages: 73 Posted: 13 Aug 2020 Last Revised: 25 Oct 2022
Heng Geng, Cheng Zhang and Frank Zhou
Victoria University of Wellington, Victoria University of Wellington - Te Herenga Waka and University of Pennsylvania - The Wharton School
Downloads 247 (191,934)

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Financial reporting quality; Earnings response coefficient; Measurements; Myopia; Intangible investments; Patents; Real effects; Innovations

14.

Analysts’ Underreaction to Employee Business Outlooks

Rotman School of Management Working Paper No. 3409397
Number of pages: 48 Posted: 24 Jun 2019
Nan Li, M.H. Franco Wong and Frank Zhou
University of Toronto - Rotman School of Management, University of Toronto - Rotman School of Management and University of Pennsylvania - The Wharton School
Downloads 237 (198,978)
Citation 3

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employee business outlooks, social media, analyst forecasts, fundamental analysis, underreaction, market anomaly

15.

Culture and the Historical Persistence of Minority Shareholder Expropriation

Number of pages: 54 Posted: 18 Feb 2021 Last Revised: 15 Jul 2021
Gu Zhihui, Wei Sun and Frank Zhou
Nankai University - Business School, University of International Business and Economics and University of Pennsylvania - The Wharton School
Downloads 228 (206,438)

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Minority shareholder expropriation; Tunneling; Culture; Confucianism; Historical Persistence

16.

Fraud Power Laws

Number of pages: 67 Posted: 11 Dec 2022
Washington University in St. Louis - John M. Olin Business School, HEC Paris - Accounting and Management Control Department and University of Pennsylvania - The Wharton School
Downloads 112 (372,247)

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heavy tails, corporate fraud, earnings manipulation, punishment, zero tolerance

17.

Why Are Voluntary Disclosure Decisions Persistent? Evidence From Bayesian Hierarchical Modeling

Number of pages: 62 Posted: 25 Jul 2022
Chongho Kim, Tanya Paul and Frank Zhou
New York University, University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 105 (389,315)

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Management forecasts; Structural state dependence; Bayesian estimation; Disclosure dynamics

18.

Carrot or Stick? The Impact of Regulatory Leniency on Municipal Disclosure Compliance

Number of pages: 51 Posted: 29 Sep 2022 Last Revised: 09 Feb 2023
University of Miami - Department of Accounting, University of Chicago -- Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 93 (422,010)

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Municipal Bonds, Municipal Disclosure, Regulatory Amnesty, Municipal Underwriters

19.

The Effect of Credit Ratings on Disclosure: Evidence from the Recalibration of Moody's Municipal Ratings

Journal of Accounting Research, Volume 58, Issue 3, 2020
Posted: 02 Jul 2020
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Chicago -- Booth School of Business and University of Pennsylvania - The Wharton School

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municipal bonds; municipal disclosure; credit ratings; Moody’s recalibration; underwriters; Single Audit Act

20.

The Dog that Did Not Bark: Limited Price Efficiency and Strategic Nondisclosure

Journal of Accounting Research, Volume 58, Issue 1, March 2020
Posted: 09 Mar 2020
Frank Zhou and Yuqing Zhou
University of Pennsylvania - The Wharton School and The Chinese University of Hong Kong (CUHK) - CUHK Business School

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mispricing of nonguidance; limited attention; short-selling constraints; voluntary disclosure