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作者：Chhaochharia, Vidhi; Kumar, Alok; Niessen-Ruenzi, Alexandra
作者单位：University of Miami; University of Mannheim
摘要：This paper shows that local institutional investors are effective monitors of corporate behavior. Firms with high local ownership have better internal governance and are more profitable. These firms are also less likely to manage their earnings aggressively or backdate options and are less likely to be targets of class action lawsuits. Further, managers of such firms exhibit a lower propensity to engage in empire building and are less likely to lead the quiet life. Examining the local monitori...
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作者：Barth, Mary E.; Landsman, Wayne R.; Lang, Mark; Williams, Christopher
作者单位：Stanford University; University of North Carolina; University of North Carolina Chapel Hill; University of Michigan System; University of Michigan
摘要：This study examines whether application of IFRS by non-US firms results in accounting amounts comparable to those resulting from application of US GAAP by US firms. IFRS firms have greater accounting system and value relevance comparability with US firms when IFRS firms apply IFRS than when they applied domestic standards. Comparability is greater for firms that adopt IFRS mandatorily, firms in common law and high enforcement countries, and in more recent years. Earnings smoothing, accrual qua...
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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...
