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作者：Atwood, T. J.; Drake, Michael S.; Myers, Linda A.
作者单位：University of Arkansas System; University of Arkansas Fayetteville; State University System of Florida; Florida State University; University System of Ohio; Ohio State University
摘要：Calls for eliminating differences between accounting earnings and taxable income in the US have been debated extensively. Proponents of increased book-tax conformity argue that tax compliance will increase and earnings quality will improve. Opponents argue that earnings quality will decline. We examine whether the level of required book-tax conformity affects earnings persistence and the association between earnings and future cash flows. We develop a comprehensive book-tax conformity measure ...
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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：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：Balakrishnan, Karthik; Bartov, Eli; Faurel, Lucile
作者单位：New York University; University of Pennsylvania; University of California System; University of California Irvine
摘要：We document a market failure to fully respond to loss/profit quarterly announcements. The annualized post portfolio formation return spread between two portfolios formed on extreme losses and extreme profits is approximately 21 percent. This loss/profit anomaly is incremental to previously documented accounting-related anomalies, and is robust to alternative risk adjustments, distress risk, firm size, short sales constraints, transaction costs, and sample periods. In an effort to explain this ...
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作者：Cohen, Daniel A.; Zarowin, Paul
作者单位：New York University
摘要：We show that SEO firms engage in real activities manipulation, and the decline in post-SEO performance due to the real activities management is more severe than that due to accrual management. Our evidence is important, because it shows that post-SEO operating underperformance is driven not just by accrual reversals, but also reflects the real consequences of operational decisions made to manage earnings. We also show how firms' choices of real versus accrual-based earnings management activiti...
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作者：Aboody, David; Johnson, Nicole Bastian; Kasznik, Ron
作者单位：Stanford University; University of California System; University of California Los Angeles; University of California System; University of California Berkeley
摘要：We investigate firms' operating performance subsequent to the repricing of executive and non-executive employee stock options. We find that, relative to non-repricers, repricing firms have a larger increase in operating income and cash flows in subsequent periods. This performance improvement is attributable to the underlying economic determinants of the decision to restore the options' incentive properties. However, only repricings of executive stock options are associated with improvement in...
