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作者：Chandar, N; Bricker, R
作者单位：Rutgers University System; Rutgers University New Brunswick; University System of Ohio; Case Western Reserve University
摘要：This paper studies earnings management using 363 closed-end mutual fund firm-years of data. Closed-end fund assets consist of unrestricted and restricted securities, and realized and unrealized income. While unrestricted securities are not subject to earnings management, restricted security values are largely discretionary. Managerial valuation of restricted securities is modeled as contingent on unrestricted returns relative to a performance benchmark. Four unrestricted performance regions ar...
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作者：Owhoso, VE; Messier, WF Jr; Lynch, JG Jr
作者单位：Bentley University; University System of Georgia; Georgia State University; Duke University
摘要：To improve audit effectiveness, public accounting firms have organized their practices to include hierarchical review by teams organized along industry lines. We examine how industry specialized auditor teams detect errors, using a sophisticated experimental design. Our analysis of nominal teams created from seniors and managers working individually shows that seniors add value to the team by detecting more mechanical errors while managers detect more conceptual errors. Working within speciali...
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作者：Ittner, CD; Lanen, WN; Larcker, DF
作者单位：University of Pennsylvania; University of Michigan System; University of Michigan
摘要：This study examines the association between activity-based costing and manufacturing performance. Results using a cross-sectional sample of manufacturing plants indicates that extensive ABC use is associated with higher quality levels and greater improvements in cycle time and quality, and is indirectly associated with manufacturing cost reductions through quality and cycle time improvements. However, on average, extensive ABC use has no significant association with return on assets. Instead, ...
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作者：Hribar, P; Collins, DW
作者单位：Cornell University; University of Iowa
摘要：This paper examines the impact of measuring accruals as the change in successive balance sheet accounts, as opposed to measuring accruals directly from the statement of cash flows. Our primary finding is that studies using a balance sheet approach to test for earnings management are potentially contaminated by measurement error in accruals estimates. In particular, if the partitioning variable used to indicate the presence of earnings management is correlated with the occurrence of mergers and...
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作者：Tan, HT; Libby, R; Hunton, JE
作者单位：Nanyang Technological University; Cornell University; State University System of Florida; University of South Florida
摘要：Preannouncements of earnings tend to overstate negative or understate positive news, which decreases the chance of a negative surprise when actual earnings is announced. We conduct an experiment to investigate how experienced sell-side analysts' earnings forecasts are affected by preannouncements that either understate, accurately state, or overstate the magnitude of positive or negative total earnings news, holding total earnings news constant. We find that firms with negative (positive) tota...
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作者：Davis, AK
作者单位：Washington University (WUSTL)
摘要：This study provides evidence on (a) the market's response to revenue and revenue announcements, (b) the extent of the use of grossed-up and barter revenue by Internet firms, and (c) whether the value relevance of revenue differs when Internet firms report grossed-up or barter revenue. Results indicate that revenue announcements are highly associated with three-day market returns and provide information incremental to that contained in earnings announcements. The rise of grossed-up and barter r...
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作者：Botosan, CA; Plumlee, MA
作者单位：Utah System of Higher Education; University of Utah
摘要：This paper examines the association between the cost of equity capital and levels of annual report and timely disclosure, and investor relations activities. We estimate the cost of equity capital using the classic dividend discount model. We find that the cost of equity capital decreases in the annual report disclosure level but increases in the level of timely disclosures. The latter result is contrary to theory but is consistent with managers' claims that greater timely disclosures may incre...
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作者：Dichev, ID; Skinner, DJ
作者单位：University of Michigan System; University of Michigan
摘要：We use Dealscan, a database of private corporate lending agreements, to provide large-sample tests of the debt covenant hypothesis. Dealscan offers several advantages over the data available in previous studies, principally larger and more representative samples and the m,,availability of extensive actual covenant detail. These advantages allow us to construct powerful tests in which we find clear support for the debt covenant hypothesis. We also use these data to provide broad evidence on the...
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作者：Baiman, S; Rajan, MV
作者单位：University of Pennsylvania; Stanford University
摘要：An important characteristic of any buyer-supplier relationship is the amount and type of information that is exchanged between the contracting parties. Buyer-supplier networks are characterized by greater information exchange than arm's-length transactions. This enhanced information exchange allows for greater production efficiency but increases the potential for information misappropriation. In this paper we characterize the set of innovations for which each of these forms of exchange relatio...
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作者：Kasznik, R; McNichols, MF
作者单位：Stanford University
摘要：This paper investigates whether the market rewards firms meeting current period earnings expectations, and whether any such reward reflects the implications of meeting expectations in the current period for future earnings or reflects a distinct market premium. We document that abnormal annual returns are significantly greater for firms meeting expectations, controlling for the information in the current year's earnings. We then test whether firms meeting expectations experience higher returns...
