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作者：Li, Ningzhong; Lou, Yun; Otto, Clemens A.; Wittenberg-Moerman, Regina
作者单位：University of Texas System; University of Texas Dallas; Singapore Management University; University of Southern California
摘要：We examine the relation between accounting quality and debt concentration in corporate capital structures (i.e., firms' tendency to rely predominantly on only a few types of debt). Motivated by theoretical and empirical research that supports a strong link between debt concentration and creditors' coordination costs and the importance of accounting quality in reducing these costs, we hypothesize that firms with higher accounting quality have less concentrated debt structures. Measuring account...
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作者：Dekeyser, Simon; Gaeremynck, Ann; Knechel, W. Robert; Willekens, Marleen
作者单位：KU Leuven; State University System of Florida; University of Florida; University of Auckland; University of New South Wales Sydney; BI Norwegian Business School
摘要：Economic incentives are fundamental for understanding auditor behavior. In this paper, we investigate the association between the extent of partners' fee-based compensation, partners' observable net wealth, and audit quality. Using a sample of Belgian Big 4 audit firms and their predominantly private clients, our results suggest a negative association between audit quality and partner fee-based compensation, and a positive association between audit quality and partner observable net wealth. Mo...
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作者：Armstrong, Christopher S.; Glaeser, Stephen A.; Huang, Sterling
作者单位：University of Pennsylvania; University of North Carolina; University of North Carolina Chapel Hill; Singapore Management University
摘要：We examine how executives' ability to control their firms' exposure to risk affects the design of their incentive-compensation contracts. Our natural experimental evidence shows that exchange-traded weather derivatives allow executives to control their firms' exposure to weather risk. Once these derivatives became available, those executives who use them to hedge experience relative reductions in their total compensation and equity incentives. The decline in compensation is consistent with a r...
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作者：Gallimberti, Carlo Maria
作者单位：Boston College
摘要：I examine the relation between borrowers' financial reporting (FR) and the quality of banks' loan portfolios. This relation is theoretically ambiguous as better FR not only improves banks' monitoring of loans, but also grants more creditworthy borrowers cheaper access to alternative public funding, increasing competition and creating adverse selection problems for banks. Using the adoption of Sarbanes-Oxley Act Section 404 to identify improvements in borrowers' FR, I find an overall positive e...
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作者：Beatty, Anne; Liao, Scott
作者单位：University System of Ohio; Ohio State University; University of Toronto
摘要：We document potential cross-sectional differences in how expected loss accounting will affect provision timeliness to provide important policy insights and contribute to the literature regarding the estimation of the expected loss model adoption impact and provision timeliness determinants. Our findings that analyst provision forecasts incrementally predict future nonperforming loans (NPLs) and market returns suggest that the incurred loss provision does not incorporate all available future lo...
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作者：Agarwal, Ashish; Chen, Shannon; Mills, Lillian F.
作者单位：University of Texas System; University of Texas Austin; University of Arizona; University of Texas System; University of Texas Austin
摘要：We examine the effect of pass-through entities embedded in corporate structures on tax avoidance, tax uncertainty, and tax noncompliance using unique, confidential tax return data that link corporations and pass-through entities together through Schedules K-1. We develop measures of the use of pass-through entities such as the number and connectednessof pass-throughs within the structure, the presence of loss pass-throughs or asymmetric allocations of such losses, and connections to entities e...
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作者：Chan, Eric W.; Zhang, Xinyu
作者单位：University of Texas System; University of Texas Austin; Cornell University
摘要：We experimentally examine how nonprofit pay levels affect nonprofit managers' misreporting and how different types of penalties deter such behavior. Absent any penalties for misreporting, we find similar levels of, but different mechanisms for, misreporting by managers who select into lower-versus higher-paying nonprofits. Specifically, lower-paying nonprofits attract mission-focused managers who misreport to advance their nonprofit's mission and justify doing so by their personal sacrifice of...
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作者：Botosan, Christine A.
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作者：Dou, Yiwei
作者单位：New York University
摘要：I investigate how the consolidation of securitization entities under SFAS 166 and 167 spills over to banks' supply of small business loans, which are rarely securitized in the United States. This spillover operates through two channels. (1) In the leverage channel, consolidating banks downsize their entire loan portfolios, both small business loans and other loans, in response to increased leverage after consolidation. (2) In the risk management channel, consolidating banks adjust the mix of l...
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作者：Estep, Cassandra
作者单位：Emory University
摘要：I investigate how auditors integrate information technology (IT) specialist input into internal control over financial reporting (ICFR) issue classifications. Given the ill-structured nature of evaluating ICFR issues and the impact of these issues on audit quality, combining knowledge from different perspectives is likely beneficial. Drawing on social identity theory, I predict and find that a weaker one-team identity between auditors and IT specialists yields benefits. Auditors with a weaker ...
