4期

最新文章

• Does Tax Planning Affect Analysts' Forecast Accuracy? AI翻译
  作者：Francis, Jere R.; Neuman, Stevanie S.; Newton, Nathan J.
  作者单位：Maastricht University; University of Technology Sydney; University of Missouri System; University of Missouri Columbia; State University System of Florida; Florida State University
  摘要：We investigate whether firms' tax planning affects the accuracy of analysts' forecasts. Tax planning can exacerbate the complexity of firms' operations through strategic choices to exploit tax laws. Because of its effect on firms' operations, tax planning can influence analysts' efforts to understand and forecast earnings. Specifically, if the additional complexity arising from tax planning makes firm attributes less representative of expected earnings, analysts may issue less accurate forecas...
• Does XBRL Adoption Constrain Earnings Management? Early Evidence from Mandated US Filers AI翻译
  作者：Kim, Jeong-Bon; Kim, Joung W.; Lim, Jee-Hae
  作者单位：City University of Hong Kong; Nova Southeastern University; University of Hawaii System; University of Hawaii Manoa
  摘要：We examine whether the use of eXtensible Business Reporting Language (XBRL) for financial reporting (i.e., interactive data submissions) reduces earnings management during the period of XBRL implementation by the SEC. Using a sample of mandated XBRL filers, we compare the magnitude of absolute discretionary accruals in the XBRL adoption quarters with that in the non-adopting quarters. We also take advantage of staggered (three-stage phase-in) XBRL implementations to perform difference-in-diffe...
• Accounting Standards Harmonization and Financial Integration AI翻译
  作者：Dhaliwal, Dan; He, Wen; Li, Yan; Pereira, Raynolde
  作者单位：University of Arizona; University of Queensland; University of Melbourne; University of Missouri System; University of Missouri Columbia
  摘要：We empirically examine whether adopting a uniform set of accounting standards mitigates information frictions in financial markets and facilitates market integration. Using a difference-in-difference design, we find that after the mandatory adoption of IFRS local stock returns incorporate more global information and at a faster speed. The effect of IFRS adoption is stronger in countries where there are larger improvements in accounting comparability and for firms with a larger increase in fore...
• CEO Hedging Opportunities and the Weighting of Performance Measures in Compensation Contracts AI翻译
  作者：Hung, Shengmin; Pan, Hunghua; Wang, Taychang
  作者单位：Soochow University; National Tsing Hua University; National Taiwan University
  摘要：This study examines the rather controversial practice of managerial hedging, which allows CEOs to delink their compensation from stock price performance. We presume that boards are aware of these practices and adjust the weights placed on accounting-based and stock-based performance measures in executive compensation contracts to mitigate the problem. Empirically, we find that, in the presence of managerial hedging opportunities, accounting-based performance measures receive more weight, where...
• Discussion of Professional Directors and Governance Quality AI翻译
  作者：Maber, David A.
  作者单位：California State University System; California Polytechnic State University San Luis Obispo
• When Do Qualitative Risk Disclosures Backfire? The Effects of a Mismatch in Hedge Disclosure Formats on Investors' Judgments AI翻译
  作者：He, Yanan; Tan, Hun-Tong; Yeo, Feng; Zhang, Jixun
  作者单位：Shanghai Lixin University of Accounting & Finance; Nanyang Technological University; University of South Carolina System; University of South Carolina Columbia; Nankai University
  摘要：Disclosure standards mandate the quantitative disclosure of hedging-instrument-related risks but not the disclosure of hedged-item-related risks. We examine how a match (mismatch) in formats, caused by making quantitative (qualitative) hedged item disclosures alongside quantitative hedging instrument disclosures, affects investors' integration of information from these two related disclosures. Our first experiment varies the hedged item disclosure format (quantitative or qualitative) and the p...
• Does Audit Committee Accounting Expertise Help to Promote Audit Quality? Evidence from Auditor Reporting of Internal Control Weaknesses AI翻译
  作者：Lisic, Ling Lei; Myers, Linda A.; Seidel, Timothy A.; Zhou, Jian
  作者单位：Virginia Polytechnic Institute & State University; University of Tennessee System; University of Tennessee Knoxville; Brigham Young University; University of Hawaii System; University of Hawaii Manoa
  摘要：In this study, we examine whether audit committee accounting expertise helps to promote audit quality by motivating auditors to conduct diligent internal control audits and make appropriate internal control assessments because audit committee accounting expertise safeguards auditors from dismissal following adverse internal control opinions. Among clients with existing and likely internal control material weaknesses (as proxied by future restatements of audited financial statements), we find a...
• Investor Overreaction to Earnings Surprises and Post-Earnings-Announcement Reversals AI翻译
  作者：Bathke, Allen W., Jr.; Mason, Terry W.; Morton, Richard M.
  作者单位：State University System of Florida; Florida State University; Kansas State University
  摘要：Prior literature suggests that the market underreacts to the positive correlation in a typical firm's seasonal earnings changes, which leads to a post-earnings-announcement drift (PEAD) in prices. We examine the market reaction for a distinct set of firms whose seasonal earnings changes are uncorrelated and show that the market incorrectly assumes that the earnings changes of these firms are positively correlated. We also document that positive (negative) seasonal earnings changes in the curre...
• Forecast Accuracy and Consistent Preferences for the Timing of Information Arrival AI翻译
  作者：Hofmann, Christian; Rothenberg, Naomi R.
  作者单位：University of Munich; University of Alberta
  摘要：We study a principal's choice of whether to produce an imperfect forecast about a firm's outcome either before or after an agent's effort choice. The early forecast affects the agent's effort choice, which means the forecast can also be used to infer information about the effect of the agent's effort on outcome. The late forecast is more accurate because, by working hard, the agent also learns about productivity, implying that the late forecast has an additional performance measurement role. W...