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作者：Huang, Ying; Li, Ningzhong; Zhang, Jieying; Zhou, Xiaolu
作者单位：University of Texas System; University of Texas Dallas; Chinese University of Hong Kong
摘要：Using a Supreme Court ruling that rejected the use of bright-line rules previously relied upon in evaluating materiality claims, this study examines how heightened materiality uncertainty impacts audit pricing. We expect the heightened uncertainty to make it more difficult for auditors and clients to assess materiality and to reach a consensus on materiality assessment, which increases audit effort and engagement risk, leading to higher audit fees. Consistent with this prediction, we find that...
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作者：Nakhmurina, Anya
作者单位：Yale University
摘要：This paper examines the effect of state-level monitoring on municipal governance, focusing on outcomes in financial reporting quality, local corruption, political entrenchment, and municipal financial soundness. I exploit the staggered adoption of fiscal monitoring policies that entail a regular review of municipal financial reports for signs of fiscal distress. I find that introducing these monitoring policies is associated with an increase in the proxies for reporting quality, a decrease in ...
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作者：Ahn, Byung Hyun; Patatoukas, Panos N.; Skiadopoulos, George S.
作者单位：University of California System; University of California Berkeley; University of London; Queen Mary University London; University of Piraeus
摘要：Using SASB's materiality framework, prior research finds alpha for the portfolio of firms with improving ratings on material ESG issues. We replicate this finding and provide a fundamentals -based perspective on why the materiality portfolio outperforms. Our basic premise is that changes in material ESG issues reflect fundamental firm characteristics. More financially established firms-firms with larger size, lower growth, and higher profitability relative to their sector-are more likely to no...
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作者：Baber, William; Beck, Amanda; Koester, Allison
作者单位：Georgetown University; University System of Georgia; Georgia State University
摘要：Governmental Accounting Standards Board Statement No. 34 (GASB 34, 1999) standardized financial reporting and disclosure requirements for U.S. state and local governments. We interpret debt issuing patterns surrounding GASB 34 implementation as evidence of strategic behavior by governments in anticipation of GASB 34 consequences. Specifically, governments that expected more favorable post-GASB 34 evaluations by municipal bond investors delayed new uninsured debt issues until after, whereas gov...
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作者：Hoopes, Jeffrey L.; Langetieg, Patrick T.; Maydew, Edward L.; Mullaney, Michele S.
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：Drawing on confidential Internal Revenue Service (IRS) data, we examine whether privately held corporations are more aggressive tax planners than their publicly held peers. Contrary to conventional wisdom, we find no consistent evidence that private firms are more aggressive tax planners. We then examine whether private firms' tax planning differs from that of public firms more generally. We find that private firms engage in more conforming tax planning (planning that also reduces pretax accou...
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作者：Scherf, Alexandra A.
作者单位：University of London; London School Economics & Political Science
摘要：Public corruption is a concern for democracies around the world. In the U.S., states have responded to this issue by publishing personal financial disclosures (PFDs) for public officials online. PFDs are a conflict -of -interest disclosure designed to relieve agency conflicts between private citizens and government officials by documenting overlaps between officials' financial interests and public responsibilities. This paper explores whether and how online PFD supports anticorruption enforcem...
