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作者：Ohlson, James A.; Aier, Jagadison K.
作者单位：New York University; George Mason University
摘要：This paper revisits the whys and hows of cash flows analysis. In a context of equity valuation, we consider three aspects. First, we consider why there is demand for an analysis of cash flows that complements generally accepted accounting principles' (GAAP's) income statement. The issues here pertain to the ambiguity inherent in accruals, primarily due to current and past nonrecurring items, and how one assesses the quality of earnings. Second, we suggest how an analysis of cash flows should b...
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作者：Vafeas, Nikos
作者单位：University of Cyprus
摘要：This paper examines whether the stock market values accounting education. Studying 616 controller appointments between 1993 and 2005 and using event-study methodology, I find evidence that the appointment of controllers with an accounting degree elicits a more favorable stock market response compared with the appointment of controllers without an accounting degree. This effect stems from outside appointments. Among accounting graduates, the market reacts more favorably when the degree is award...
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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...
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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...
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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...
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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...
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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...
