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最新文章

• Auditors' response to political connections and cronyism in Malaysia AI翻译
  作者：Gul, Ferdinand A.
  作者单位：Hong Kong Polytechnic University
  摘要：This paper extends the literature on the role of political economy in financial reporting and auditing by testing two hypotheses. The first hypothesis predicts that there will be a greater increase in audit effort and audit fees for Malaysian firms with political connections, as a result of the Asian financial crisis, than for non-politically connected firms because these firms have a higher risk of financial misstatements. The second hypothesis predicts that the audit fees of politically conn...
• The extreme future stock returns following I/B/E/S earnings surprises AI翻译
  作者：Doyle, Jefrey T.; Lundholm, Russell J.; Soliman, Mark T.
  作者单位：Utah System of Higher Education; Utah State University; University of Michigan System; University of Michigan; Stanford University
  摘要：We investigate the stock returns subsequent to quarterly earnings surprises, where the benchmark for an earnings surprise is the consensus analyst forecast. By defining the surprise relative to an analyst forecast rather than a time-series model of expected earnings, we document returns subsequent to earnings announcements that are much larger, persist for much longer, and are more heavily concentrated in the long portion of the hedge portfolio than shown in previous studies. We show that our ...
• Ownership concentration in privatized firms: The role of disclosure standards, auditor choice, and auditing infrastructure AI翻译
  作者：Guedhami, Omrane; Pittman, Jeffrey A.
  作者单位：Memorial University Newfoundland; Hong Kong University of Science & Technology
  摘要：We rely on a unique data set to estimate the impact of disclosure standards and auditor-related characteristics on ownership concentration in 190 privatized firms from 31 countries. Accounting transparency can help alleviate the agency conflict between minority investors and controlling shareholders, which is evident in the extent of ownership concentration, since the expropriation of corporate resources hinges on these private benefits remaining hidden. After controlling for other country-lev...
• The effect of issuing biased earnings forecasts on analysts' access to management and survival AI翻译
  作者：Ke, Bim; Yu, Yong
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Texas System; University of Texas Austin
  摘要：This study offers evidence on the earnings forecast bias analysts use to please firm management and the associated benefits they obtain from issuing such biased forecasts in the years prior to Regulation Fair Disclosure. Analysts who issue initial optimistic earnings forecasts followed by pessimistic earnings forecasts before the earnings announcement produce more accurate earnings forecasts and are less likely to be fired by their employers. The effect of such biased earnings forecasts on for...