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作者：Francis, Jere R.
作者单位：University of Missouri System; University of Missouri Columbia
摘要：Ruddock, Taylor, and Taylor (2006) use an earnings conservatism framework to investigate the effects of nonaudit services (NAS) on earnings conservatism, and to test whether audit quality was impaired by NAS in Australia during the 1990s. They find no evidence of differential conservatism conditional on the level of NAS fees paid to auditors, and thus conclude that NAS have no adverse effect on audit quality. While this result may not extrapolate to the U.S. setting due to institutional differ...
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作者：Ruddock, Caitlin; Taylor, Sarah J.; Taylor, Stephen L.
作者单位：University of New South Wales Sydney; University of Melbourne
摘要：We examine whether the provision of nonaudit services (NAS) by incumbent auditors is associated with a reduction in the extent to which earnings reflect bad news on a timely basis (that is, news-based conservatism). Reduced conservatism is expected to occur if relatively high levels of NAS result in reduced auditor independence and, ultimately, lower-quality auditing. Because client-specific demand for NAS is expected to vary, our proxy for the auditor-client economic bond is the extent to whi...
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作者：Lee, Yen-Jung; Petroni, Kathy R.; Shen, Min
作者单位：University System of Georgia; Georgia State University; Michigan State University
摘要：Statement of Financial Accounting Standards No. 130: Reporting Comprehensive Income encourages enterprises to report comprehensive income on a performance statement rather than on a statement of equity. We investigate the reporting decisions of 82 publicly traded property-liability insurers that are fairly evenly split in their choice. Our results demonstrate that insurers with a tendency to manage earnings through realized securities' gains and losses (that is, cherry pickers), as well as ins...
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作者：Yee, Kenton K.
作者单位：Columbia University
摘要：This paper solves a model that links earnings quality to the equity risk premium in an infinite-horizon consumption capital asset pricing model (CAPM) economy. In the model, risk-averse traders hold diversified portfolios consisting of risk-free bonds and shares of many risky firms. When constructing their portfolios, traders rely on noisy reported earnings and dividend payments for information about the risky firms. The main new element of the model is an explicit representation of earnings q...
