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作者：Kuo, Nan-Ting; Lee, Cheng-Few
作者单位：Nankai University; Rutgers University System; Rutgers University New Brunswick
摘要：Our study explores a possible benefit of conforming book income to taxable income. We expect that increased book-tax conformity can reduce audit fees by simplifying tax accruals and increasing tax authorities' monitoring, which reduce audit workload and audit risk, respectively. Consistent with our expectations, we find that a higher country level of required book-tax conformity leads to lower audit fees. Moreover, firm-level book-tax differences are positively associated with audit fees. We a...
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作者：Konchitchki, Yaniv; Luo, Yan; Ma, Mary L. Z.; Wu, Feng
作者单位：University of California System; University of California Berkeley; Fudan University; York University - Canada; Hong Kong Polytechnic University
摘要：We hypothesize that earnings downside risk, capturing the expectation for future downward operating performance, contains distinct information about firm risk and varies with cost of capital in the cross section of firms. Consistent with the validity of the earnings downside risk measure, we find that, relative to low earnings downside risk firms, high earnings downside risk firms experience more negative operating performance over the subsequent period, are more sensitive to downward macroeco...
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作者：Powers, Kathleen; Robinson, John R.; Stomberg, Bridget
作者单位：University of Tennessee System; University of Tennessee Knoxville; Texas A&M University System; Texas A&M University College Station; Mays Business School; University System of Georgia; University of Georgia
摘要：We examine how different accounting metrics used to evaluate CEO performance for annual bonuses affect the level of corporate tax planning as well as financial reporting for income taxes. We predict and find that firms using cash flow metrics report lower GAAP and cash effective tax rates (ETR) than firms using earnings metrics. We also find that firms using after-tax earnings metrics report lower GAAP ETRs but similar cash ETRs as firms using pre-tax earnings metrics. Further analyses show th...
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作者：Baginski, Stephen; Demers, Elizabeth; Wang, Chong; Yu, Julia
作者单位：University System of Georgia; University of Georgia; University of Virginia; United States Department of Defense; United States Navy; Naval Postgraduate School; Nanyang Technological University
摘要：Research documents that linguistic tone is incrementally informative about stock returns. What remains a puzzle is the mechanism by which investors can assess its credibility. We examine whether contemporaneous information in management earnings forecasts serves as a timely alternative to ex post verification. We document that ex post verifiable quantitative news in unbundled forecasts, and characteristics of the linguistic tone itself, affect investors' pricing of tone. Consistent with higher...
