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• Relative Performance Evaluation and Earnings Management* AI翻译
  作者：Infuehr, Jakob
  作者单位：University of Southern Denmark
  摘要：Conventional agency theory suggests that firms should benchmark CEO compensation to absorb systemic risk and to more efficiently incentivize executives to work hard. Yet empirical research has found only a modest use of benchmarking in CEO compensation contracts. In this paper, I highlight one weakness of relative performance evaluation (RPE). When earnings management is possible, benchmarking creates stronger incentives for misreporting performance measures compared to benchmark-independent p...
• A Matter of Appearances: How Does Auditing Expertise Benefit Audit Committees When Selecting Auditors?†‡ AI翻译
  作者：Baugh, Matthew; Hallman, Nicholas J.; Kachelmeier, Steven J.
  作者单位：Arizona State University; Arizona State University-Tempe; University of Texas System; University of Texas Austin
  摘要：Literature to date reveals relatively little about the role of expertise in auditor selection beyond basic preferences for Big 4 and industry specialist auditors. We hypothesize that audit committees whose members have no Big 4 auditing experience are likely to struggle when interviewing prospective Big 4 partners, leading such committees to draw on superficial, heuristic cues in lieu of conducting more substantive evaluations. To test this prediction, we obtain independent ratings of the faci...
• Language and Management Forecasts Around the World* AI翻译
  作者：Guan, Yuyan; Wang, Zheng; Wong, M. H. Franco; Xin, Xiangang
  作者单位：Nanyang Technological University; City University of Hong Kong; University of Toronto
  摘要：Speakers of weak future-time reference (FTR) languages perceive the future as closer and more imminent. In this study, we examine the important question of whether the FTR properties of languages spoken by investors affect their demand for forward-looking information, thereby influencing corporate management forecast practices in different countries. We predict that investors who speak weak-FTR languages are more concerned about the future prospects of their investments and the ability of comp...
• Is R&D Really That Special? A Fixed-Cost Explanation for the Empirical Patterns of R&D Firms AI翻译
  作者：Resutek, Robert J.
  作者单位：University System of Georgia; University of Georgia
  摘要：I propose an explanation for the positive relation between R&D, future earnings, and future stock returns based on the fixed-cost qualities of R&D. If R&D is relatively fixed over short horizons, demand shocks realized by some R&D firms will push these firms into R&D intensity levels that are suboptimal as common scale proxies-market equity, assets, and sales-respond more quickly to demand shocks than R&D. In response, R&D firms realizing negative demand shocks reduce future expenses and capit...
• Motivated Perspective Taking: Why Prompting Auditors to Take an Investor's Perspective Makes Them Treat Identified Audit Differences as Less Material* AI翻译
  作者：Altiero, Elizabeth C.; Kang, Yoon Ju; Peecher, Mark E.
  作者单位：State University System of Florida; University of Central Florida; University of Massachusetts System; University of Massachusetts Amherst; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
  摘要：Audit regulators and commentators propose prompting auditors to more fully take an investor's perspective as a remedy to their concern that auditors underreact to material misstatements. By contrast, we predict that prompting auditors in this manner will backfire, making them less (more) heavily weight indicia that misstatements are (not) material. We further predict auditors will apply this asymmetric weighting instrumentally-to a greater degree as needed-to justify management-preferred concl...
• A Tale of Two Supervisors: Compliance with Risk Disclosure Regulation in the Banking Sector* AI翻译
  作者：Bischof, Jannis; Daske, Holger; Elfers, Ferdinand; Hail, Luzi
  作者单位：University of Mannheim; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of Pennsylvania
  摘要：We examine how the presence of multiple supervisory agencies affects firm-level compliance in form and substance with disclosure regulations. This analysis is important because coordination problems among regulators are frequently present in practice but often overlooked in academic research. We exploit that banks are subject to equivalent risk disclosure rules under securities laws (IFRS 7) and banking regulation (Pillar 3 of the Basel II Accord) but that different regulators start enforcing ...
• The Role of Timing and Management's Remediation Actions in Preventing Failed Remediation of Material Weaknesses in Internal Controls* AI翻译
  作者：Imdieke, Andrew J.
  作者单位：University of Notre Dame
  摘要：Prior research finds that signals of remediation of internal control weaknesses do not guarantee that all weaknesses are fully resolved. However, why certain remediation strategies fail is unclear. This study examines how remediation timing and actions affect the likelihood of a failed remediation. I predict and find that the likelihood of a failed remediation is decreasing in both the time a company takes to remediate and in the extent of remediation actions employed. Importantly, this study ...
• Accounting as a Normalizing Tool for Transitional Dirtiness: The Case of the US Adult-Use Cannabis Industry* AI翻译
  作者：Romi, Andrea M.; Carrasco, Heather; Camors, Casey A.; Masselli, John J.
  作者单位：Texas Tech University System; Texas Tech University; Mississippi State University
  摘要：While prior accounting research documents normalizing strategies within the accounting profession and in instances of accounting adoption, the potential of accounting itself as a strategic tool toward normalizing that which is considered socially abnormal (i.e., dirty) remains an important and unexamined area of inquiry. In this study, we conduct in-depth interviews to examine the role accounting plays in the development of the US cannabis industry (CI) as it transitions from the illicit marke...
• Restating Internal Control Reports Following Financial Statement Restatements: Determinants and Consequences* AI翻译
  作者：Feng, Mei; Li, Chan; Raghunandan, K.; Sun, Lili
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Kansas; State University System of Florida; Florida International University; University of North Texas System; University of North Texas Denton
  摘要：After restating their financial statements, companies may voluntarily restate their previously issued internal control (IC) reports for the financial statement (FS) misstatement periods, changing them from effective to ineffective. This paper examines the determinants and consequences of IC restatements, which have been of concern to financial statement users. When announcing these IC restatements, companies often provide a detailed explanation of the IC problems and a discussion of their plan...
• Managerial Career Concerns and Corporate Tax Avoidance: Evidence from the Inevitable Disclosure Doctrine* AI翻译
  作者：Li, Ningzhong; Shevlin, Terry; Zhang, Weining
  作者单位：University of Texas System; University of Texas Dallas; University of California System; University of California Irvine
  摘要：While managers' career concerns have been shown to be influential in shaping their decisions, there is little evidence of the impact such concerns may have on managers' tax avoidance incentives. This study examines the causal effect of managers' career concerns on tax avoidance using the staggered recognition by state courts of the inevitable disclosure doctrine (IDD), a trade secret protection doctrine that places greater restrictions on managers from joining or forming a rival company. We ar...