2012

最新文章

• Mandatory clawback provisions, information disclosure, and the regulation of securities markets AI翻译
  作者：Denis, Diane K.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
  摘要：Chan et al. (2012) find that voluntary adoption of compensation clawback provisions is followed by fewer financial restatements and fewer auditor reports of material internal control weaknesses, higher earnings response coefficients, and reduced auditing fees and lags. They conclude that voluntary adoption of clawback provisions leads to increased financial integrity. Based on these findings they suggest that U.S. government mandated clawback provisions will be effective in reducing material f...
• Financial reporting frequency, information asymmetry, and the cost of equity AI翻译
  作者：Fu, Renhui; Kraft, Arthur; Zhang, Huai
  作者单位：City St Georges, University of London; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Nanyang Technological University
  摘要：Using hand-collected data on firms' interim reporting frequency from 1951 to 1973, we examine the impact of financial reporting frequency on information asymmetry and the cost of equity. Our results show that higher reporting frequency reduces information asymmetry and the cost of equity, and they are robust towards considerations of the endogenous nature of firms' reporting frequency choice. We obtain similar results when we focus on mandatory changes in reporting frequency. Our results sugge...
• Accounting discretion, loan loss provisioning, and discipline of Banks' risk-taking AI翻译
  作者：Bushman, Robert M.; Williams, Christopher D.
  作者单位：University of Michigan System; University of Michigan; University of North Carolina; University of North Carolina Chapel Hill
  摘要：Examining banks across 27 countries, we estimate two measures of the forward-looking orientation reflected in discretionary loan provisioning practices within a country. We document that forward-looking provisioning designed to smooth earnings dampens discipline over risk-taking, consistent with diminished transparency inhibiting outside monitoring. In contrast, forward-looking provisioning reflecting timely recognition of expected future loan losses is associated with enhanced risk-taking dis...