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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：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：Bradshaw, MT; Sloan, RG
作者单位：Harvard University; University of Michigan System; University of Michigan
摘要：Managers; security analysts, investors, and the press rely increasingly on modified definitions of GAAP net income, known by such names as operating and pro forma earnings. We document this phenomenon and discuss competing explanations for the recent rise in the use of such modified earnings numbers and implications for the interpretation of related accounting research. Our results show that over the past 20 years there has been a dramatic increase in the frequency and magnitude of cases where...
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作者：Dutta, S; Zhang, XJ
摘要：This paper examines how various revenue recognition rules affect the incentive properties of accounting information in a stewardship setting. Our analysis demonstrates that if revenues are recognized according to the realization principle, a single performance measure based on aggregated accounting information can be used to provide desirable production and effort incentives to the manager. In contrast, mark-to-market accounting does not provide efficient aggregation of raw information to solv...
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作者：Shackelford, DA; Verrecchia, RE
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Pennsylvania
摘要：We define an intertemporal tax discontinuity (ITD) as a circumstance in which different tax rates are applied to gains realized at one point in time versus some other point in time. We study the effects of ITDs on market behaviors at the time of disclosures of firm performance, assuming that all investors who trade firm equities are subject to tax. The results of our paper suggest that relative to an economy in which ITDs are absent, ITDs may dampen trading volume and amplify price changes at ...
