3期

最新文章

• The influence of ownership on accounting information expenditures AI翻译
  作者：Eldenburg, Leslie G.; Krishnan, Ranjani
  作者单位：University of Arizona; Michigan State University
  摘要：This paper analyzes the association among ownership, top management incentives, and expenditures on accounting information. We argue that organizations with privately appointed boards of directors such as for-profit and nongovernmental nonprofit organizations use incentive pay practices that encourage managers to use accounting information to improve performance. In contrast, government organizations are publicly governed and are constrained in their compensation practices because hospital CEO...
• Does the SOX definition of an accounting expert matter? The association between audit committee directors' accounting expertise and accounting conservatism AI翻译
  作者：Krishnan, Gopal V.; Visvanathan, Gnanakumar
  作者单位：Lehigh University; George Mason University
  摘要：The Sarbanes-Oxley Act mandates the disclosure of whether at least one member of the audit committee is a financial expert. However, the final version of the rule adopted by the Securities and Exchange Commission (SEC) defined experts to include both accounting and nonaccounting experts. Did the SEC do the right thing? Are the nonaccounting experts just as competent as the accounting experts in enhancing the quality of financial reporting? For a sample of S&P 500 firms, we examine whether the ...
• Contracting on contemporaneous versus forward-looking measures: An experimental investigation AI翻译
  作者：Farrell, Anne M.; Kadous, Kathryn; Towry, Kristy L.
  作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Emory University
  摘要：We experimentally examine how employees' employment horizons (long or short) and the performance measures in their incentive contracts (forward-looking or contemporaneous) affect employee effort allocation and performance. Consistent with economic theory, we find that the decision-influencing benefits of forward-looking contracts decrease as employees' employment horizons increase toward the firm's profitability horizon. Importantly, we extend this theory to predict decision facilitating benef...
• Debiasing scale compatibility effects when investors use nonfinancial measures to screen potential investments AI翻译
  作者：Jackson, Kevin E.
  作者单位：University of Illinois System; University of Illinois Urbana-Champaign
  摘要：Screening potential investments involves dividing a set of companies into those that are suitable to consider for investment and those that are less desirable (Kinder 2005). In this paper, I document that nonprofessional investors (represented by MBA students) are susceptible to scale compatibility effects when implementing an investment screen using nonfinancial measures. Such effects occur when investors rely more on a scale-compatible, nonfinancial measure whose values directly map into inv...
• Investors' differential reaction to positive versus negative earnings surprises AI翻译
  作者：Pinello, Arianna Spina
  作者单位：University System of Georgia; Georgia State University
  摘要：Archival studies document an asymmetrically strong market reaction to positive vis-a-vis negative earnings surprises. This finding appears inconsistent with the well-known effect of loss aversion and remains unexplained. I posit that this pattern can arise when investors' earnings expectations do not coincide with analyst forecasts. Numerous studies document optimistic biases in analyst forecasts, so if investors perceive such optimism, their earnings expectations will be lower than analyst fo...