4期

最新文章

• Vicarious Learning under Implicit Contracts AI翻译
  作者：Choi, Jongwoon (Willie); Hecht, Gary; Tafkov, Ivo D.; Towry, Kristy L.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Illinois System; University of Illinois Urbana-Champaign; University System of Georgia; Georgia State University; Emory University
  摘要：Employee contracts often allow for managerial discretion, such that the manager decides after observing an employee's performance how that employee will be rewarded or penalized. Importantly, the effects of such evaluation outcomes can extend beyond the employee(s) directly affected, because such outcomes can be observed by other employees within the firm. The net effect of such vicarious learning as an indirect control depends on the inferences employees make after observing a peer's evaluati...
• Political Standards: Corporate Interest, Ideology, and Leadership in the Shaping of Accounting Rules for the Market Economy AI翻译
  作者：Soll, Jacob S.
  作者单位：University of Southern California
• Internal Governance and Real Earnings Management AI翻译
  作者：Cheng, Qiang; Lee, Jimmy; Shevlin, Terry
  作者单位：Singapore Management University; University of California System; University of California Irvine
  摘要：We examine whether internal governance affects the extent of real earnings management in U.S. corporations. Internal governance refers to the process through which key subordinate executives provide checks and balances in the organization and affect corporate decisions. Using the number of years to retirement to capture key subordinate executives' horizon incentives and using their compensation relative to CEO compensation to capture their influence within the firm, we find that the extent of ...
• One Size Does Not Fit All: How the Uniform Rules of FIN 48 Affect the Relevance of Income Tax Accounting AI翻译
  作者：Robinson, Leslie A.; Stomberg, Bridget; Towery, Erin M.
  作者单位：Dartmouth College; University System of Georgia; University of Georgia
  摘要：Our study examines how the uniform rules of FIN 48, which governs accounting for income tax uncertainty, affect the relevance of income tax accounting. By requiring all firms to follow the same recognition and measurement process, the FASB intended FIN 48 to improve the relevance of income tax accounting. However, practitioners argue that reserves reported under FIN 48 lack relevance because they represent liabilities that will never be paid to tax authorities. Consistent with these concerns, ...
• The Capital Market Consequences of Language Barriers in the Conference Calls of Non-US Firms AI翻译
  作者：Brochet, Francois; Naranjo, Patricia; Yu, Gwen
  作者单位：Boston University; Rice University; Harvard University
  摘要：We examine how language barriers affect the capital market reaction to information disclosures. Using transcripts from non-U.S. firms' English-language conference calls, we find that the calls of firms in countries with greater language barriers are more likely to contain non-plain English and erroneous expressions. For non-U.S. firms that hire an English-speaking manager, we find less use of non-plain English and fewer erroneous expressions. Calls with a greater use of non-plain English and m...
• Hedging Executive Compensation Risk through Investment Banks AI翻译
  作者：Dye, Ronald A.; Sridhar, Sri S.
  作者单位：Northwestern University
  摘要：Allowing CEOs to hedge the risk in the compensation contracts their firms give them has been controversial because such hedging allows the executives to undo some of the incentive effects of those contracts; it also results in a divergence between the compensation firms pay their senior executives and the compensation those executives effectively receive. We analyze these personal hedging activities of CEOs and identify when firms may gain or lose by allowing or prohibiting such hedging. We al...
• The Effect of Employee Treatment Policies on Internal Control Weaknesses and Financial Restatements AI翻译
  作者：Guo, Jun; Huang, Pinghsun; Zhang, Yan; Zhou, Nan
  作者单位：Rutgers University System; Rutgers University Camden; Rutgers University New Brunswick; National Cheng Kung University; State University of New York (SUNY) System; Binghamton University, SUNY
  摘要：This study investigates the role of employment policies in reducing internal control ineffectiveness and financial restatements. We provide new evidence that employee treatment policies are an important predictor of ineffective internal control. We also find that employee-friendly policies significantly reduce the propensity for employee-related material weaknesses. These results suggest that greater employee benefits facilitate the acquisition, development, and motivation of the workforce and...
• The Interactive Role of Difficulty and Incentives in Explaining the Annual Earnings Forecast Walkdown AI翻译
  作者：Bradshaw, Mark T.; Lee, Lian Fen; Peterson, Kyle
  作者单位：Boston College; University of Oregon
  摘要：The within-year walkdown of analysts' earnings forecasts has largely been attributed to analysts' incentives to curry favor with managers. We appeal to cognitive psychology literature on motivated reasoning and propose that forecasting difficulty interacts with such incentives to yield the observed walkdown. Higher forecasting difficulty generates a wider range of outcomes from which analysts can justify optimistically biased forecasts. In regression analyses, we find that the interaction betw...
• Real Earnings Management and Long-Term Operating Performance: The Role of Reversals in Discretionary Investment Cuts AI翻译
  作者：Vorst, Patrick
  作者单位：Maastricht University
  摘要：I examine whether a reversal of an abnormal cut in discretionary investments is associated with the degree to which the cut is reflective of real earnings management (REM) and whether and how it predicts future operating performance. I define a reversal as occurring when a firm cuts discretionary investments to a below-expected level in one period and reverts back to at least the expected level of investment during the next period. Unlike accrual earnings management, REM involves deliberately ...
• Corporate Diversification and the Cost of Debt: The Role of Segment Disclosures AI翻译
  作者：Franco, Francesca; Urcan, Oktay; Vasvari, Florin P.
  作者单位：University of London; London Business School; University of Illinois System; University of Illinois Urbana-Champaign
  摘要：Previous theoretical arguments suggest that industrial diversification provides a co-insurance effect that decreases the firm's default risk. In this paper, we endogenously estimate a firm's segment disclosure quality and investigate whether the quality of segment disclosures significantly affects bond investors' assessment of the co-insurance effect of diversification. We document that bonds issued by industrially diversified firms with high-quality segment disclosures have significantly lowe...