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作者：Ge, Weili; Matsumoto, Dawn; Wang, Emily Jing; Zhang, Jenny Li
作者单位：University of Washington; University of Washington Seattle; Hong Kong University of Science & Technology; University of British Columbia
摘要：We examine the stock market consequences of disclosing accounting irregularities for U.S.-listed foreign firms. After controlling for the severity of the irregularity and other firm characteristics, we find that foreign firms experience significantly more negative short-window stock market reactions following irregularity announcements than do U.S. firms. Moreover, for a subsample of 64 irregularities of foreign firms that are listed on both a U.S. and home country stock exchange, we find evid...
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作者：Hope, Ole-Kristian; Yue, Heng; Zhong, Qinlin
作者单位：University of Toronto; BI Norwegian Business School; Singapore Management University; Renmin University of China
摘要：We examine the impact of China's anti-corruption campaign on firm-level financial reporting quality (FRQ). As an important component of the anti-corruption campaign, in October 2013, Rule 18 was issued to prohibit party and government officials from serving as directors for publicly listed firms. The regulation led to a large number of official directors resigning from their roles as directors involuntarily. As such, Rule 18 has effectively weakened, if not fully discontinued, the political co...
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作者：Da Costa, Fabio Moraes; Liu, Carol; Rosa, Gina Cavalier; Tiras, Samuel L.
作者单位：FUCAPE Business School; Arizona State University; Arizona State University-Tempe; University of Louisiana System; University of New Orleans; Indiana University System; Indiana University Bloomington
摘要：Bagnoli and Watts (2005) proposed that a manager could reduce information asymmetry by choosing an income-decreasing accounting choice that signals the firm's relatively good future prospects. A limitation in testing this theory is that most income-decreasing accounting choices over time reverse such that aggregated earnings would be the same, regardless of the choice. One income-decreasing accounting choice that never reverses is the choice of upward asset revaluation, where the resulting gai...
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作者：Neuman, Stevanie S.; Omer, Thomas C.; Schmidt, Andrew P.
作者单位：University of Missouri System; University of Missouri Columbia; University of Nebraska System; University of Nebraska Lincoln; North Carolina State University
摘要：This study uses insights from tax practitioners and tax authorities to define and develop an estimate of ex ante tax risk that is independent of common tax outcomes studied in prior literature. Validation tests confirm that our tax risk measure (i) represents the predictable and unpredictable uncertainty inherent in the three sources of tax risk (i.e., economic risk, tax law uncertainty, and inaccurate information processing) and (ii) is a construct different from tax avoidance, tax uncertaint...
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作者：Fedyk, Tatiana; Singer, Zvi; Sougiannis, Theodore
作者单位：University of San Francisco; Universite de Montreal; HEC Montreal; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：We combine a fundamental property of accruals and a behavioral phenomenon to provide an explanation for the accrual anomaly. The fundamental property is accruals that originate must subsequently reverse. The behavioral phenomenon is individuals tend to underestimate the variance of noisy signals in various domains of decision making. We argue that originating accruals represents a noisier signal than reversing accruals because the uncertainty of whether originating accruals will eventually con...
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作者：Ege, Matthew; Glenn, Jennifer L.; Robinson, John R.
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：We investigate whether reviews of transactional filings by the SEC unexpectedly constrain SEC resources, leading to lower quality comment letters for periodic reports. The Sarbanes-Oxley Act requires the SEC to review periodic reports (e.g., 10-Ks) at least once every three years. However, the SEC also reviews transactional filings (e.g., initial public offerings and acquisitions), which are unpredictable and often occur in waves. We find comment letters for periodic reports are of lower quali...
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作者：Bens, Daniel; Huang, Sterling; Tan, Liang; Wongsunwai, Wan
作者单位：INSEAD Business School; Singapore Management University; Virginia Polytechnic Institute & State University; Chinese University of Hong Kong
摘要：We exploit an influential 1991 Delaware court ruling to examine simultaneously two types of conservatism that play important roles in resolving creditor-owner agency conflicts: contracting conservatism and reporting conservatism. The ruling expanded managerial fiduciary duties in favor of creditors for Delaware-incorporated firms in the vicinity of insolvency. In those firms, following the ruling, debt contracts are less likely to include conservative adjustments to accounting numbers used for...
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作者：Becker, Sebastian D.; Messner, Martin; Schaeffer, Utz
作者单位：Hautes Etudes Commerciales (HEC) Paris; University of Innsbruck
摘要：Previous studies on accounting innovations emphasize the key role played by innovators and other core actors in theorizing and popularizing such innovations. This paper extends this literature by drawing attention to the role of actors who occupy a more peripheral position within the innovation-based field. We regard accounting innovations as strategic action fields, in which core and peripheral actors interact to shape the trajectory of the innovation. In contrast to core actors, peripheral a...
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作者：Guggenmos, Ryan D.; van der Stede, Wim A.
作者单位：Cornell University; University of London; London School Economics & Political Science; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Peking University
摘要：Creativity and innovation have been identified by senior executives as some of the most desired characteristics of corporate culture. Accordingly, managers strive to build these cultures within their organizations. However, research in psychology suggests that these attempts may have unintended negative consequences. In this study, I predict and find that managers in a more (versus less) innovative company culture will engage in higher levels of real earnings management (REM). I then test two ...
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作者：Daoust, Laurence; Malsch, Bertrand
作者单位：Universite de Montreal; HEC Montreal; Queens University - Canada
摘要：Auditees can play an active role in influencing staff auditors' professional judgment and skepticism. Yet, although it constitutes one of the main threats to auditor independence, very little is known about the means and extent of auditees' power during the audit engagement. To address this knowledge gap, our study focuses on a specific category of auditees, namely, auditees who have worked as auditors in large accounting firms. We interviewed 36 of these auditees and triangulated our findings...
