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作者：Liao, Scott
作者单位：University of Toronto
摘要：Corporate governance mechanisms designed to alleviate manager-shareholder agency conflicts can worsen shareholder-bondholder conflicts. This study examines how one such corporate governance mechanism, monitoring by large outside shareholders, influences the choice between public and private debt. I conjecture and find that firms with higher outside blockholdings are inclined to choose bank loans over public debt when they borrow, consistent with the notion that banks are better monitors than p...
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作者：Sengupta, Partha; Zhang, Suning
作者单位：United States Department of the Treasury; Office of the Comptroller of the Currency; George Mason University
摘要：We examine the relationship between a firm's disclosure quality and equity-based compensation of independent members of the board of directors. The dimensions of disclosure quality we focus on are management's earnings guidance and information flowthrough financial analysts. Using both levels and changes specifications, we find the average ratio of equity-based pay to total pay of independent board members to be positively related to a firm's disclosure quality. Our findings are robust to the ...
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作者：Hunton, James; Arnold, Vicky; Reck, Jacqueline L.
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作者：Dhaliwal, Dan S.; Lamoreaux, Phillip T.; Lennox, Clive S.; Mauler, Landon M.
作者单位：University of Arizona; Korea University; Arizona State University; Arizona State University-Tempe; Nanyang Technological University; State University System of Florida; Florida State University
摘要：This study investigates the influence of management over auditor selection decisions during a period in which audit committees have direct responsibility for auditor selection. We find that contrary to the intent of Sarbanes-Oxley Act (SOX), management appears to retain significant influence over auditor selection in the subset of companies that select Big 4 auditors and this is not mitigated by higher-quality audit committees. As SOX presumes that management influence over auditor selection l...
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作者：Bol, Jasmijn C.; Hecht, Gary; Smith, Steven D.
作者单位：Tulane University; University of Illinois System; University of Illinois Urbana-Champaign; Brigham Young University
摘要：Discretionary bonus adjustments allow managers to restore the alignment of employee effort and compensation when bonus amounts are based on noisy objective performance measures. The implications of discretionary adjustments for employees' future efforts and fairness perceptions present important trade-offs for managers to consider. Adjustments may be used to motivate different types of effort in future periods, but may also create perceptions of unfairness among employees who are not affected ...
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作者：Filip, Andrei; Labelle, Real; Rousseau, Stephane
作者单位：ESSEC Business School; Universite de Montreal; HEC Montreal; Universite de Montreal
摘要：This article uses the Canadian environment, where French civil law (FCL) in the province of Quebec coexists with common law (CL) in the Rest of Canada (denoted as bijural), to test the thesis of the neutrality of the legal system with regard to financial reporting quality (FRQ). This single-country design allows for a better control over other factors that influence FRQ. The FCL environment appears to encourage firms to publish accounting data of better quality due to the greater liability ris...
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作者：Knechel, W. Robert; Vanstraelen, Ann; Zerni, Mikko
作者单位：State University System of Florida; University of Florida; Maastricht University; University of Jyvaskyla
摘要：This study examines the persistence and economic consequences of variations in reporting style across audit partners in individual engagements. Our results show that both aggressive and conservative audit reporting, measured by the pattern of prior Type 2 and Type 1 audit reporting error rates in auditor-specific clienteles, persist over time and extend to other clients of the same partner. Analyses of abnormal accruals and persistence of client firms' accrual estimates corroborate this findin...
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作者：Hou, Qingchuan; Jin, Qinglu; Yang, Rong; Yuan, Hongqi; Zhang, Guochang
作者单位：Shanghai University of Finance & Economics; Rochester Institute of Technology; Fudan University; Hong Kong University of Science & Technology
摘要：Since the Split Share Structure Reform took effect in China in 2005, holders of nontradable shares (controlling shareholders) have had to negotiate with holders of tradable shares (minority shareholders) to gain the liquidity right. In a typical deal reached, the controlling shareholder agrees to pay share compensation to minority shareholders and, in many cases, also pledges to meet a specific firm performance target (performance commitments). Using this reform setting, we examine the impact ...
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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...
