-
作者：Chen, Kevin C. W.; Tang, Feng
作者单位：Hong Kong University of Science & Technology; Hong Kong Polytechnic University
摘要：International Financial Reporting Standards (IFRS) allow firms to record adjustments (gains or losses) from the revaluation of investment properties in their income statements. After Hong Kong adopted IFRS in 2005, property companies were required to move their revaluation gains and losses (RGL) from equity to income. We find RGL to be a significant determinant of executive compensation in these firms after 2005, but not before. We further find evidence that the RGL-compensation association is...
-
作者：Davies, Stephen P.; Johnson, Laurence E.; Lowensohn, Suzanne
作者单位：Colorado State University System; Colorado State University Fort Collins
摘要：Governments' net assets balances are viewed as a measure of fiscal health and have been linked to municipal credit ratings. This study explores the extent to which ambient socioeconomic factors are captured in aggregated restricted and unrestricted net assets balances (termed liquid net assets) to understand why such balances are relevant to credit analysts and others. We model liquid net assets balances using observable nonaccounting factors (e.g., unemployment rates) to learn whether they re...
-
作者：Johnston, Rick; Petacchi, Reining
作者单位：University of Alabama System; University of Alabama Birmingham; Georgetown University
摘要：The Securities and Exchange Commission (SEC) reviews company filings (10-Q, 10-K, S-1, etc.) submitted to them. If a review identifies potential deficiencies, the SEC staff sends the company a comment letter seeking clarification, additional information, and ultimately, perhaps, revision of the filing or future filings. We examine the content, resolution, and ensuing informational consequences of SEC comment letters. The content analysis shows that nearly half of all comments involve accountin...
