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作者：Wysocki, Peter
作者单位：University of Miami
摘要：Recent accounting research has started to investigate the links between corporate compensation and auditor compensation. Engel et al. (2010) take a first step to connect these previously distinct literatures by investigating the association between audit committee pay and audit fees. I discuss the findings of this study and then present complementary empirical evidence on the association between CEO compensation and audit fees. My descriptive empirical evidence Suggests economically large co-v...
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作者：Bargeron, Leonce L.; Lehn, Kenneth M.; Zutter, Chad J.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We empirically examine whether risk-taking by publicly traded US companies declined significantly after adoption of the Sarbanes-Oxley Act of 2002 (SOX). Several provisions of SOX are likely to discourage risk-taking, including an expanded role for independent directors, an increase in director and officer liability, and rules related to internal controls. We find several Measures of risk-taking decline significantly for US versus non-US firms after SOX. The magnitudes of the declines are rela...
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作者：Roychowdhury, Sugata
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Francis and Martin (2009) test whether accounting conservatism induces managers to make better acquisition decisions. This discussion highlights three main issues. First, the hypothesized links between conservatism and future investments are potentially incomplete. In particular, the possibility that conservatism can have dysfunctional outcomes if acquisition decisions are based on anticipated earnings effects is ignored. Second, the evidence is insufficient to infer a causal relation between ...
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作者：Lennox, Clive; Pittman, Jeffrey
作者单位：Nanyang Technological University; Memorial University Newfoundland
摘要：This paper analyzes audit firm Supervision since the Public Company Accounting Oversight Board (PCAOB) began conducting inspections. First, we find that audit clients do not perceive that the PCAOB's inspection reports are Valuable for signaling audit quality. Second, we document that the information content of peer review reports fell after they became narrower in scope with the initiation of PCAOB inspections. Third, we isolate that the signaling role of peer review reports mainly stems from...
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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：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：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：Dechow, Patricia M.; Myers, Linda A.; Shakespeare, Catherine
作者单位：University of California System; University of California Berkeley; University of Arkansas System; University of Arkansas Fayetteville; University of Michigan System; University of Michigan
摘要：Accounting rules for valuing retained interest from securitizations require management to make assumptions concerning discount Fates, default rates, and prepayment rates. These assumptions provide management with discretion to determine the gain on sale of the receivables. We investigate whether CEO compensation is less sensitive to Securitization gains than to other earnings components in the presence of proxies for how independent (Outsiders, females, fewer CEO-selected directors) and inform...
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作者：Engel, Ellen; Hayes, Rachel M.; Wang, Xue
作者单位：University of Chicago; Utah System of Higher Education; University of Utah; Emory University
摘要：We examine the relation between audit committee compensation and the demand for monitoring of the financial reporting process, We find that total compensation and cash retainers paid to audit committees are positively Correlated with audit fees and the impact of the Sarbanes-Oxley Act, Our Proxies for the demand for monitoring. Our results are robust to the inclusion of audit committee quality, measured as the committee chair financial expertise. Our results suggest a recent willingness by fir...
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作者：Heitzman, Shane; Wasley, Charles; Zimmerman, Jerold
作者单位：University of Rochester
摘要：Under GAAP, SEC and exchange listing rules, managers Must disclose material information. We construct a disclosure specification incorporating managers' obligation to disclose material information and voluntary disclosure incentives. We demonstrate that tests of the incentives to voluntarily disclose information Must recognize such information is often disclosed because Of all Underlying duty to disclose. Our empirical tests isolating the impact of materiality on firms' disclosures have greate...
