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作者：Kim, Jeong-Bon; Wang, Zheng; Zhang, Liandong
作者单位：University of Waterloo; City University of Hong Kong
摘要：This study examines the association between chief executive officer (CEO) overconfidence and future stock price crash risk. Overconfident managers overestimate the returns to their investment projects and misperceive negative net present value (NPV) projects as value creating. They also tend to ignore or explain away privately observed negative feedback. As a result, negative NPV projects are kept for too long and their bad performance accumulates, which can lead to stock price crashes. Using ...
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作者：Johnson, Eric N.; Lowe, D. Jordan; Reckers, Philip M. J.
作者单位：University of Wyoming; Arizona State University; Arizona State University-Tempe
摘要：This study reports on an experiment conducted to assess the influence of different affective mood states on auditors' ability to resist obedience pressure to commit or overlook unethical acts in six audit contexts. Obedience pressure from superiors to comply with unethical directives is of particular concern in public accounting, given the hierarchical structure of audit teams and the power imbalance in superior-subordinate relationships. One hundred and seventy audit seniors from two large in...
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作者：Chen, Qiu
作者单位：University of Ottawa
摘要：This study examines whether three factors-the transparency of expense disclosures, donor evaluation focus, and organization performance-influence how directors monitor management expense misreporting in nonprofit organizations. An experiment with 189 nonprofit directors finds that the enhanced transparency of expense disclosures increases director monitoring by reducing the tendency to accept management expense misreporting. Further, an organization's nonfinancial performance and the perceived...
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作者：Bratten, Brian; Payne, Jeff L.; Thomas, Wayne B.
作者单位：University of Kentucky; University of Oklahoma System; University of Oklahoma - Norman
摘要：In this study we examine whether the reported performance of one firm affects the discretionary reporting behavior of another firm. We do this by identifying the leader within each industry, defined as the first large announcing firm. We find that the discretionary performance of followers (those firms announcing after the leader) relates positively to the leader's reported performance. Specifically, when the leader misses analysts' expectations, followers report lower discretionary accruals, ...
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作者：Markle, Kevin
作者单位：University of Iowa
摘要：This paper tests for differences in the tax-motivated income-shifting behaviors of multinationals subject to different systems of taxing foreign earnings. I find that, on average, multinationals subject to territorial tax regimes shift more income than those subject to worldwide tax regimes. The difference in shifting, however, is driven by a difference in the subset of shifting that involves the parent country; multinationals in the two groups appear to shift equally among their foreign affil...
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作者：Gao, Feng
作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark
摘要：This paper documents how firms exercise discretion in defining affiliates and reporting public float in response to Securities and Exchange Commission regulations. I find that firms with higher expected compliance costs under section 404 of the Sarbanes-Oxley Act of 2002 tend to classify more shares as affiliated and report lower public float. In contrast, firms issuing seasoned equity are less likely to underreport public float, possibly due to favorable regulatory treatment for large issuers...
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作者：Louis, Henock; Sun, Amy X.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Houston System; University of Houston
摘要：We examine acquiring managers' opportunistic reporting behavior around stock-for-stock acquisitions. Using the timing of merger announcements and completions to infer managerial intent, we show that acquirers with the most inflated earnings tend to announce mergers on Fridays, and that they manage earnings several quarters before the merger announcement date. Friday announcers exhibit a stronger negative association between pre-merger announcement abnormal accruals and post-merger announcement...
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作者：Gao, Xinghua; Jia, Yonghong
作者单位：Governors State University
摘要：We test whether internal control weaknesses (ICWs) endanger cash resources that manifests in a lower value of cash. Our results indicate that investors value liquid assets in ICW firms substantially less than they do in non-ICW firms. The negative valuation effect of weak internal control mainly concentrates on ICWs related to the control environment or overall financial reporting process. While firms remediating ICWs reverse the value loss from holding cash, firms whose internal control deter...
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作者：Johnstone, David
作者单位：University of Sydney
摘要：It is widely held that better financial reporting makes investors more confident in their predictions of future cash flows and reduces their required risk premia. The logic is that more information leads necessarily to more certainty, and hence lower subjective estimates of firm beta or covariance with other firms. This is misleading on both counts. Bayesian logic shows that the best available information can often leave decision makers less certain about future events. And for those cases whe...
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作者：Kachelmeier, Steven J.; Thornock, Todd A.; Williamson, Michael G.
作者单位：University of Texas System; University of Texas Austin; Iowa State University; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We find that the effectiveness of piece-rate compensation relative to fixed pay in a laboratory letter-search task hinges on the presence or absence of a nonbinding statement to participants that the experimenter values correct responses. In the absence of the value statement, participants with piece-rate rewards for correct responses generate more correct and incorrect responses than do their counterparts with fixed pay, correcting errors as they go along to maximize compensation. Essentially...
