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作者：DeFond, Mark L.
作者单位：University of Southern California
摘要：In their investigation of the new PCAOB Inspections, Lennox and Pittman [Lennox, C., Pittman, J., 2009. Auditing the auditors: evidence on the recent reforms to the external monitoring of the audit firms. Journal of Accounting and Economics, forthcoming] address one of the most important and controversial features of the recent shift from self-regulation to government regulation in the US audit markets. In this paper 1 attempt to place their investigations into the broader auditing and regulat...
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作者：Dechow, Patricia; Ge, Weili; Schrand, Catherine
作者单位：University of Pennsylvania; University of California System; University of California Berkeley; University of Washington; University of Washington Seattle
摘要：Researchers have used various measures as indications of earnings quality including persistence, accruals, smoothness, timeliness, loss avoidance, investor responsiveness, and external indicators such as restatements and SEC enforcement releases. For each measure, we discuss causes of variation in the measure as well as consequences. We reach no single conclusion on what earnings quality is because quality is contingent on the decision context. We also point out that the quality of earnings is...
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作者：Chan, K. Hung; Lin, Kenny Z.; Mo, Phyllis L. L.
作者单位：Lingnan University
摘要：We investigate whether a departure from a tax-based accounting system toward the adoption of International Financial Reporting Standards encourages tax noncompliance. We also examine whether such a departure, which weakens book-tax conformity, affects the informativeness of book-tax differences for tax noncompliance. Our evidence suggests that as book-tax conformity decreases, tax noncompliance increases. Although book-tax differences remain informative of tax noncompliance, the informativenes...
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作者：Francis, Jere R.; Martin, Xiumin
作者单位：Washington University (WUSTL); University of Missouri System; University of Missouri Columbia
摘要：We investigate if timely loss recognition is associated With acquisition-investment decisions. Using a Basu (1997) piece-wise linear regression model, we find that firms with more timely incorporation of economic losses into earnings make more profitable acquisitions, measured by the bidder's announcement returns and by changes in post-acquisition operating performance. These firms are also less likely to make post-acquisition divestitures (consistent with better ex ante investment decisions),...
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作者：Armstrong, Christopher S.; Guay, Wayne R.; Weber, Joseph P.
作者单位：University of Pennsylvania; Massachusetts Institute of Technology (MIT)
摘要：We review recent literature on the role of financial reporting transparency in reducing governance-related agency conflicts among managers, directors, and shareholders, as well as in reducing agency conflicts between shareholders and creditors, and offer researchers some suggested avenues for future research. Key themes include the endogenous nature of debt contracts and governance mechanisms with respect to information asymmetry between contracting parties, the heterogeneous nature of the inf...
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作者：Brickley, James A.; Zimmerman, Jerold L.
作者单位：University of Rochester
摘要：This paper argues that academics, politicians, and the media have six commonly held but misguided beliefs about corporate governance. While Armstrong et al. (2010) discuss some of these misconceptions, a wider recognition that these beliefs are actually myths is important. They include: (1) a common definition of corporate governance exists; (2) a useful distinction is internal versus external governance mechanisms; (3) outside directors perform two separable roles: to advise and monitor manag...
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作者：Li, Chan; Sun, Lili; Ettredge, Michael
作者单位：University of Kansas; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of North Texas System; University of North Texas Denton
摘要：This study attempts to provide a comprehensive understanding of the interrelationships among chief financial officers' (CFOs') professional qualifications, SOX Section 404 internal control weakness, CFOs' turnover, CFOs' qualification improvement, and correction of material weaknesses. We find that firms receiving initial adverse SOX 404 opinions for 2004 have less qualified CFOs. Adverse SOX 404 opinion recipients experience more CFO turnover in 2005, and these firms are more likely to hire C...
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作者：Altamuro, Jennifer; Beatty, Anne
作者单位：University System of Ohio; Ohio State University
摘要：Internal control regulation effectiveness remains controversial given the recent financial Crisis. To address this issue we examine the financial reporting effects of the Federal Depository Insurance Corporation Improvement Act (FDICIA) internal control provisions. Exemptions from these provisions for banks with assets under $500 million and for non-US banks provides two unaffected control samples. Our difference-indifferences method suggests that FDICIA-mandated internal control requirements ...
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作者：Hanlon, Michelle; Heitzman, Shane
作者单位：Massachusetts Institute of Technology (MIT); University of Oregon
摘要：In this paper, we present a review of tax research. We survey four main areas of the literature: (1) the informational role of income tax expense reported for financial accounting, (2) corporate tax avoidance, (3) corporate decision-making including investment, capital structure, and organizational form, and (4) taxes and asset pricing. We summarize the research areas and questions examined to date and what we have learned or not learned from the work completed thus far. In addition, we provid...
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作者：Lewellen, Jonathan
作者单位：Dartmouth College
摘要：The literature on accounting anomalies and fundamental analysis provides important insights into the behavior of stock prices and the relation between accounting numbers and firm value. My review discusses five key topics from this literature: (1) discriminating between risk and mispricing explanations for return anomalies; (2) estimating the implied cost of capital; (3) inferring investors' perceptions of the earnings process; (4) understanding the importance of trading costs and firm size; a...
