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最新文章

• A Marathon, a Series of Sprints, or Both? Tournament Horizon and Dynamic Task Complexity in Multi-Period Settings AI翻译
  作者：Choi, Jongwoon (Willie); Newman, Andrew H.; Tafkov, Ivo D.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of South Carolina System; University of South Carolina Columbia; University System of Georgia; Georgia State University
  摘要：When using a tournament in multi-period settings, firms have discretion in selecting the tournament horizon. For example, firms can use a single tournament (a grand tournament) or a sequence of multiple tournaments, each with a shorter horizon than a grand tournament (a repeated tournament). Firms have also begun to use a combination of both in which a repeated tournament is embedded within a grand tournament (a hybrid tournament). Using an experiment, we investigate whether the effect of tour...
• Risk Disclosure Preceding Negative Outcomes: The Effects of Reporting Critical Audit Matters on Judgments of Auditor Liability AI翻译
  作者：Brasel, Kelsey; Doxey, Marcus M.; Grenier, Jonathan H.; Reffett, Andrew
  作者单位：Ball State University; University of Alabama System; University of Alabama Tuscaloosa; University System of Ohio; Miami University
  摘要：Audit practitioners, academics, and attorneys have expressed concern that disclosing critical auditmatters (CAMs) will increase jurors' auditor liability judgments when auditors fail to detect misstatements. In contrast, this study provides theory and experimental evidence that CAM disclosures, under certain conditions, reduce auditor liability judgments as jurors perceive that undetected fraudulent misstatements were more foreseeable to the plaintiff (i.e., the financial statement user suing ...
• Dynamic Decision Making Using the Balanced Scorecard Framework AI翻译
  作者：Humphreys, Kerry A.; Gary, Michael Shayne; Trotman, Ken T.
  作者单位：University of New South Wales Sydney
  摘要：This study examines the effects that two balanced scorecard framework (BSF) elements, causal linkages between strategic objectives (causal linkages'') and time delay information (delays'') in a strategy map, have on long-term profit performance in a dynamic decision-making environment. Using a computer-based simulation task, we conduct a 33(4) experiment (control group; causal linkages without delays; causal linkages with delays; four simulation rounds) and find that managers presented with ca...
• Do SOX 404 Control Audits and Management Assessments Improve Overall Internal Control System Quality? AI翻译
  作者：Schroeder, Joseph H.; Shepardson, Marcy L.
  作者单位：Indiana University System; Indiana University Bloomington
  摘要：We address whether SOX 404(b) internal control audits under two auditing standards regimes and SOX 404(a) management assessments are associated with improved internal control system quality, an important and largely unstudied potential benefit. In 2013, the PCAOB disclosed that 15 percent of inspected control audits were ineffective, suggesting that the current control auditing standard may not be sufficient to induce implementation of high-quality control systems. We use an indirect measure o...
• Credit Derivatives and Analyst Behavior AI翻译
  作者：Batta, George Eli; Qiu, Jiaping; Yu, Fan
  作者单位：Claremont Colleges; Claremont Graduate University; Claremont McKenna College; McMaster University
  摘要：This paper presents a comprehensive analysis of the role of credit default swaps (CDS) in information production surrounding earnings announcements. First, we demonstrate that the strength of CDS price discovery prior to earnings announcements is related to the presence of private information and the illiquidity of the underlying corporate bonds, consistent with the CDS market being a preferred venue for informed trading. Next, we ask how the information revealed through CDS trading influences...
• The Effect of Target Difficulty on Target Completion: The Case of Reducing Carbon Emissions AI翻译
  作者：Ioannou, Ioannis; Li, Shelley Xin; Serafeim, George
  作者单位：University of London; London Business School; Harvard University
  摘要：Targets are an integral component of management control systems and play a significant role in achieving desirable performance outcomes. We focus on a key environmental performance objective-reduction of carbon emissions-as a setting in which to examine how target difficulty affects the degree of target completion in long-term non-financial performance. We use a novel dataset compiled by the Carbon Disclosure Project (CDP) and find that firms setting more difficult targets complete a higher pe...
• Did the PCAOB's Restrictions on Auditors' Tax Services Improve Audit Quality? AI翻译
  作者：Lennox, Clive S.
  作者单位：University of Southern California
  摘要：In 2005-2006, the PCAOB imposed restrictions on auditors' tax services in order to strengthen auditor independence and improve audit quality. The restrictions resulted in a significant drop in auditor-provided tax services (APTS). To test the impact on audit quality, I partition the sample into a treatment group (companies whose APTS purchases dropped significantly when the restrictions were introduced) and a control group (companies whose APTS purchases were relatively unaffected) and I measu...
• Cost of Capital Free-Riders AI翻译
  作者：Baginski, Stephen P.; Hinson, Lisa A.
  作者单位：University System of Georgia; University of Georgia
  摘要：We document the interrelationship of disclosure policy decisions among firms by providing evidence that the cessation of quarterly management forecast guidance by 656 firms (stoppers'') during 2004-2009 is associated with a pursuant increase in quarterly forecasts by previously non-forecasting firms in the same industries (free-riders''). Increased forecasting by free-riders is positively associated with the information loss in the industry (proxied by the number of stoppers in the industry, t...
• Do Income Tax-Related Deficiencies in Publicly Disclosed PCAOB Part II Reports Influence Audit Client Financial Reporting of Income Tax Accounts? AI翻译
  作者：Drake, Katharine D.; Goldman, Nathan C.; Lusch, Stephen J.
  作者单位：University of Arizona; University of Texas System; University of Texas Dallas; University of Kansas
  摘要：Deloitte's 2007 PCAOB Part II report identifies, among other issues, concerns related to the audit firm's quality controls with respect to auditing income tax accounts. We investigate whether Deloitte's actions to remediate the PCAOB's concerns are associated with changes to their clients' financial reporting for income taxes. We find that Deloitte's clients increased the reported valuation allowance on deferred tax assets and increased the reported reserve for uncertain tax benefits (UTBs) in...
• Financial Reporting Quality of Chinese Reverse Merger Firms: The Reverse Merger Effect or the Weak Country Effect? AI翻译
  作者：Chen, Kun-Chih; Cheng, Qiang; Lin, Ying Chou; Lin, Yu-Chen; Xiao, Xing
  作者单位：National Taiwan University; Singapore Management University; National Cheng Kung University; Tsinghua University
  摘要：In this paper, we examine why Chinese reverse merger (RM) firms have lower financial reporting quality than U.S. IPO firms. We find that the financial reporting quality of U.S. RM firms is similar to that of matched U.S. IPO firms, but Chinese RM firms exhibit lower financial reporting quality than Chinese ADR firms. We also find that Chinese RM firms exhibit lower financial reporting quality than U.S. RM firms. These results indicate that the use of the RM process is associated with poor fina...