Frank Zhou

University of Pennsylvania - The Wharton School

3641 Locust Walk

Philadelphia, PA 19104-6365

United States

  • University of Pennsylvania - The Wharton School

SCHOLARLY PAPERS

17

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4,062

SSRN CITATIONS
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Top 27,849

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12

CROSSREF CITATIONS

20

Scholarly Papers (17)

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1.

Prediction versus Inducement and the Informational Efficiency of Going Concern Opinions

Downloads 245 ( 68,897)
Citation 8

Prediction versus Inducement and the Informational Efficiency of Going Concern Opinions

Number of pages: 48 Posted: 03 Jul 2016 Last Revised: 03 Nov 2016
Joseph Gerakos, P. Richard Hahn, Andrei Kovrijnykh and Frank Zhou
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 245 (170,377)
Citation 1

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2.

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 501 (78,063)
Citation 12

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

3.

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
Jacquelyn Gillette, Delphine Samuels and Frank Zhou
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Chicago -- Booth School of Business and University of Pennsylvania - The Wharton School
Downloads 447 (89,437)
Citation 3

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

4.

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: 72 Posted: 28 Jun 2021 Last Revised: 17 Mar 2022
Ed deHaan, Nan Li and Frank Zhou
University of Washington - Michael G. Foster School of Business, University of Toronto - Rotman School of Management and University of Pennsylvania - The Wharton School
Downloads 412 (98,644)

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Financial Reporting; Employee Turnover; Labor Mobility; Job Search; Earnings Announcements; Employee Learning; Glassdoor

5.

Management Forecasts and Competition for Limited Investor Resources

Number of pages: 54 Posted: 19 Apr 2019
Stella Y. Park, Catherine M. Schrand and Frank Zhou
University of Pennsylvania - The Wharton School, University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School
Downloads 335 (124,116)
Citation 4

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comovement, disclosure, guidance, management forecasts, information acquisition

6.

Disagreement About Fundamentals: Measurement and Consequences

Number of pages: 46 Posted: 31 Jan 2020 Last Revised: 21 Jul 2021
Paul E. Fischer, Paul E. Fischer, Chongho Kim and Frank Zhou
University of Pennsylvania - Accounting DepartmentUniversity of Pennsylvania, New York University and University of Pennsylvania - The Wharton School
Downloads 265 (158,217)

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Disagreement, Divergence of Opinion, Expected Returns, Disclosures

7.

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 University of California, Los Angeles (UCLA), Anderson School of Management, Students
Downloads 259 (161,970)
Citation 5

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

8.

Audit Firm Rotation and Misstatements: A Dynamic Discrete Choice Approach

Number of pages: 59 Posted: 08 Dec 2018 Last Revised: 30 Jan 2020
Edwige Cheynel and Frank Zhou
Washington University in St. Louis - John M. Olin Business School and University of Pennsylvania - The Wharton School
Downloads 234 (178,734)
Citation 2

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

9.

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 and University of Pennsylvania - The Wharton School
Downloads 222 (187,744)
Citation 2

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

10.

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 215 (193,527)

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

11.

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
Mirko Stanislav Heinle, Chongho Kim, Daniel J. Taylor and Frank Zhou
University of Pennsylvania - Accounting Department, New York University, The Wharton School, University of Pennsylvania and University of Pennsylvania - The Wharton School
Downloads 203 (204,162)

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disclosure, myopia, earnings forecast

12.

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 202 (205,068)
Citation 1

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

13.

Executive stock options and systemic risk

Downloads 180 (227,007)

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
Chris Armstrong, Allison Nicoletti and Frank Zhou
University of Pennsylvania - Accounting Department, University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School
Downloads 180 (227,078)

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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
Chris Armstrong, Allison Nicoletti and Frank Zhou
University of Pennsylvania - Accounting Department, University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School

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Executive compensation; Equity incentives; Systemic risk; Business cycles

14.

The Dark Side of Reporting Credibility: Evidence from Intangible Investments

Number of pages: 51 Posted: 13 Aug 2020 Last Revised: 21 Jan 2021
Heng Geng, Cheng Zhang and Frank Zhou
Victoria University of Wellington, Victoria University of Wellington and University of Pennsylvania - The Wharton School
Downloads 179 (228,111)

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Reporting Credibility, Disclosure Informativeness, Myopia, Intangible Investments

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 163 (246,830)

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

16.

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
Jacquelyn Gillette, Delphine Samuels and Frank Zhou
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

17.

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 University of California, Los Angeles (UCLA), Anderson School of Management, Students

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