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作者：Beaver, WH; McNichols, MF; Rhie, JW
作者单位：Stanford University
摘要：Using a hazard model, we examine secular changes in the ability of financial statement data to predict bankruptcy from 1962 to 2002. We identify three trends in financial reporting that could influence predictive ability with respect to bankruptcy: FASB standards, the perceived increase in discretionary financial reporting behavior, and the increase in unrecognized assets and obligations. A parsimonious three-variable model provides significant explanatory power throughout the time period, wit...
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作者：Bar-Yosef, S; Sarath, B
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); Hebrew University of Jerusalem
摘要：We provide a theoretical rationale for the observed audit industry structure where well-capitalized auditors hold all extremely large market share. Our analysis focuses oil the economics of trading in an adverse selection market where audit quality is unobservable. We show that concentration of market share call arise even if well-capitalized auditors have no relative advantage with regard to supplying highquality audits, and that the strategy of attracting a narrow base of high-margin clients...
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作者：Ghosh, A; Gu, ZY; Jain, PC
作者单位：Georgetown University; U.S. Securities & Exchange Commission (SEC); City University of New York (CUNY) System; Baruch College (CUNY); Carnegie Mellon University
摘要：We show that firms reporting sustained increases in both earnings and revenues have (1) higher quality earnings and (2) larger earnings response coefficients (ERCs) in comparison to firms reporting sustained increases in earnings alone. With respect to earnings quality, firms with revenue-supported increases in earnings have more persistent earnings, exhibit less susceptibility to earnings managernent, and have higher future operating performance. With respect to response coefficients, firms w...
