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作者：Qiu, Buhui; Slezak, Steve L.
作者单位：University of Sydney; University System of Ohio; University of Cincinnati
摘要：We develop an agency model in which managerial information manipulation creates pooling and entails ex post costs internal and/or external to the firm. We examine the implications of the strategic interactions between shareholders (who set internal governance and managerial incentive compensation), the manager (who exerts effort and reports on its outcome), and an external regulatory authority or RA (who investigates for fraud and levies penalties ex post). When the RA cannot pre-commit to an ...
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作者：Badertscher, Brad A.; Katz, Sharon P.; Rego, Sonja Olhoft; Wilson, Ryan J.
作者单位：University of Notre Dame; INSEAD Business School; Indiana University System; Indiana University Bloomington; University of Oregon
摘要：In this study, we develop a measure of corporate tax avoidance that reduces both financial and taxable income, which we refer to as book-tax conforming tax avoidance. We use simulation analyses, LIFO/FIFO inventory method conversions, and samples of private and public firms to validate our measure. We then investigate the prevalence of conforming tax avoidance within a sample of public firms. Results from the validation tests indicate that our measure of conforming tax avoidance successfully c...
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作者：Anantharaman, Divya; Wans, Nader
作者单位：Rutgers University System; Rutgers University New Brunswick; Memorial University Newfoundland
摘要：We measure two dimensions of SOX 404 audit quality: (1) whether auditors identify and report material weaknesses (MWs) in a timely fashion, and (2) on identifying MWs, whether auditors identify misstatements arising from MWs in a timely fashion. We find that audit practice-offices with a large base of SOX 404(b) clients and those with a long history of conducting control evaluations for that client are more likely (1) to identify and report MWs in a timely manner (i.e., before resulting restat...
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作者：Botosan, Christine. A.
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作者：Edwards, Alexander; Hutchens, Michelle; Rego, Sonja Olhoft
作者单位：University of Toronto; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Indiana University System; Indiana University Bloomington
摘要：This study examines a new form of initial public offerings, supercharged'' IPOs, where a firm-organized pre-IPO as a pass-through entity undergoes a series of transactions that steps-up the adjusted tax basis of the IPO firm's assets. This step-up imposes tax liabilities on pre-IPO owners, but also creates significant future tax benefits for the firm; the average anticipated deferred tax asset is $486 million ($13 per share) for our sample of supercharged IPO firms. Pursuant to tax receivable ...
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作者：Heinrichs, Anne; Park, Jihwon; Soltes, Eugene F.
作者单位：Columbia University; Harvard University
摘要：Using a set of proprietary records, we examine who consumes quarterly earnings conference calls and under which circumstances the calls are consumed. While there is significant interest in calls by institutional investors and sell-side analysts, we find that investors who do not hold a position in the firm are a leading consumer. We show that buy-side non-holders who consume calls are more likely to hold positions in competitors and to purchase the stock in the future. In addition, many invest...
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作者：Pfister, Jan A.; Lukka, Kari
作者单位：University of Turku
摘要：This field study investigates an empirical setting where the introduction of new formal results controls-stretch targets for productivity that are seemingly unachievable with current process efficiencies-is associated with high productivity gains over extended periods of time. Contrary to findings from the prior management accounting research, employees meet the targets by being creative and risk-taking in continuously innovating processes, despite the pressure induced by high target-level dif...
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作者：Sloan, Richard G.
作者单位：University of Southern California
摘要：In their classic text Security Analysis, Graham and Dodd (1934) warn investors against sole reliance on a few quantitative factors in investment decisions. Instead, they recommend that investment decisions be based on a comprehensive fundamental analysis of the underlying securities. While their views held sway for many decades, recent years have witnessed a sharp reversal. Scholars of finance often overlook fundamental analysis, and their influence has led to a surge of investment products re...
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作者：Chen, Shannon; Schuchard, Kathleen; Stomberg, Bridget
作者单位：University of Arizona; University of Tennessee System; University of Tennessee Knoxville; Indiana University System; Indiana University Bloomington
摘要：Managers express growing concern over media coverage of corporate taxes, yet no large-sample empirical study examines this phenomenon. As a first step to fill this void, we identify factors associated with the likelihood and negative tone of media tax coverage and examine firms' tax avoidance behavior following media tax coverage. We find the likelihood of media tax coverage is greater for firms with GAAP effective tax rates below the top U.S. statutory rate of 35 percent and for firms with gr...
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作者：Ghannam, Samir; Bugeja, Martin; Matolcsy, Zoltan P.; Spiropoulos, Helen
作者单位：University of Technology Sydney
摘要：We investigate whether qualified and experienced directors are willing to join firms following the revelation of financial fraud. Specifically, we focus on directors with prior board experience and accounting and legal experts. We find that, notwithstanding the tarnished reputation of fraudulent firms and a higher workload, qualified and experienced directors join the boards of such firms. Subsequent to joining fraudulent firms, directors are rewarded with additional future board seats and ben...
