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作者：Kim, Young Hoon; Li, Yinghua; Wang, Dechun
作者单位：George Mason University; Arizona State University; Arizona State University-Tempe; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：We examine whether audit partner individualism reduces earnings comparability in the United States. We argue that individualistic audit partners are more likely to deviate from internal working rules and allow clients more flexibility in making accounting choices, consequently decreasing their clients' earnings comparability. Using a novel partner-level measure of individualism, we find that within individual Big 4 audit firms, earnings are less comparable between a company audited by an indiv...
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作者：Cowx, Mary; Glenn, Jennifer L.; Kielty, Patrick; Mcguire, Sean T.
作者单位：Arizona State University; Arizona State University-Tempe; University System of Ohio; Ohio State University; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：This study uses valuation allowances (VAs) for deferred tax assets to examine whether hedge fund activists (HFAs) use and affect financial reporting of income taxes. Specifically, we investigate whether HFAs target firms with VAs and whether target firms are more likely to release VAs post-intervention. We find that the existence, magnitude, and increases in VAs increase the marginal probability that HFAs will target a firm by between 12% and 24%. We also find that target firms are 4.6% more l...
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作者：Fu, Siwen; Wang, Ke; Zhang, Liandong; Zheng, Liu
作者单位：Chinese Academy of Sciences; University of Science & Technology of China, CAS; University of Alberta; Singapore Management University; City University of Hong Kong
摘要：Securities litigation risk is a well-recognized yet underexplored source of financial reporting complexity or unreadability. This study examines the effect of litigation risk on the readability of corporate financial reports. The 1999 Silicon Graphics Inc. (SGI) court ruling unexpectedly reduced litigation risk for firms within the Ninth Circuit Court's jurisdiction. Using a difference-in-differences design centered on the SGI court ruling, we find that, while the readability of financial repo...
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作者：Blaufus, Kay; Milde, Michael; Schaefer, Marcel
作者单位：Leibniz University Hannover
摘要：In three experiments, we examine how the widespread phenomenon of overwithholding affects retirement savings and how the additional option at tax time of saving retroactively for retirement affects total savings levels. Our results show that overwithholding significantly reduces retirement savings. We show that this outcome can be explained by individuals' anchoring on their take-home pay when making savings decisions and by individuals' reduced motivation to save in the presence of overwithho...
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作者：Bamber, Matthew; Nappert, Pier-Luc
作者单位：York University - Canada; Laval University
摘要：Management teams often avoid answering questions during conference call question and answer sessions (Q&As). Viewing this as an information asymmetry issue, accounting scholars have suggested that this behavior is ill-advised and that non-answers signal to investors the suppression of bad news. In this article, we demonstrate that this argument lacks nuance. Instead, we argue that answers and non-answers necessarily coexist and are codependent. Our contribution stems from our social interactio...
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作者：Kuester, Stephan; Steindl, Tobias; Goettsche, Max
作者单位：Free University of Berlin; University of Regensburg
摘要：This study provides empirical evidence that key audit matters (KAMs) are informative for future negative accounting outcomes. We employ FinBERT-a deep learning model designed for natural language processing that allows human-like text comprehension-to demonstrate that goodwill-related KAMs are predictive of firms' future impairments. Our findings reveal that utilizing KAMs as a stand-alone predictor for future impairments provides meaningful predictive power. By exploring the semantic content ...
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作者：Fredriksson, Antti; Hay, David; Karjalainen, Jukka; Maghakyan, Arpine; Niemi, Lasse
作者单位：University of Turku; University of Auckland; Aalto University; University of Eastern Finland; University of Glasgow
摘要：This study examines whether better performance on the Certified Public Accountant (CPA) exam is associated with an auditor's career success and whether any relation differs based on gender. Our study adds to prior studies on the career development of auditors by showing that the auditor's performance on the exam predicts success during the auditor's career. Although there is little difference in the average CPA exam scores of male versus female auditors, we document gender differences in the r...
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作者：Kim, Yongtae; Pinto, Jedson; Sul, Edward
作者单位：Santa Clara University; University of Texas System; University of Texas Dallas; George Washington University
摘要：This paper examines how a change in disclosure regulation influences investors' information acquisition and trading across multiple markets. We leverage the 2007 elimination of the Form 20-F reconciliation requirement for cross-listed firms that prepare financial statements under IFRS. Using a difference-in-differences research design, we show that investors acquire fewer Form 20-Fs of IFRS-reporting cross-listed firms when these forms are not filed in a timely manner relative to the home-coun...
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作者：Backof, Ann G.; Christensen, Brant E.; Glover, Steven M.; Schmidt, Jaime J.
作者单位：University of Virginia; Brigham Young University; University of Texas System; University of Texas Austin
摘要：In this study, we leverage judgment decomposition and information acquisition theories to develop and test an intervention to improve group auditors' identification of and response to component-level qualitative risk. Improving group auditors' response to qualitative risk is important because (1) group audits are prevalent today and require multiple qualitative risk assessments, (2) auditors have historically overlooked qualitative risks, and (3) prior interventions have failed to improve audi...
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作者：Wilson, Mark; Zhang, Lijuan
作者单位：Australian National University
摘要：We examine the extent to which the distribution of corporate shareholdings affects seasonality in realized returns and the resulting implications for the conditions under which information asymmetry (IA) appears to be priced. Earlier studies have found that IA attracts a return premium only for firms with low competition for their stock, as proxied by the number of common shareholders or the number and concentration of institutional holdings. However, we demonstrate that the association betwee...
