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• Does it matter who serves on the Financial Accounting Standards Board? Bob Herz's resignation and fair value accounting for loans AI翻译
  作者：Jiang, John; Wang, Isabel Yanyan; Xie, Yuan
  作者单位：Michigan State University; Michigan State University's Broad College of Business; Fordham University
  摘要：On August 24, 2010, Bob Herz, then chairman of the Financial Accounting Standards Board (FASB) resigned unexpectedly. Before his resignation, Herz supported a FASB proposal for applying fair value to loans and cast the deciding vote. This proposal received strong pushbacks from banks and bank regulators. Using an event study methodology, we examine whether Herz's abrupt resignation changed the market's expectation on whether the fair value proposal would be finalized. We find that bank investo...
• Analyst following along the supply chain AI翻译
  作者：Guan, Yuyan; Wong, M. H. Franco; Zhang, Yue
  作者单位：City University of Hong Kong; INSEAD Business School; University of Toronto
  摘要：We document that the likelihood of an analyst following a supplier-customer firm pair increases with the strength of the economic ties along the supply chain, as measured by the percentage of the supplier's sales to the customer. Analysts who follow a covered firm's customer provide more accurate earnings forecasts for the supplier firm than analysts who do not. While both types of analysts respond to and incorporate the earnings news from the customer firm into their revisions of the supplier...
• Managerial performance evaluation for capacity investments AI翻译
  作者：Nezlobin, Alexander; Reichelstein, Stefan; Wang, Yanruo
  作者单位：University of California System; University of California Berkeley; Stanford University
  摘要：This paper examines the design of managerial performance measures based on accounting information. The owners of the firm seek to create goal congruence for a better informed manager who is to decide on capacity investments and subsequent production levels. Managerial incentives are shaped by the performance metric and the depreciation schedule for capacity assets. Earlier literature has made the distinction between capacity assets whose degradation is primarily usage-driven as opposed to time...
• Discretionary disclosure, spillovers, and competition AI翻译
  作者：Hughes, John S.; Pae, Suil
  作者单位：University of California System; University of California Los Angeles; Sungkyunkwan University (SKKU)
  摘要：We present a differentiated duopoly model, in which an industry leader's disclosure of innovations achieved through research and development (R&D) activities reveals efficiency gains and enables a rival to free ride. Competitive intensity is measured by the degree of product substitutability. A tension arises between the incentive to influence the rival's pricing or output decision by sharing information on R&D innovations and the incentive to avoid knowledge spillovers that allow the rival to...
• The association between book-tax conformity and earnings management AI翻译
  作者：Blaylock, Bradley; Gaertner, Fabio; Shevlin, Terry
  作者单位：Oklahoma State University System; Oklahoma State University - Stillwater; University of Wisconsin System; University of Wisconsin Madison; University of California System; University of California Irvine
  摘要：There is an ongoing debate in the literature about the costs and benefits of conforming book and taxable income. Proponents argue that increased book-tax conformity will reduce aggressive financial reporting: managing earnings up increases taxes and will curtail abusive tax shelters because managing taxes down decreases earnings reported to shareholders. We use a panel of 139,536 firm-year observations across 34 countries over the period 1996-2007 to test whether high levels of book-tax confor...
• What drives the comparability effect of mandatory IFRS adoption? AI翻译
  作者：Cascino, Stefano; Gassen, Joachim
  作者单位：University of London; London School Economics & Political Science; Humboldt University of Berlin
  摘要：We investigate the effects of mandatory International Financial Reporting Standards (IFRS) adoption on the comparability of financial accounting information. Using a set of alternative comparability measures, our results suggest that the overall comparability effect of mandatory IFRS adoption is marginal. We hypothesize that firm-level heterogeneity in IFRS compliance explains the limited comparability effect. To test this conjecture, we first hand-collect data on IFRS compliance for a sample ...
• The effect of CEO inside debt holdings on financial reporting quality AI翻译
  作者：He, Guanming
  作者单位：University of Warwick
  摘要：This study investigates the effect of CEO inside debt holdings on financial reporting quality. I find that higher CEO inside debt holdings are associated with lower abnormal accruals, higher accruals quality, a lower likelihood of an earnings misstatement, and a lower incidence of earnings benchmark beating, suggesting that CEO inside debt promotes high financial reporting quality. Additional analyses reveal that (1) CEO inside debt holdings reduce firm-specific stock price crash risk, and tha...
• The effect of target-firm accounting quality on valuation in acquisitions AI翻译
  作者：McNichols, Maureen F.; Stubben, Stephen R.
  作者单位：Stanford University; Utah System of Higher Education; University of Utah
  摘要：We examine whether acquisitions are more profitable for acquirers when the firms they target disclose higher-quality accounting information. If accounting information reduces uncertainty in the value of the target firm by facilitating a more precise valuation, we predict that managers of the acquiring firm can bid more effectively and pay less to acquire a target firm that has high-quality accounting information. Using a large sample of acquisitions of public firms from 1990 to 2010, we find e...