Empirical research on accounting choice

• 成果类型: Article; Proceedings Paper
• 署名作者: Fields, TD; Lys, TZ; Vincent, L
• 署名单位: Northwestern University; Harvard University
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101
• DOI: 10.1016/S0165-4101(01)00028-3
• 发表日期: 2001
• 关键词: earnings management; market valuation; MULTINATIONAL-CORPORATIONS; economic consequences; voluntary disclosure; TEST STATISTICS; BONUS SCHEMES; income; tax; STOCK

摘要

We review research from the 1990s that examines the determinants and consequences of accounting choice, structuring our analysis around the three types of market imperfections that influence managers' choices: agency costs, information asymmetries, and externalities affecting non-contracting parties. We conclude that research in the 1990s made limited progress in expanding our understanding of accounting choice because of limitations in research design and a focus on replication rather than extension of current knowledge. We discuss opportunities for future research, recommending the exploration of the economic implications of accounting choice by addressing the three different reasons why accounting matters. (C) 2001 Published by Elsevier Science B.V.