6期

最新文章

• Long-Term Impact of Economic Conditions on Auditors' Judgment AI翻译
  作者：He, Xianjie; Kothari, S. P.; Xiao, Tusheng; Zuo, Luo
  作者单位：Shanghai University of Finance & Economics; Massachusetts Institute of Technology (MIT); Central University of Finance & Economics; Cornell University
  摘要：We find that economic conditions at the time an auditor enters the labor market have a long-term impact on her judgment and decision making. Specifically, engagement partners who started their career during economic downturns issue audit adjustments more frequently. For the subsample of company-years with no audit adjustments, downturn auditors are more likely to issue a modified audit opinion. In addition, companies audited by downturn auditors are less likely to violate financial reporting a...
• Are Credit Ratings More Rigorous for Widely Covered Firms? AI翻译
  作者：Bonsall, Samuel B.; Green, Jeremiah R.; Muller, Karl A., III
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
  摘要：We study how business press coverage can discipline credit rating agency actions. Because of their greater prominence and visibility to market participants, more widely covered firms can pose greater reputational costs for rating agencies. Consistent with rating agencies limiting such risk, we find that ratings for more widely covered firms are more timely and accurate, downgraded earlier and systematically lower in the year prior to default, and better predictors of default and non-default. W...
• Accounting in 2036: A Learned Profession Part III: Accounting Education to Foster Learned Profession Globally AI翻译
  作者：Hiramatsu, Kazuo
  作者单位：Kwansei Gakuin University
• Management Disclosures of Going Concern Uncertainties: The Case of Initial Public Offerings AI翻译
  作者：Bochkay, Khrystyna; Chychyla, Roman; Sankaraguruswamy, Srini; Willenborg, Michael
  作者单位：University of Miami; National University of Singapore; University of Connecticut
  摘要：We study the information content and determinants associated with voluntary management disclosures of going concern (GC) uncertainties by IPO issuers. In terms of information content, we examine IPO price revision and initial return and find robust support that management GC disclosures are associated with downward revisions in the IPO offer price and, upon considering the mediating effects of the price revision, also associated with lower initial returns. In terms of determinants, and after c...
• Headline Salience, Managerial Opportunism, and Over- and Underreactions to Earnings AI翻译
  作者：Huang, Xuan; Nekrasov, Alexander; Teoh, Siew Hong
  作者单位：California State University System; California State University Long Beach; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of California System; University of California Irvine
  摘要：Limited attention theory predicts that higher salience of earnings news implies a stronger immediate market reaction to earnings news and a weaker post-earnings announcement drift (PEAD) or reversal (PEAR). Using a new measure, SALIENCE, defined as the number of quantitative items in an earnings press release headline, we find strong evidence consistent with salience effects. Higher SALIENCE is associated with stronger announcement reaction and subsequent PEAR. Managers are more likely to choo...
• The Impact of Fair Value Measurement for Bank Assets on Information Asymmetry and the Moderating Effect of Own Credit Risk Gains and Losses AI翻译
  作者：Fontes, Joana C.; Panaretou, Argyro; Peasnell, Kenneth V.
  作者单位：Universidade Catolica Portuguesa; Lancaster University
  摘要：We examine whether the use of fair value measurement (FVM) for bank assets reduces information asymmetry among equity investors (bid-ask spread) and how this is affected by the recognition of own credit risk gains and losses (OCR). Our findings show that FVM of assets is associated with noticeably lower information asymmetry, and that this reduction is more than twice as large when banks also recognize OCR. In addition, we find that the bid-ask spread is incrementally lower for banks that prov...
• Goodwill Impairment: The Effects of Public Enforcement and Monitoring by Institutional Investors AI翻译
  作者：Glaum, Martin; Landsman, Wayne R.; Wyrwa, Sven
  作者单位：WHU - Otto Beisheim School of Management; University of North Carolina; University of North Carolina Chapel Hill; Justus Liebig University Giessen
  摘要：This study investigates the determinants of goodwill impairment decisions by firms applying IFRS based on a comprehensive sample of stock-listed firms from 21 countries. Multivariate logistical regression findings indicate that goodwill impairment incidence is negatively associated with economic performance, but also related to proxies for managerial and firm-level incentives. In addition, whereas goodwill impairment tends to be timely for firms in high enforcement countries, firms in low enfo...
• Is Silence Golden? Audit Team Leader Reactions to Subordinates Who Speak Up In the Moment'' and at Performance Appraisal AI翻译
  作者：Nelson, Mark W.; Proell, Chad A.
  作者单位：Cornell University; Texas Christian University
  摘要：This paper examines audit team leader reactions to auditors who speak up about potentially important audit issues. Study 1 is a survey of interacting audit teams and provides evidence of higher performance evaluations for auditors who speak up. Studies 2, 3, and 4 are experiments examining team leader reactions to speaking up, both at the time speaking up occurs (Study 2) and later, during performance evaluation (Studies 2, 3, and 4). Results provide evidence that team leaders react with irrit...
• Life Cycle Models and Forecasting Growth and Profitability AI翻译
  作者：Vorst, Patrick; Yohn, Teri Lombardi
  作者单位：Maastricht University; Indiana University System; Indiana University Bloomington
  摘要：Mean reversion in profitability and growth is a well-documented phenomenon; however, comparatively less is known about the level of analysis that best captures mean reversion. In this study, we find that analyzing firms by life cycle stage improves the out-of-sample accuracy of profitability and growth forecasts over analyzing firms pooled across the economy and analyzing firms by industry. The improved accuracy is robust to both short-term and long-term forecasts of profitability and growth. ...
• Accounting Conservatism and Incentives: Intertemporal Considerations AI翻译
  作者：Glover, Jonathan C.; Lin, Haijin H.
  作者单位：Columbia University; University of Houston System; University of Houston
  摘要：We study intertemporal incentive properties of conditional accounting conservatism. Conservatism has detrimental and beneficial properties. In our first model, conservatism introduces downward bias in the first period; any understatement of first-period performance is reversed in the second period. A conservative bias is not costly in the first period but instead is costly in the second period when a new manager may be rewarded for the performance of his predecessor. In an extension on learnin...