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作者：Clement, Michael B.; Koonce, Lisa; Lopez, Thomas J.
作者单位：University of Texas System; University of Texas Austin; University of South Carolina System; University of South Carolina Columbia
摘要：Considerable debate exists about what analyst experience measures and whether analysts learn from their experiences. Extant research has argued that once innate ability is considered, analysts' general and firm-specific experiences are not relevant to understanding their forecasting performance. We argue that measures of experience need to be expanded to also include task-specific experience. Our results reveal that analysts' forecast accuracy is associated with both their innate ability and t...
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作者：Drymiotes, George
作者单位：University of Houston System; University of Houston
摘要：Conventional wisdom suggests that giving monitored agents an oversight role may blunt the effectiveness of the monitoring process. In contrast, I show that less independent boards can sometimes be more effective at monitoring. Fully independent boards have incentives to shirk monitoring ex post, after the agents' productive inputs are sunk, if the boards cannot commit ex ante to monitoring. However, boards with inside directors may have incentives to monitor the agents ex post. The demand for ...
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作者：Ittner, Christopher D.; Larcker, David F.; Pizzini, Mina
作者单位：Stanford University; University of Pennsylvania; Southern Methodist University
摘要：We examine the importance of agency considerations for the mix of salary and performance-based compensation in member-owned medical practices. Performance-based pay increases with the informativeness of clinical productivity measures, and declines with greater reimbursement from capitation contracts. Inexperienced physicians receive more compensation from salary, but compensation mix does not change as physicians near retirement. Larger practices and practices using outside management companie...
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作者：Hann, Rebecca N.; Heflin, Frank; Subramanayam, K. R.
作者单位：University of Southern California; State University System of Florida; Florida State University
摘要：We compare the value and credit relevance of financial statements under fair-value and smoothing (SFAS-87) models of pension accounting. While fair-value improves the credit relevance of the balance sheet, it does not improve its value relevance. Further, fair-value impairs both the value and credit relevance of the income statement and the combined financial statements unless transitory gains and losses (G&L) are separated from more persistent income components. Overall, our results suggest t...
