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作者：De Franco, Gus; Hope, Ole-Kristian; Vyas, Dushyantkumar; Zhou, Yibin
作者单位：University of Toronto; University of Texas System; University of Texas Dallas
摘要：Using an extensive database of 356,463 sell-side equity analysts' reports from 2002 to 2009, this study is one of the first to analyze the readability of analysts' reports. We first examine the determinants of variations in analyst report readability. Using several proxies for ability, we show that reports are more readable when issued by analysts with higher ability. Second, we test the relation between analyst report readability and stock trading volume reactions. We find that trading volume...
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作者：Smith, Michael J.
作者单位：Boston University
摘要：This study shows that in the presence of privately informed firms the optimal level of conservatism may result in failing to finance good projects or abandoning successful ones inefficiently often compared to a no private information benchmark. The result holds for a pre-investment signal and a post-investment signal with and without renegotiation. Without private information, good firms implicitly subsidize bad ones. Privately informed good firms will not provide this subsidy. The good firms'...
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作者：van Rinsum, Marcel
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：In this discussion of Bol, Hecht and Smith (this issue; BHS), I examine their theory and experimental setting with the purposes of investigating how their study generalizes and identifying further research possibilities. First, I discuss the uncontrollable events the study addresses, which are influenceable and require innovative effort to prevent adverse effects. What follows next is an analysis of experimental design choices and their implications. In particular, results could be specific to...
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作者：Hewitt, Max; Tarca, Ann; Yohn, Teri Lombardi
作者单位：Indiana University System; Indiana University Bloomington; University of Western Australia
摘要：Earnings items are typically classified in financial reports based on their persistence and measurement subjectivity. Archival research examines investors' use of persistence and measurement subjectivity classifications for forecasting and valuation. However, this research typically examines only one of these classifications at a time and ignores the potential interactive implications of an earnings item's persistence and measurement subjectivity classifications. We recruited experienced finan...
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作者：Evans, John Harry, III; Feng, Mei; Hoffman, Vicky B.; Moser, Donald V.; Van der Stede, Wim A.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of London; London School Economics & Political Science
摘要：We provide a list of points to consider (PTCs) to help researchers self-assess whether they have addressed certain common issues that arise frequently in accounting research seminars and in reviewers' and editors' comments on papers submitted to journals. Anticipating and addressing such issues can help accounting researchers, especially doctoral students and junior faculty members, convert an initial empirical accounting research idea into a thoughtful and carefully designed study. Doing this...
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作者：Griffith, Emily E.; Hammersley, Jacqueline S.; Kadous, Kathryn
作者单位：University of Wisconsin System; University of Wisconsin Madison; University System of Georgia; University of Georgia; Emory University
摘要：Auditors and regulators have invested heavily in improving audits of estimates in recent years, but problems in this area persist. We examine the causes of these problems and why they persist. To do so, we interview 24 very experienced auditors about how they audit complex accounting estimates such as fair values and impairments and what problems they experience in the process. We find that auditors overwhelmingly choose to audit the details of management's estimate rather than use other allow...
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作者：Allee, Kristian D.; Lynch, Daniel P.; Petroni, Kathy R.; Schroeder, Joseph H.
作者单位：University of Wisconsin System; University of Wisconsin Madison; Michigan State University; Indiana University System; Indiana University Bloomington
摘要：This study investigates the effect of personal property taxes (PPTs) on real business decisions. Consistent with tax avoidance, we posit that PPTs are associated with decreases (increases) in inventory prior to (following) calendar year-end assessment dates. We empirically test this prediction using monthly crude oil inventory data. We find that in locations where crude oil inventory is subject to taxation, total and refinery-level crude oil inventories are reduced prior to assessment dates an...
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作者：Walker, Stephen P.
作者单位：University of Edinburgh
摘要：Responding to calls to instate the visual in accounting history research, this study utilizes photographic images to reveal the role of accounting in the attempt to preserve an ideal (ruralism) and an institution (the family farm) in the United States. These elemental features of the American way of life were threatened during the interwar depression, resulting in governmental programs to secure their restoration. The analysis of official imagery reveals how the accounting prescriptions attend...
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作者：Brown, Kareen E.
作者单位：Brock University
摘要：This research studies whether severance agreements may reduce fraudulent earnings management, and whether severance pay mitigates executives' career concerns. In a sample of large U.S. firms, those with higher severance pay are less likely to be subject to accounting and auditing enforcement releases (AAERs) by the U.S. Securities and Exchange Commission (SEC). Among S&P 500 firms in the post-SOX period with premanaged earnings below analyst forecasts, firms with higher severance pay are less ...
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作者：Hamm, Sophia J. W.; Jung, Michael J.; Wang, Clare
作者单位：University System of Ohio; Ohio State University; New York University; Northwestern University
摘要：We examine the determinants and outcomes of Chief Executive Officers (CEOs) accepting a $1 salary, a compensation practice that occurs relatively frequently in high-profile firms and is debated by regulators, investors, and the media. Using a hand-collected sample of 93 CEOs from 91 firms between 1993 and 2011, we examine the triggers preceding the $1 salary decision, the factors associated with the decision, subsequent stock returns, and the outcomes for the CEOs. Our evidence is consistent w...
