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作者：Begley, J; Chamberlmn, SL; Li, YH
作者单位：University of British Columbia; Purdue University System; Purdue University
摘要：This paper uses the residual income valuation technique outlined in Feltham and Ohlson 1996 to examine the relation between stock valuations and accounting numbers for a prototypical banking firm. Prior work of this nature typically assumes a manufacturing setting. This paper contributes to the prior research by clarifying how the approach can be extended to settings where value is created from financial assets and liabilities. Key elements of our model include allowing banks to generate posit...
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作者：Hay, DC; Knechel, WR; Wong, N
作者单位：University of Auckland
摘要：We evaluate and summarize the large body of audit fee research and use meta-analysis to test the combined effect of the most commonly used independent variables. The perspective provided by the meta-analysis allows us to reconsider the anomalies, mixed results, and gaps in audit fee research. We find that, although many independent variables have consistent results, several show no clear pattern to the results and others only show significant results in certain periods or particular countries....
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作者：Nwaeze, ET; Yang, SSM; Yin, QJ
作者单位：Rutgers University System; Rutgers University New Brunswick; Adelphi University; University of Texas System; University of Texas at San Antonio
摘要：We examine the role of cash flow from operations (CFO) in chief executive officer (CEO) cash compensation. We predict that CFO is contract-relevant in the presence of earnings, and more so when (1) the quality of earnings relative to the quality of CFO as a measure of performance is low and (2) the need for CFO as a financing source is high. Our analysis is motivated principally by normative arguments and anecdotes from financial disclosures linking CFO to managerial effort and contracts, notw...
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作者：Raedy, JS; Shane, P; Yang, YH
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Colorado System; University of Colorado Boulder
摘要：This paper provides empirical evidence that underreaction in financial analysts' earnings forecasts increases with the forecast horizon, and offers a rational economic explanation for this result. The empirical portion of the paper evaluates analysts' responses to earnings-surprise and other earnings-related information. Our empirical evidence suggests that analysts' earnings forecasts underreact to both types of information, and the underreaction increases with the forecast horizon. The paper...
