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作者：Carter, ME; Lynch, LJ
作者单位：University of Pennsylvania; University of Virginia
摘要：We examine repricing activity surrounding the FASB's 1998 announcement regarding accounting for repriced options. We find that repricing increases during, and decreases after, the 12-day window between the announcement and proposed effective dates, consistent with firms timing repricings to avoid recording an expense. We find that firms experiencing increasing earnings patterns, firms with earnings around zero, and growth firms are more likely to reprice in the window, but having repriced rece...
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作者：Eldenburg, L; Krishnan, R
作者单位：University of Arizona; Michigan State University; Michigan State University's Broad College of Business
摘要：This study explores incentives and performance in organizations governed by publicly elected boards of directors and subsidized by taxes. Such organizations are likely to underpay Chief Executive Officers (CEOs), resulting in selection and incentive problems and hence poor operating performance. We compare municipal district hospitals to private nonprofit hospitals. CEO compensation in district hospitals is significantly lower than in the nonprofits. Operating margins in district hospitals are...
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作者：Plesko, GA
作者单位：Massachusetts Institute of Technology (MIT)
摘要：This paper examines the ability of financial statement measures of average and marginal tax rates (MTR) to capture tax attributes utilizing firm-level tax and financial data. The results suggest commonly used average tax rate measures provide little insight about statutory tax burdens, and may introduce substantial bias into analyses of tax incidence. Financial statement-based proxies for MTR, particularly those based on simulation methods, are found to perform well in estimating current year ...
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作者：Bhattacharya, N; Black, EL; Christensen, TE; Larson, CR
作者单位：Brigham Young University; Utah System of Higher Education; University of Utah; University of Michigan System; University of Michigan
摘要：This study investigates whether market participants perceive pro forma earnings to be more informative and more persistent than GAAP operating income by analyzing a sample of 1,149 actual pro forma press releases. We find that pro forma announcers report frequent GAAP losses and are mostly concentrated in the service and high-tech industries. Our analyses of short-window abnormal returns and revisions in analysts' one-quarter-ahead earnings forecasts indicate that pro forma earnings are more i...
