1-2期

最新文章

• Aggregate earnings, stock market returns and macroeconomic activity: A discussion of 'does earnings guidance affect market returns? The nature and information content of aggregate earnings guidance' AI翻译
  作者：Shivakumar, Lakshmanan
  作者单位：University of London; London Business School
  摘要：Anilowski, Feng and Skinner (Journal of Accounting and Economics, 2006, this issue) examine the relationship between aggregate earnings guidance, aggregate earnings news and market returns. They provide evidence that changes in aggregate proportions of downward or upward earnings guidance are associated with aggregate earnings news and weakly associated with market returns. However, the study is unable to establish causality or the precise nature of the relationship between aggregate earnings ...
• Corporate disclosures by family firms AI翻译
  作者：Ali, Ashiq; Chen, Tai-Yuan; Radhakrishnan, Suresh
  作者单位：University of Texas System; University of Texas Dallas; Hong Kong University of Science & Technology
  摘要：Compared to non-family firms, family firms face less severe agency problems due to the separation of ownership and management, but more severe agency problems that arise between controlling and non-controlling shareholders. These characteristics of family firms affect their corporate disclosure practices. For S&P 500 firms, we show that family firms report better quality earnings, are more likely to warn for a given magnitude of bad news, but make fewer disclosures about their corporate govern...
• The discovery and reporting of internal control deficiencies prior to SOX-mandated audits AI翻译
  作者：Ashbaugh-Skaife, Hollis; Collins, Daniel W.; Kinney, William R., Jr.
  作者单位：University of Iowa; University of Wisconsin System; University of Wisconsin Madison; University of Texas System; University of Texas Austin
  摘要：We use internal control deficiency (ICD) disclosures prior to mandated internal control audits to investigate economic factors that expose firms to control failures and managements' incentives to discover and report control problems. We find that, relative to non-disclosers, firms disclosing 1CDs have more complex operations, recent organizational changes, greater accounting risk, more auditor resignations and have fewer resources available for internal control. Regarding incentives to discove...
• Determinants of weaknesses in internal control over financial reporting AI翻译
  作者：Doyle, Jeffrey; Ge, Weill; McVay, Sarah
  作者单位：New York University; University of Washington; University of Washington Seattle; Utah System of Higher Education; Utah State University
  摘要：We examine determinants of weaknesses in internal control for 779 firms disclosing material weaknesses from August 2002 to 2005. We find that these firms tend to be smaller, younger, financiallv weaker, more complex, growing rapidly, or undergoing restructuring. Firms with more serious entity-wide control problems are smaller, younger and weaker financially, while firms with less severe, account-specific problems are healthy financially but have complex, diversified, and rapidly chariging oper...
• The sarbanes-Oxley act and firms' going-private decisions AI翻译
  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 investigate going-private decisions in response to the passage of the Sarbancs-Oxley Act of 2002 (SOX). We study firms that go private from 1998 to May 2005 and find: (1) the quarterly frequency of going-private transactions has increased after the passage of SOX,, and (2) abnormal returns surrounding both the passage of SOX and the going-private announcement are significantly related to proxies for the costs and benefits of SOX and the net benefits of being a public firm. Our empirical evi...
• A discussion of 'corporate disclosure by family firms' AI翻译
  作者：Hutton, Amy P.
  作者单位：Boston College
  摘要：Using a unique empirical setting, family firms in the S&P 500, Ali et al. [Ali, A., Chen, T.-Y., Radhakrishran, S., 2007. Corporate disclosures by family firms. Journal of Accounting and Economics, doi:10.1016/j.jacceco.2007.01.006] contribute to a growing body of research on the relation betv,een corporate governance and corporate disclosure quality. Using an indicator variable for sub-sample membership as an instrument for differing agency costs, the authors interpret their findings as consi...
• Factors related to internal control disclosure: A discussion of Ashbaugh, Collins, and Kinney (2007) and Doyle, Ge, and McVay (2007) AI翻译
  作者：Leone, Andrew J.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
  摘要：Ashbaugh, Collins, and Kinney, henceforth ACK, and Doyle, Ge, and McVay, henceforth DGM, provide the first evidence relating firm characteristics to internal control deficiencies (ICDs) reported under new disclosure requirements. Both studies document that control risk factors associated with organizational complexity and significant organizational change, as well as relative investment in internal control systems, are related to disclosure of internal control. ACK also test whether factors as...
• Economic consequences of the Sarbanes-Oxley Act of 2002 AI翻译
  作者：Zhang, Ivy Xiying
  作者单位：University of Minnesota System; University of Minnesota Twin Cities
  摘要：This paper investigates the economic consequences of the Sarbanes-Oxley Act (SOX) by examining market reactions to related legislative events. Using concurrent stock returns of non-U.S.-traded foreign firms to estimate normal U.S. returns, 1 find that U.S. firms experienced a statistically significant negative cumulative abnormal return around key SOX events. I then examine the crosssectional variation of U.S. firms' returns around these events. Regression results are consistent with the non-a...
• 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...