3期

最新文章

• Opportunistic financial reporting around municipal bond issues AI翻译
  作者：Beck, Amanda W.
  作者单位：University System of Georgia; Georgia State University
  摘要：Understanding how government officials exercise discretion over financial reporting is essential for citizens, regulators, and researchers to interpret and monitor financial performance. I examine two measures of discretion in governmental financial statements: abnormal accruals in full accrual financial statements, and other financing sources and uses in modified accrual financial statements. Using a unique dataset of hand-collected financial data from California, I document empirically that ...
• Audit personnel salaries and audit quality AI翻译
  作者：Hoopes, Jeffrey L.; Merkley, Kenneth J.; Pacelli, Joseph; Schroeder, Joseph H.
  作者单位：University of North Carolina; University of North Carolina Chapel Hill; Indiana University System; Indiana University Bloomington
  摘要：This study examines the relation between audit personnel salaries and office-level audit quality. We measure audit personnel salaries at the associate, senior, and manager ranks for Big 4 audit offices from 2004 to 2013, using unique individual-auditor-level data obtained from the U.S. Department of Labor. We find that offices that pay lower salaries have a higher percentage of clients that experience restatements. In related analyses, we also find lower levels of audit quality when audit empl...
• Corporate governance roles of information quality and corporate takeovers AI翻译
  作者：Li, Jing; Nan, Lin; Zhao, Ran
  作者单位：University of Hong Kong; Purdue University System; Purdue University; Chapman University System; Chapman University
  摘要：We examine the corporate governance roles of information quality and the takeover market with asymmetric information regarding the value of the target firm. Increasing information quality improves the takeover efficiency however, a highly efficient takeover market also discourages the manager from exerting effort. We find that perfect information quality is not optimal for either current shareholders' expected payoff maximization or expected firm value maximization. Furthermore, current shareh...
• Accounting comparability and relative performance evaluation in CEO compensation AI翻译
  作者：Lobo, Gerald J.; Neel, Michael; Rhodes, Adrienne
  作者单位：University of Houston System; University of Houston; Texas A&M University System; Texas A&M University College Station; Mays Business School
  摘要：We investigate whether accounting comparability is associated with the likelihood that CEO compensation is tied to relative accounting performance (e.g., return on assets). We predict that higher accounting comparability increases the risk-sharing benefit of accounting-based RPE because peer firm performance better controls for common risk in RPE firm performance. Thus, firms that have higher accounting comparability with potential performance peers will be more likely to include accounting-ba...
• Do firms underreport information on cyber-attacks? Evidence from capital markets AI翻译
  作者：Amir, Eli; Levi, Shai; Livne, Tsafrir
  作者单位：Tel Aviv University; University of North Carolina; University of North Carolina Chapel Hill
  摘要：Firms should disclose information on material cyber-attacks. However, because managers have incentives to withhold negative information, and investors cannot discover most cyber-attacks independently, firms may underreport them. Using data on cyber-attacks that firms voluntarily disclosed, and those that were withheld and later discovered by sources outside the firm, we estimate the extent to which firms withhold information on cyber-attacks. We find withheld cyber-attacks are associated with ...
• Defining, measuring, and modeling accruals: a guide for researchers AI翻译
  作者：Larson, Chad R.; Sloan, Richard; Giedt, Jenny Zha
  作者单位：University of Houston System; University of Houston; University of Southern California; George Washington University
  摘要：Research on accounting accruals is pervasive. Yet the measurement and modeling of accruals has developed in an ad hoc manner, resulting in a fragmented and incomplete body of research. Our goal is to rectify this situation by (i) providing a comprehensive definition of accruals, (ii) formulating a corresponding empirical measure of accruals, (iii) offering two decompositions of our measure that encapsulate the major classes of accruals studied elsewhere, (iv) combining and expanding prior mode...
• Information transfer and conference calls AI翻译
  作者：Brochet, Francois; Kolev, Kahn; Lerman, Alina
  作者单位：Boston University; City University of New York (CUNY) System; Baruch College (CUNY); University of Connecticut
  摘要：A long-standing literature documents intra-industry capital market co-movements around earnings releases, yet the dynamics of these information transfers remain largely unexplored. We provide evidence on both the sources and channels of information transfers by separating two distinct events within the reporting window using intra-day data and by exploring potential mechanisms of information flows. We document that the co-movement of absolute and signed stock returns over the conference call w...
• The effect of tax-motivated income shifting on information asymmetry AI翻译
  作者：Chen, Ciao-Wei; Hepfer, Bradford F.; Quinn, Phillip J.; Wilson, Ryan J.
  作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Texas A&M University System; Texas A&M University College Station; Mays Business School; University of Washington; University of Washington Seattle; University of Oregon
  摘要：We examine whether tax-motivated income shifting by U.S. multinational corporations affects information asymmetry. Using a new firm-year measure of income shifting and a two-stage least squares approach, we find income shifting is positively associated with four measures of information asymmetry. Cross-sectional tests reveal that this effect is more pronounced for firms with large differences between foreign and domestic earnings growth. Using SFAS 131 to improve identification and establish e...
• Corporate tax avoidance: data truncation and loss firms AI翻译
  作者：Henry, Erin; Sansing, Richard
  作者单位：University of Memphis; Dartmouth College; Tilburg University
  摘要：Loss firms are an economically significant and growing segment of the population of publicly traded corporations. Relatively little is known about the tax positions of loss firms because the firms are typically dropped from tax avoidance studies. We develop a new measure of corporate cash tax avoidance that is meaningful for all observations and reflects the extent to which a firm is tax-favored. We examine the extent to which inferences about corporate tax avoidance over the past twenty-seven...
• Decomposing the market, industry, and firm components of profitability: implications for forecasts of profitability AI翻译
  作者：Jackson, Andrew B.; Plumlee, Marlene A.; Rountree, Brian R.
  作者单位：University of New South Wales Sydney; Utah System of Higher Education; University of Utah; Rice University
  摘要：Academics and practitioners frequently highlight that overall market and industry performance is an important aspect of a firm's profitability. However, few studies allow for the decomposition of a firm's profitability into market, industry, and idiosyncratic components, and those that do often assume that the market and industry components are cross-sectional constants. In this study, we allow for variation in firm-specific sensitivities to market, industry, and idiosyncratic economic shocks,...