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作者：Zingales, Luigi
作者单位：University of Chicago; National Bureau of Economic Research
摘要：The U.S. system of securities law was designed more than 70 years ago to regain investors' trust after a major financial crisis. Today we face a similar problem. But while in the 1930s the prevailing perception was that investors had been defrauded by offerings of dubious quality securities, in the new millennium, investors' perception is that they have been defrauded by managers who are not accountable to anyone. For this reason, I propose a series of reforms that center around corporate gove...
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作者：Baik, Bok; Farber, David B.; Petroni, Kathy
作者单位：Seoul National University (SNU); University of Missouri System; University of Missouri Columbia; Michigan State University; Michigan State University's Broad College of Business
摘要：We examine whether analysts' incentives are associated with street earnings. Because prior research argues that analysts' incentives to promote stocks increase in the extent to which the stock exhibits glamour characteristics, we predict that analysts are more likely to make income-increasing adjustments in determining street earnings for glamour stocks than for value stocks. We find that analysts are more likely to exclude expense items from street earnings for glamour stocks than for value s...
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作者：Brazel, Joseph F.; Jones, Keith L.; Zimbelman, Mark F.
作者单位：North Carolina State University; George Mason University; Brigham Young University
摘要：This study examines whether auditors can effectively use nonfinancial measures (NFMs) to assess the reasonableness of financial performance and, thereby, help detect financial statement fraud (hereafter, fraud). If auditors or other interested parties (e.g., directors, lenders, investors, or regulators) can identify NFMs (e.g., facilities growth) that are correlated with financial measures (e.g., revenue growth), inconsistent patterns between the NFMs and financial measures can be used to dete...
