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作者：Gul, FA; Tsui, JSL
作者单位：City University of Hong Kong
摘要：This study examines the association between free cash flow (FCF) and audit fees. The association is expected given Jensen's argument that managers of low growth/high FCF firms engage in non-value-maximizing activities. These activities increase auditors' assessments of inherent risk and, in turn, audit effort and fees. Jensen also argues debt mitigates the non-value-maximizing activities. Thus, the positive FCF/audit fees association is expected to be weaker for low growth firms with high debt...
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作者：Dopuch, N; Gupta, M
摘要：The accounting and management literature reflects an increasing interest in relative performance evaluation (RPE) measures, often called 'benchmarking'. In this paper we illustrate how stochastic frontier estimation (SFE) can be used to estimate benchmark performance standards which control for differences in the environments of the benchmarked operating units. Our application of SFE uses cross-sectional data reported by school districts in the state of Missouri for the year 1990-91. The resul...
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作者：DeFond, ML; Park, CW
作者单位：University of Southern California
摘要：Recent theory argues that concern about job security creates an incentive for managers to smooth earnings in consideration of both current and future relative performance. We find support for this theory. Our evidence suggests that when current earnings are 'poor' and expected future earnings are 'good', managers 'borrow' earnings from the future for use in the current period. Conversely, when current earnings are 'good' and expected future earnings are 'poor' managers 'save' current earnings ...
