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作者：Clor-Proell, Shana M.; Maines, Laureen A.
作者单位：Texas Christian University; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：We investigate whether recognition on the face of the financial statements versus disclosure in the footnotes influences the amount that financial managers report for a contingent liability. Using an experiment with corporate controllers and chief financial officers, we find that financial managers in public companies expend more cognitive effort and exhibit less strategic bias under recognition than disclosure. This difference appears to be associated with capital market pressures experienced...
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作者：Feng, Mei; Li, Chan
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We examine whether auditors exercise professional skepticism about management earnings forecasts when making going-concern decisions. Using publicly issued management earnings forecasts as a proxy for earnings forecasts provided by managers to auditors, we find that management earnings forecasts are negatively associated with both auditors' going-concern opinions and subsequent bankruptcy. The weight auditors put on management forecasts in the going-concern decision is not significantly differ...
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作者：Garrett, Jace; Hoitash, Rani; Prawitt, Douglas F.
作者单位：Bentley University; Brigham Young University
摘要：Using unique survey data from Great Place to Work (R) Institute, we investigate the association of intraorganizational trust (i.e., employees' trust in management) with three aspects of financial reporting: accruals quality, misstatements, and internal control quality. We find that trust is associated with better accrual quality, lower likelihood of financial statement misstatements, and lower likelihood of internal control material weakness disclosures. However, these effects are not uniform ...
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作者：Badertscher, Brad; Jorgensen, Bjorn; Katz, Sharon; Kinney, William
作者单位：University of Notre Dame; University of London; London School Economics & Political Science; Columbia University; University of Texas System; University of Texas Austin
摘要：To what degree are audit fees for U.S. firms with publicly traded equity higher than fees for otherwise similar firms with private equity? The answer is potentially important for evaluating regulatory regime design efficiency and for understanding audit demand and production economics. For U.S. firms with publicly traded debt, we hold constant the regulatory regime, including mandated issuer reporting and auditor responsibilities. We vary equity ownership and thus public securities market cont...
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作者：Kalay, Alon
作者单位：Columbia University
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作者：Jia, Yuping; Van Lent, Laurence; Zeng, Yachang
作者单位：Frankfurt School Finance & Management; Tilburg University
摘要：We examine the relation between a measure of male CEOs' facial masculinity and financial misreporting. Facial masculinity is associated with a complex of masculine behaviors (including aggression, egocentrism, riskseeking, and maintenance of social status) in males. One possible mechanism for this relation is that the hormone testosterone influences both behavior and the development of the face shape. We document a positive association between CEO facial masculinity and various misreporting pr...
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作者：Balakrishnan, Karthik; Core, John E.; Verdi, Rodrigo S.
作者单位：University of Pennsylvania; Massachusetts Institute of Technology (MIT)
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作者：Goncharov, Igor; Jacob, Martin
作者单位：Lancaster University; WHU - Otto Beisheim School of Management
摘要：This study investigates why countries mandate accruals in the definition of corporate taxable income. Accruals alleviate timing and matching problems in cash flows, which smoothes taxable income and thus better aligns it with underlying economic performance. These accrual properties can be desirable in the tax setting as tax authorities seek more predictable corporate tax revenues. However, they can also make tax revenues procyclical by increasing the correlation between aggregate corporate ta...
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作者：Lee, Edward; Strong, Norman; Zhu, Zhenmei (Judy)
作者单位：University of Manchester; Fudan University
摘要：Between 2000 and 2003 a series of disclosure and analyst regulations curbing abusive financial reporting and analyst behavior were enacted to strengthen the information environment of U.S. capital markets. We investigate whether these regulations reduced security mispricing and increased stock market efficiency. After the regulations, we find a significant reduction in short-term stock price continuation following analyst forecast revisions and earnings announcements. The effect was more prono...
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作者：Chen, Qi; Huang, Zeqiong; Zhang, Yun
作者单位：Duke University; George Washington University
摘要：This paper analyzes the effects of public information in a perfect competition trading model populated by asymmetrically informed short-horizon investors with different levels of private information precision. We first show that information asymmetry reduces the amount of private information revealed by price in equilibrium (i.e., price informativeness) and can lead to multiple linear equilibria. We then demonstrate that the presence of both information asymmetry and short horizons provides a ...
