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作者：Goh, Beng Wee; Lim, Chee Yeow; Lobo, Gerald J.; Tong, Yen H.
作者单位：Singapore Management University; University of Houston System; University of Houston; Nanyang Technological University
摘要：Extant research suggests that conditional conservatism reduces information asymmetry between a firm and its shareholders as well as its debtholders. However, there is little evidence on whether conditional conservatism reduces information asymmetry differentially for shareholders and debtholders. We use the setting of a firm's choice between equity versus debt when it seeks a significant amount of external financing to examine this research question. We find that when firms raise a significant...
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作者：Neel, Michael
作者单位：University of Houston System; University of Houston
摘要：This study examines the associations between four economic outcomes of the 2005 mandatory adoption of International Financial Reporting Standards (IFRS) and concurrent changes in two important accounting constructs, accounting comparability and reporting quality. My primary purpose is to evaluate the relative importance of cross-country accounting comparability and firm-specific reporting quality in explaining previously documented increases in Tobin's Q, stock liquidity, analyst forecast accu...
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作者：Ma, Guang; Markov, Stanimir
作者单位：National University of Singapore; Southern Methodist University
摘要：We investigate to what extent the market uses information that is predictive of whether earnings will meet or beat the analyst consensus forecast of earnings (MBE henceforth): measures of a firm's incentives to engage in MBE behavior, measures of constraints on MBE, measures of past MBE practices by firm and industry, and other variables. Using the Mishkin test framework and Bonferroni-adjusted p-values, we document that of a total of 21 variables, the market inefficiently uses information in ...
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作者：Capps, Greg; Koonce, Lisa; White, Brian J.
作者单位：University of Texas System; University of Texas Austin
摘要：The provision of examples as implementation guidance is pervasive in accounting standards. Prior research has established that preparers engage in example-based reasoning, a tendency to favor the accounting treatment in an example, even when the example does not exactly match the transaction at hand. In this paper, we investigate whether fact-weighting guidance counteracts this tendency. Such guidance, now found in some accounting standards, indicates whether particular transaction facts are m...
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作者：Koonce, Lisa; Lipe, Marlys Gascho
作者单位：University of Texas System; University of Texas Austin; University of South Carolina System; University of South Carolina Columbia
摘要：Although prior research reports that firms that consistently beat their earnings expectations are rewarded with a market-valuation premium, most firms are inconsistent in the sign of their benchmark performance, sometimes missing and sometimes beating. In this paper, we report the results of multiple experiments to test the idea that potential investors, evaluating firms that have inconsistent benchmark performance, use a counting heuristic to discriminate among them. Our results provide stron...
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作者：Blaufus, Kay; Hechtner, Frank; Moehlmann, Axel
作者单位：Leibniz University Hannover; Free University of Berlin
摘要：Using a panel of German income tax accounting data from taxpayers with no business income (employees), we find a negative relationship between tax preparation expenses and tax liabilities. However, preparation expenses are shown to exceed estimated tax savings. Specifically, one additional Euro spent on preparation yields an estimated tax savings of 72 cents in an OLS regression and 24 cents in a fixed effects regression. In addition, we observe substantial heterogeneity in tax savings among i...
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作者：Core, John E.
作者单位：Massachusetts Institute of Technology (MIT)
摘要：In this discussion, I briefly summarize the key features of Bertomeu, Darrough, and Xue's (hereafter BDX) model. I then examine the four key assumptions that BDX employ to arrive at their results: (i) firms contract only on earnings; (ii) conservative earnings are better for contracting; (iii) conservatism motivates upward earnings manipulation; and (iv) conservatism is endogenous. I then briefly conclude.
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作者：Robin, Ashok; Wu, Qiang; Zhang, Hao
作者单位：Rochester Institute of Technology; Rensselaer Polytechnic Institute
摘要：This study examines the impact of auditor quality on financial covenants in debt contracts. We conjecture that high-quality auditors have two related effects on these debt covenants: (i) they encourage fewer and less restrictive covenants by providing assurance to lenders at contract inception and, consequently, (ii) they ensure a lower probability of eventual covenant violations. Consistent with the conjectures, we find that auditor quality is negatively associated with the intensity and tigh...
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作者：Bhattacharjee, Sudip; Moreno, Kimberly K.
作者单位：Virginia Polytechnic Institute & State University; Northeastern University
摘要：While accounting research has demonstrated the role of a decision maker's own emotions during judgments, psychology research proposes that others' emotions provide an informational signal to assess an opponent's limits, cooperativeness, and toughness during bargaining. We examine how a bargaining opponent's emotions provide information signals that can be used by a selling division manager during transfer pricing decisions and whether informal control system choices by corporate management to ...
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作者：Feller, Anna; Schanz, Deborah
作者单位：University of Munich
摘要：The question of why some companies pay fewer taxes than others is a widely investigated topic of interest. One of the well-known explanations is a phenomenon called tax avoidance. We develop a grounded theory model of influences on corporate tax planning through a series of 19 in-depth German tax expert interviews. Our research identifies three independent hurdles in the tax planning process, which can help to explain different levels of tax expense across companies. Those three hurdles sequen...
