-
作者：Weber, David P.
作者单位：University of Connecticut
摘要：Recent research reports that book-tax differences are not only informative about future earnings but are also associated with future stock returns. The combination of these results suggests the possibility that investors misprice securities by not fully incorporating taxbased information into their earnings expectations. However, because the stock market's expectations are not observable, predictable future returns may instead simply reflect differences in risk. I exploit financial analysts' e...
-
作者：Gendron, Yves; Spira, Laura F.
作者单位：Laval University; Oxford Brookes University
摘要：This paper aims to improve understanding of the construction of controllability boundaries surrounding the financial audit function through a set of interviews with former members of Arthur Andersen reflecting on the collapse of their firm. Our focus is how members, in light of their firm's downfall, assess the abilities of public accounting firms to control financial audit work and auditor behavior (i.e., organizational controllability), and the abilities of outside, nonaccounting bodies to r...
-
作者：Chin, Chen-Lung; Chi, Hsin-Yi
作者单位：National Chengchi University; National Chung Hsing University
摘要：This paper examines whether the likelihood of accounting restatements is associated with Big 4 industry auditor specialists, measured at both the partner level and the audit firm level. We focus on a sample of listed firms in Taiwan, where audit reports must be audited and signed by the two signing auditors as well as by an audit firm. Extending previous studies, we classify industry specialists into three groups: (a) auditors that are industry specialists at both the individual partner level ...
-
作者：Gassen, Joachim; Skaife, Hollis A.
作者单位：Humboldt University of Berlin; University of Wisconsin System; University of Wisconsin Madison
摘要：We investigate whether audit reforms affect the information role of audits in a country where the audit traditionally serves a statutory reporting function. Specifically, we investigate the audit market effects of audit reforms mandated by the German government in the Act on Control and Transparency of Enterprises (the Act). We test for differences in the types of audit reports issued, the information content of first-time going-concern audit opinions, and the demand for dominant audit supplie...
-
作者：Cram, Donald P.; Karan, Vijay; Stuart, Iris
作者单位：California State University System; California State University Fullerton
摘要：We consider three technical errors in the statistical analysis of choice-based and matched-sample studies in accounting research. These problems constitute threats both to the internal and external validity of the research. First, we note that researchers have often failed to control for the effects of matching variables used in sample selection. Commonly, researchers believe that the selection of a matched sample already controls for the matching variables and hence controlling for them in an...
-
作者：Hirshleifer, David; Teoh, Siew Hong
作者单位：University of California System; University of California Irvine
摘要：We offer here the psychological attraction approach to accounting and disclosure rules, regulation, and policy as a program for positive accounting research. We suggest that psychological forces have shaped and continue to shape rules and policies in two different ways: (1) good rules for bad users-rules and policies that provide information in a form that is useful for users who are subject to bias and cognitive processing constraints; and (2) bad rules-superfluous or even pernicious rules an...
-
作者：Weber, David P.
作者单位：University of Connecticut
摘要：Recent research reports that book-tax differences are not only informative about future earnings but are also associated with future stock returns. The combination of these results suggests the possibility that investors misprice securities by not fully incorporating taxbased information into their earnings expectations. However, because the stock market's expectations are not observable, predictable future returns may instead simply reflect differences in risk. I exploit financial analysts' e...
