作者：Butler, M; Leone, AJ; Willenborg, M
作者单位：University of Rochester; University of Connecticut
摘要：In this paper, we use a web-based sampling methodology to obtain and content analyze a large sample of modified audit opinions. Based on this analysis, we re-examine whether certain modified audit opinions are associated with abnormal accruals. We find that the documented relation between modified opinions and abnormal accruals rests with companies that have going-concern opinions. These firms have large negative accruals that are likely due to severe financial distress. Overall, we find no ev...
作者：Bushman, R; Chen, Q; Engel, E; Smith, A
作者单位：University of Chicago; University of North Carolina; University of North Carolina Chapel Hill; Duke University
摘要：We posit that limited transparency of firms' operations to outside investors increases demands on governance systems to alleviate moral hazard problems. We investigate how ownership concentration, directors' and executive's incentives, and board structure vary with: (1) earnings timeliness, and (2) organizational complexity measured as geographic and/or product line diversification. We find that ownership concentration, directors' and executives' equity-based incentives, and outside directors'...
