4期

最新文章

• Do Audit Teams Affect Audit Production and Quality? Evidence from Audit Teams' Industry Knowledge AI翻译
  作者：Cahan, Steven F.; Che, Limei; Knechel, W. Robert; Svanstrom, Tobias
  作者单位：University of Auckland; Peking University; Peking University Shenzhen Graduate School (PKU Shenzhen); State University System of Florida; University of Florida; Umea University
  摘要：We examine how the extent and distribution of industry knowledge within an audit team affect audit outcomes. While prior research examining the role of auditors' industry knowledge focuses mainly on audit firms, audit offices, and audit partners, audits are conducted by audit teams. Using an audit framework and proprietary data from a Big 4 firm that includes audit hours for each team member, we find that Big 4 audit teams with higher average industry knowledge are associated with more audit e...
• Defining and Managing Corporate Tax Risk: Perceptions of Tax Risk Experts AI翻译
  作者：Bruehne, Alissa I.; Schanz, Deborah
  作者单位：University of Munich
  摘要：We examine the black box of corporate tax risk management by providing unique insights into practitioners' tax risk perceptions, tax risk management practices, and influences leading to variation in tax risk management practices across firms. Opening this black box is important as tax risk has become an increasingly relevant aspect in corporate tax practice-little is yet known about how firms define and manage tax-related risks. We perform our analysis based on 33 expert interviews, which we c...
• The Effect of Reporting Opacity on Trading Opacity: New Evidence from American Depositary Receipt Trades in Dark Pools* AI翻译
  作者：Boulton, Thomas J.; Braga-Alves, Marcus, V; Chakrabarty, Bidisha
  作者单位：University System of Ohio; Miami University; Pace University; Saint Louis University
  摘要：Trading volume is increasingly shifting to dark venues, and the causes of this move are not well understood. We examine whether a firm's reporting opacity affects its dark pool trading and provide robust evidence that (partly) explains this volume migration. Exploiting the exogenous variation in home-country reporting opacity in a sample of American Depositary Receipts (ADRs) and using multiple metrics for reporting opacity, we find that greater opacity associates with increased dark pool trad...
• Examining the Effects of the Tax Cuts and Jobs Act on Executive Compensation AI翻译
  作者：De Simone, Lisa; McClure, Charles; Stomberg, Bridget
  作者单位：University of Texas System; University of Texas Austin; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
  摘要：As part of the Tax Cuts and Jobs Act (TCJA), the US Congress repealed a long-standing exception that allowed companies to deduct executives' qualified performance-based compensation in excess of $1 million. The purpose of this study is to examine whether Congress achieved its stated objective of reversing a shift in executive compensation away from cash compensation and toward performance pay, which Congress believed led executives to focus on short-term results rather than the long-term succe...
• Selective Disclosure, Expertise Acquisition, and Price Informativeness AI翻译
  作者：Jorgensen, Bjorn N.; Li, Jing; Melumad, Nahum D.
  作者单位：Copenhagen Business School; Hanken School of Economics; University of Hong Kong; Columbia University
  摘要：We examine how a firm's disclosure-audience policy affects investors' expertise acquisition and price informativeness in the market. We distinguish the investors' information advantage due to superior access from that due to superior ability to process information. We show that targeted selective disclosure to sophisticated investors may encourage greater expertise acquisition on the part of investors and lead to more informative prices than either public disclosure or untargeted selective dis...
• Political Connections and the Trade-Off Between Real and Accrual-Based Earnings Management AI翻译
  作者：Ahmed, Anwer S.; Duellman, Scott; Grady, Megan
  作者单位：Texas A&M University System; Texas A&M University College Station; Saint Louis University; California State University System; California State University Fullerton
  摘要：We provide evidence on the effect of political connections on the trade-off between real and accrual-based earnings management in the United States. This evidence is important because prior literature documents mixed evidence on whether political connections reduce the threat of SEC enforcement. By studying earnings management with a large sample, our study provides more generalizable insights into the effects of political connections on enforcement. We argue that politically connected firms f...
• Analysts' Book Value Forecasts: Initial Evidence from the Perspective of Real-Options-Based Valuation AI翻译
  作者：Hui, Kai Wai; Liu, Alfred Z.; Schneible, Richard A., Jr.; Zhang, Guochang
  作者单位：University of Hong Kong; State University of New York (SUNY) System; University at Albany, SUNY; Grand Valley State University
  摘要：This study examines the usefulness of analysts' book value forecasts and the economic factors driving analysts' issuance of these forecasts. Guided by the real-options-based valuation model (ROM) of Zhang (2000), we explicitly link book value forecasts to the need for such information in valuation. We first establish that analysts' book value forecasts are superior to forecasts that are mechanically imputed from analysts' own earnings forecasts and those from random walk models and are increme...
• Who Gets to Play Dirty? Using Legitimacy Theory to Examine Investor Reactions to Differing Modes of Corporate Tax Minimization AI翻译
  作者：Gillette, Davidson B.; Stinson, Shane R.
  作者单位：University of North Carolina; East Carolina University; University of Alabama System; University of Alabama Tuscaloosa
  摘要：This study examines how information about a corporation's tax minimization activities and primary operations jointly influence investor behavior. Prior research identifies fear of investor backlash as a primary curb on corporations' tax minimization. However, evidence for such reactions remains mixed. Drawing on the psychological framework of legitimacy theory, we predict and find that the interaction between operations-level validity and tax-level propriety influences investor behavior. For c...
• The Importance of Clarification of Auditors' Responsibilities Under the New Audit Reporting Standards AI翻译
  作者：Backof, Ann G.; Bowlin, Kendall; Goodson, Brian M.
  作者单位：University of Virginia; University of Mississippi; Clemson University
  摘要：Given the uncertainty regarding auditors' responsibilities, standard setters considered the need for clarification of technical terms such as reasonable assurance in the new audit reporting models. The PCAOB ultimately decided to exclude clarifying language from its final standard, while the Auditing Standards Board and IAASB made such language mandatory. Given the difference in reporting models, this study investigates the role clarification of reasonable assurance plays in auditor negligence...
• Walking the Talk? Managing Errors in the Audit Profession AI翻译
  作者：Gold, Anna; Detzen, Dominic; Van Mourik, Oscar; Wallage, Philip; Wright, Arnold
  作者单位：Vrije Universiteit Amsterdam; Norwegian School of Economics (NHH); University of Amsterdam; Northeastern University
  摘要：Errors reflect unintended deviations from plans or goals and commonly carry negative connotations. Although errors cannot be eliminated, they offer opportunities for learning and innovation. Audit firms employ powerful mechanisms, such as review processes, to prevent or detect audit errors and safeguard their work in the public interest. At the same time, the profession recognizes positive long-term outcomes of errors in terms of continuous learning to enhance auditor skills and, ultimately, a...