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作者：Bonsall, Samuel B.; Koharki, Kevin; Watson, Luke
作者单位：University System of Ohio; Ohio State University; Washington University (WUSTL); State University System of Florida; University of Florida
摘要：This study investigates the role of tax avoidance in the credit-rating process and whether differences exist in how rating agencies account for the risk relevance of tax avoidance. Using a sample of initial credit ratings assigned to public debt issuances during 1994-2013, our evidence is consistent with Moody's Investors Service and Standard & Poor's assessing the costs and benefits associated with tax avoidance differently from one another, resulting in more frequent and pronounced rating ag...
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作者：Carter, Mary Ellen; Franco, Francesca; Gine, Mireia
作者单位：Boston College; University of London; London Business School; University of Navarra; IESE Business School
摘要：Using a large sample of executives in S&P 1500 firms over 1996-2010, we document significant salary and total compensation gaps between female and male executives and explore two possible explanations for the gaps. We find support for greater female risk aversion as one contributing factor. Female executives hold significantly lower equity incentives and demand larger salary premiums for bearing a given level of compensation risk. These results suggest that females' risk aversion contributes t...
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作者：Rupar, Kathy
作者单位：State University System of Florida; University of Florida
摘要：I investigate whether the alignment between individual investors' expectations about forecast precision and actual forecast precision affects their estimates of firm value, and whether this relationship is mediated by individual investors' perceptions of management credibility and future firm growth. Experimental results confirm that when expected and actual forecast precision align, individual investors estimate higher firm stock prices than when expected and actual forecast precision do not ...
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作者：Griffin, Paul A.; Lont, David H.; Sun, Estelle Y.
作者单位：University of California System; University of California Davis; University of Otago; Boston University
摘要：This study finds that investors price firms' greenhouse gas (GHG) emissions as a negative component of equity value, and this valuation discount does not differ between firms that voluntarily disclose to the Carbon Disclosure Project (CDP) and nondisclosing firms. We derive the GHG emissions for nondisclosers from an estimation model that incorporates firm characteristics and industry. The finding that investors view CDP amounts and estimates of emissions as equally value-relevant suggests tha...
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作者：Abbott, Lawrence J.; Gunny, Katherine; Pollard, Troy
作者单位：University of Wisconsin System; University of Wisconsin Milwaukee; University of Colorado System; University of Colorado Denver; University of Alabama System; University of Alabama Tuscaloosa
摘要：We use reverse mergers to examine the impact of litigation risk on audit fees. In a reverse merger, a private company merges with a public company, and the private company's management takes over the resulting publicly traded firm. Reverse mergers create a unique test setting to provide estimates on the litigation risk premium because, while the litigation risk for formerly private firms whose equity becomes publicly traded increases, the remaining auditee- and auditor-related characteristics ...
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作者：Cooper, David J.; Ezzamel, Mahmoud; Qu, Sandy Q.
作者单位：University of Alberta; Cardiff University; IE University; York University - Canada
摘要：We explore how the Balanced Scorecard (BSC), as a management accounting technique, was developed and marketed as a general management practice. Drawing on actor network theory (ANT), we analyze interviews with key actors associated with the BSC, insights gained from attending BSC training workshops, and other documentary evidence to construct a history of the BSC. Our historical analysis offers theoretical tools to understand how the various features of the accounting technique were translated...
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作者：Dyreng, Scott D.; Mayew, William J.; Schipper, Katherine
作者单位：Duke University
摘要：We study managers' interventions in financial reporting by examining working capital deficits, measured as current ratios less than 1.0. Current ratios represent important balance sheet liquidity indicators to lenders and creditors, and have an identifiable and naturally occurring reference point at 1.0, analogous to the profit/loss income statement reference point. We find that distributions of reported current ratios of both U.S. and non-U.S. firms exhibit a discontinuity at 1.0. For U.S. fi...
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作者：Wang, Laura W.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：I use a laboratory experiment to examine the productive and counterproductive effects of providing employees nonpecuniary recognition based on measures of relative performance. I find that, on average, recognition programs increase both productive efforts (those intended to increase one's own performance) and counterproductive efforts (those intended to decrease peer performance) in a setting where it is salient to employees that they can exert both productive and counterproductive efforts. In...
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作者：Asay, H. Scott; Brown, Tim; Nelson, Mark W.; Wilks, T. Jeffrey
作者单位：University of Iowa; University of Illinois System; University of Illinois Urbana-Champaign; Cornell University; Brigham Young University
摘要：Accountants making judgments with respect to a particular set of standards are increasingly aware of standards from other reporting regimes that offer additional or conflicting guidance. In fact, IFRS encourages reliance on out-of-regime standards when IFRS lacks guidance. This paper reports the results of two experiments which provide evidence that auditors in such circumstances are vulnerable to contrast effects, whereby reporting judgments under IFRS are systematically influenced away from ...
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作者：Griffin, Paul A.; Lont, David H.; Sun, Estelle Y.
作者单位：University of California System; University of California Davis; University of Otago; Boston University
摘要：This study finds that investors price firms' greenhouse gas (GHG) emissions as a negative component of equity value, and this valuation discount does not differ between firms that voluntarily disclose to the Carbon Disclosure Project (CDP) and nondisclosing firms. We derive the GHG emissions for nondisclosers from an estimation model that incorporates firm characteristics and industry. The finding that investors view CDP amounts and estimates of emissions as equally value-relevant suggests tha...
