2007

最新文章

• The effect of reporting frequency on the timeliness of earnings: The cases of voluntary and mandatory interim reports AI翻译
  作者：Butler, Marty; Kraft, Arthur; Weiss, Ira S.
  作者单位：Emory University; University of London; London Business School; Columbia University; University of Chicago
  摘要：We examine whether financial reporting frequency affects the speed with which accounting information is reflected in security prices. For a sample of 28,824 reporting-frequency observations from 1950 to 1973, we find little evidence of differences in timeliness between firms reporting quarterly and those reporting semiannually, even after controlling for self-selection. However, firms that voluntarily increased reporting frequency from semiannual to quarterly experienced increased timeliness, ...
• The influence of large clients on office-level auditor oversight: Evidence from the property-casualty insurance industry AI翻译
  作者：Gaver, Jennifer J.; Paterson, Jeffrey S.
  作者单位：University System of Georgia; University of Georgia; State University System of Florida; Florida State University
  摘要：We analyze the loss-reserving practices of 562 insurance companies in 1993 to assess the relation between client influence and auditor oversight. Consistent with Petroni [1992. Management's response to the differential costs and benefits of optimistic reporting in the property-casualty insurance industry. Journal of Accounting and Economics 15, 485-508.], we find that financially struggling insurers tend to under-reserve. However, this behavior is attenuated when the weak insurer is important ...
• Discussion of Asymmetric timeliness of earnings, market-to-book and conservatism in financial reporting AI翻译
  作者：Beatty, Anne
  作者单位：University System of Ohio; Ohio State University
  摘要：Roychowdhury and Watts [2007. Asymmetric timeliness of earnings, market-to-book and conservatism in financial reporting. Journal of Accounting and Economics.] provide a thoughtprovoking discussion of an important topic and consider a controversial role of accounting inconsistent with the valuation perspective of accounting currently adopted by standard setters. The paper uses a contracts-based view of accounting to explain the empirical relation between two measures of conservatism, the market...
• Was the Sarbanes-Oxley Act of 2002 really this costly? A discussion of evidence from event returns and going-private decisions AI翻译
  作者：Leuz, Christian
  作者单位：University of Chicago
  摘要：This paper discusses evidence on the costs of the Sarbanes-Oxley Act (SOX) from stock returns and going-private decisions. Zhang, [2007. Economic consequences of the Sarbanes-Oxley Act of 2002. Journal of Accounting and Economics, doi:10.1016/j.jacceco.2006.07.0021 analyzes returns around legislative events and concludes that SOX imposes significant costs on firms. Engel, et al. [2007. The Sarbanes-Oxley Act and firms' going-private decisions. Journal of Accounting and Economics, doi:10.1016/j...
• Does earnings guidance affect market returns? The nature and information content of aggregate earnings guidance AI翻译
  作者：Anilowski, Carol; Feng, Mei; Skinner, Douglas J.
  作者单位：University of Chicago; Purdue University System; Purdue University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
  摘要：We investigate whether earnings guidance affects aggregate stock returns through its effects on expectations about overall earnings performance and/or aggregate expected returns. We find that aggregate guidance, especially relative levels of quarterly downward guidance, is associated with analyst- and time-series- based measures of aggregate earnings news. We find more modest evidence that guidance, again, largely downward guidance, is associated with market returns-market returns appear to re...