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作者：Shipman, Jonathan E.; Swanquist, Quinn T.; Whited, Robert L.
作者单位：University of Arkansas System; University of Arkansas Fayetteville; University System of Georgia; Georgia State University; University of Massachusetts System; University of Massachusetts Amherst
摘要：Propensity score matching (PSM) has become a popular technique for estimating average treatment effects (ATEs) in accounting research. In this study, we discuss the usefulness and limitations of PSM relative to more traditional multiple regression (MR) analysis. We discuss several PSM design choices and review the use of PSM in 86 articles in leading accounting journals from 2008-2014. We document a significant increase in the use of PSM from zero studies in 2008 to 26 studies in 2014. However...
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作者：Wilde, Jaron H.
作者单位：University of Iowa
摘要：U.S. laws provide explicit whistleblower protections and direct regulators to adopt ambitious programs to reward whistleblowing. However, there is limited evidence on whether employee whistleblowing deters financial misreporting and tax aggressiveness. Using a sample of employee whistleblower cases obtained from the U.S. government, I provide evidence that firms subject to whistleblowing allegations exhibit significant decreases in financial misreporting and tax aggressiveness, compared with c...
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作者：Bratten, Brian; Gleason, Cristi A.; Larocque, Stephannie A.; Mills, Lillian F.
作者单位：University of Kentucky; University of Iowa; University of Notre Dame; University of Texas System; University of Texas Austin
摘要：We provide new evidence about how analysts incorporate and improve on management ETR forecasts. Quarterly ETR reporting under the integral method provides mandatory point-estimate forecasts by management, but firms must record certain discrete'' tax items fully in the quarter in which they occur, polluting these forecasts. We investigate management ETR accuracy, analysts' decisions to mimic management's estimate, analysts' accuracy relative to each other or to management, and dispersion. Our c...
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作者：Cheng, Lin
作者单位：University of Arizona
摘要：This paper employs a firm-level collective bargaining dataset to investigate the effect of labor, as an important stakeholder of a firm, on debt contracting. I conjecture and provide evidence that firms with strong organized labor prefer bank loans to public bonds because, by communicating with banks privately, unionized firms can reduce the adverse selection costs while preserving the information asymmetry with organized labor. Furthermore, I show that organized labor influences the structure...
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作者：Versano, Tsahi; Trueman, Brett
作者单位：Tel Aviv University; University of California System; University of California Los Angeles
摘要：This paper analyzes a manager's optimal expectations management strategy in a setting in which the manager provides forecast guidance to an analyst both privately and publicly. Conventional wisdom suggests that managers use private communications with analysts and public earnings forecasts interchangeably to guide analysts' earnings forecasts downward toward lower earnings targets. Our analysis shows that in markets with rational investors, private and public guidance play very different roles...
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作者：Amiram, Dan; Kalay, Alon; Sadka, Gil
作者单位：Columbia University; University of Texas System; University of Texas Dallas
摘要：Despite theoretical and anecdotal evidence highlighting the importance of industry-level analyses to lenders, the empirical literature on debt pricing has focused almost exclusively on firm-level forces that affect expected loss. This paper provides empirical evidence that industry-level characteristics relate to debt pricing through risk premiums. We address the empirical challenges that arise when testing these theories by using a proprietary dataset of time-varying and forward-looking measu...
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作者：Costello, Anna M.; Petacchi, Reining; Weber, Joseph P.
作者单位：University of Michigan System; University of Michigan; Georgetown University; Massachusetts Institute of Technology (MIT)
摘要：Although balanced budget rules are widely used throughout the world, there is considerable debate on whether and how they impact fiscal outcomes. Existing research shows that states with strict balanced budget rules address deficits by raising taxes and curbing expenditures. However, little is known about whether politicians can meet budget rules by shifting resources inter-temporally or by transferring revenues from funds not subject to balanced budget rules into funds that are required to me...
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作者：Krishnan, Jagan; Krishnan, Jayanthi; Song, Hakjoon
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; California State University System; California State University Dominguez Hills
摘要：We investigate the impact of the Public Company Accounting Oversight Board's (PCAOB) first-time inspections of foreign accounting firms by examining abnormal accruals around the inspection year, and the value relevance of accounting numbers around the inspection report date, for their U.S. cross-listed clients. We document lower abnormal accruals in the post-inspection period, and greater value relevance of accounting numbers in the post-report period for clients of the inspected auditors, com...
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作者：Perols, Johan L.; Bowen, Robert M.; Zimmermann, Carsten; Samba, Basamba
作者单位：University of San Diego; RWTH Aachen University
摘要：Developing models to detect financial statement fraud involves challenges related to (1) the rarity of fraud observations, (2) the relative abundance of explanatory variables identified in the prior literature, and (3) the broad underlying definition of fraud. Following the emerging data analytics literature, we introduce and systematically evaluate three data analytics preprocessing methods to address these challenges. Results from evaluating actual cases of financial statement fraud suggest ...
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作者：Li, Liuchuang; Qi, Baolei; Tian, Gaoliang; Zhang, Guochang
作者单位：Xi'an Jiaotong University; University of Hong Kong
摘要：This study examines the relation between the audit failures of individual auditors and the quality of other audits performed by these same auditors. Employing a Chinese setting where audit reports reveal the identities of engagement auditors, we find that auditors who have performed failed audits also deliver lower-quality audits on other audit engagements, with this contagion'' effect spreading both over time and to other audits performed by these same auditors in the same year. However, we f...
