作者：Wang, Elaine Ying; Tan, Hun-Tong
作者单位：University of Massachusetts System; University of Massachusetts Amherst; Nanyang Technological University
摘要：We conduct an experiment to examine the effects of guidance frequency (frequent vs. infrequent) and guidance goal (accuracy vs. meet/beat vs. truthful) on managers' operating decisions. We find that frequent guiders sacrifice total earnings for quarterly earnings predictability irrespective of their guidance goals. Furthermore, when guidance is infrequent, guiders with accuracy goals opt for quarterly earnings predictability over total earnings more often than do guiders with either meet/beat ...
作者：Daske, Holger; Hail, Luzi; Leuz, Christian; Verdi, Rodrigo
作者单位：University of Mannheim; University of Pennsylvania; University of Chicago; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：This study examines liquidity and cost of capital effects around voluntary and mandatory IAS/IFRS adoptions. In contrast to prior work, we focus on the firm-level heterogeneity in the economic consequences, recognizing that firms have considerable discretion in how they implement the new standards. Some firms may make very few changes and adopt IAS/IFRS more in name, while for others the change in standards could be part of a strategy to increase their commitment to transparency. To test these...
