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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：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...
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作者：Easton, P; Taylor, G; Shroff, P; Sougiannis, T
作者单位：University System of Ohio; Ohio State University; University of Melbourne; University of Alabama System; University of Alabama Tuscaloosa; University of Minnesota System; University of Minnesota Twin Cities
摘要：We develop a method for simultaneously estimating the cost of equity capital and the growth in residual earnings that are implied by current stock prices, current book value of equity, and short-term forecasts of accounting earnings. We demonstrate the use of our method by calculating the expected equity risk premium. Our estimate is higher than estimates in extant studies that are based on the same earnings forecast data. The main difference between our study and these papers is that while th...
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作者：Lundholm, R; Myers, LA
作者单位：University of Michigan System; University of Michigan; University of Illinois System; University of Illinois Urbana-Champaign
摘要：This paper studies how firm disclosure activity affects the relation between current annual stock returns, contemporaneous annual earnings and future earnings. Our results show that firms with relatively more informative disclosures bring the future forward so that current returns reflect more future earnings news. We also find that changes in disclosure activity are positively related to changes in the importance of future earnings news for current, returns. These results suggest that a firm'...
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作者：Landsman, WR; Maydew, EL
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：This paper examines changes in the information content of earnings over the past three decades using the two metrics from Beaver [1968]: abnormal trading volume and abnormal return volatility. We find no evidence of a decline in the information content of earnings announcements over the past three decades, as measured by both abnormal trading volume and return volatility around quarterly earnings announcements. If anything, our results suggest an increase over time in the informativeness of qu...
