2-3期

最新文章

• Accounting conservatism and managerial risk-taking: Corporate acquisitions AI翻译
  作者：Kravet, Todd D.
  作者单位：University of Texas System; University of Texas Dallas; University of Connecticut
  摘要：Watts (2003) and Ball and Shivakumar (2005) argue that accounting conservatism decreases managerial incentives to make negative net present value investments. I develop and test a new hypothesis that accounting conservatism is associated with managers making less risky investments. I find that under more conservative accounting managers make less risky acquisitions and that firms with accounting-based debt covenants drive this association. This result is consistent with conservative firms avoi...
• Outside directors and board advising and monitoring performance AI翻译
  作者：Kim, Kyonghee; Mauldin, Elaine; Patro, Sukesh
  作者单位：University of Missouri System; University of Missouri Columbia; Northern Illinois University
  摘要：Divergent views exist about whether boards must tradeoff advising for monitoring performance when utilizing outside versus inside directors. We suggest a dichotomous tradeoff focus underestimates outside directors' impact on board performance. We find outside director tenure positively associated with firm acquisition/investment policy advising performance and CEO compensation monitoring performance, suggesting that advising and monitoring do not always compete for directors' time. However, te...
• Investors' reaction to the use of poison pills as a tax loss preservation tool AI翻译
  作者：Sikes, Stephanie A.; Tian, Xiaoli (Shaolee); Wilson, Ryan
  作者单位：University of Pennsylvania; University System of Ohio; Ohio State University; University of Oregon
  摘要：The recent economic downturn resulted in firms generating significant tax losses, which they risked losing if they experienced an ownership change. In response, a number of loss firms adopted poison pill plans. We document a significant negative market reaction to the announcement of 62 poison pill adoptions related to net operating losses (NOLs), suggesting that in general investors do not consider management's claim that the pills are adopted to preserve a valuable tax asset to be credible. ...
• A review of archival auditing research AI翻译
  作者：DeFond, Mark; Zhang, Jieying
  作者单位：University of Southern California; University of Texas System; University of Texas Dallas
  摘要：We define higher audit quality as greater assurance of high financial reporting quality. Researchers use many proxies for audit quality, with little guidance on choosing among them. We provide a framework for systematically evaluating their unique strengths and weaknesses. Because it is inextricably intertwined with financial reporting quality, audit quality also depends on firms' innate characteristics and financial reporting systems. Our review of the models commonly used to disentangle thes...
• Financial accounting in the banking industry: A review of the empirical literature AI翻译
  作者：Beatty, Anne; Liao, Scott
  作者单位：University System of Ohio; Ohio State University; University of Toronto
  摘要：We survey research on banks' financial accounting. After providing a brief background of the theoretical models and accounting and regulatory institutions underlying the bank accounting literature, we review three streams of empirical research. Specifically we review studies associating bank financial reporting with the valuation and risk assessments, associating bank financial reporting discretion with regulatory capital and earnings management, and examining banks' economic decisions under d...
• Cash flow asymmetry: Causes and implications for conditional conservatism research AI翻译
  作者：Collins, Daniel W.; Hribar, Paul; Tian, Xiaoli (Shaolee)
  作者单位：University of Iowa; University System of Ohio; Ohio State University
  摘要：Earnings asymmetric timeliness captures both accrual and operating cash flow (CFO) asymmetric timeliness. Because recognition of operating cash flows does not reflect differential verification thresholds for recognizing unrealized gains versus losses, CFO asymmetry adds noise or bias to tests of conditional conservatism. We show that CFO asymmetry is predictable in the cross-section, and varies systematically with life-cycle characteristics. Removing CFO from earnings and using accruals-based ...
• Political connections and SEC enforcement AI翻译
  作者：Correia, Maria M.
  作者单位：University of London; London Business School
  摘要：In this study, I examine whether firms and executives with long-term political connections through contributions and lobbying incur lower costs from the enforcement actions by the Securities and Exchange Commission (SEC). I find that politically connected firms on average are less likely to be involved in SEC enforcement actions and face lower penalties if they are prosecuted by the SEC. Contributions to politicians in a strong position to put pressure on the SEC are more effective than others...
• Commitment to social good and insider trading AI翻译
  作者：Gao, Feng; Lisic, Ling Lei; Zhang, Ivy Xiying
  作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; George Mason University; University of Minnesota System; University of Minnesota Twin Cities
  摘要：A firm's investment in corporate social responsibility (CSR) builds a positive image of caring for social good and imposes additional costs on executives' informed trading, which is widely perceived self-serving. We thus expect executives of CSR-conscious firms to be more likely to refrain from informed trading. We find that executives of CSR-conscious firms profit significantly less from insider trades and are less likely to trade prior to future news than executives of non-CSR-conscious firm...