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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：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：Banker, RD; Devaraj, S; Schroeder, RG; Sinha, KK
作者单位：University of Texas System; University of Texas Dallas; University of Notre Dame; University of Minnesota System; University of Minnesota Twin Cities
摘要：Using a field study approach, we examine two competing perspectives on direct labor variance reporting: some argue that direct labor variance reporting is costly and cumbersome, and should be eliminated; whereas others contend that without direct labor variance information, managers will not be able to monitor workers effectively, causing workers to shirk and worker productivity to decline. Specifically, we investigate the productivity and quality impacts of eliminating direct labor variance r...
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作者：Marquardt, CA
作者单位：New York University
摘要：This study presents empirical evidence on the ex post costs of employee stock option (ESO) grants to issuing firms and examines whether the Black-Scholes [1973] model provides reasonable estimates of these values. Because there are no market prices for ESOs, the traditional avenues for testing option-pricing models are unavailable. This research relies instead on techniques from the economic forecasting literature, viewing model values as forecasts of the options' payoff. The theoretically app...
