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作者：Elliott, W. Brooke; Krische, Susan D.; Peecher, Mark E.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：We examine how accounting transparency and investor base jointly affect financial analysts' expectations of mispricing (i.e., expectations of stock price deviations from fundamental value). Within a range of transparency, these two factors interactively amplify analysts' expectations of mispricing-analysts expect a larger positive deviation when a firm's disclosures more transparently reveal income-increasing earnings management and the firm's most important investors are described as transien...
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作者：Shivakumar, Lakshmanan
作者单位：University of London; London Business School
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作者：Ramanna, Karthik; Roychowdhury, Sugata
作者单位：Harvard University; Massachusetts Institute of Technology (MIT)
摘要：We examine the accrual choices of outsourcing firms with links to U.S. congressional candidates during the 2004 elections, when corporate outsourcing was a major campaign issue. We find that politically connected firms with more extensive outsourcing activities have more income-decreasing discretionary accruals. Further, relative to adjacent periods, the evidence is concentrated in the two calendar quarters immediately preceding the 2004 election, consistent with heightened incentives for firm...
