Biases in Accounting and Nonaccounting Information: Substitutes or Complements?

• 成果类型: Article
• 署名作者: Jiang, Xu
• 署名单位: Duke University
• 刊物名称: JOURNAL OF ACCOUNTING RESEARCH
• ISSN/ISSBN: 0021-8456
• DOI: 10.1111/1475-679X.12153
• 发表日期: 2016
• 页码: 1297-1330
• 关键词: EARNINGS-ANNOUNCEMENT DRIFT; FUTURE EARNINGS; FULLY REFLECT; stock-prices; conservatism; disclosure; STANDARDS; management; CONTRACTS; IMPACT

摘要

This paper studies how bias in nonaccounting and in accounting information should be related. Bias in accounting information is modeled, as in some recent literature, as an alteration in the relative information content of accounting numbers. The optimal bias in one type of information is shown to be a complement of the bias in the other type. This result can be applied in various settings to explain a number of phenomena.