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作者：Edwards, Alexander; Schwab, Casey; Shevlin, Terry
作者单位：University of Toronto; Indiana University System; Indiana University Bloomington; University of California System; University of California Irvine
摘要：We investigate the association between financial constraints and cash savings generated through tax planning. We predict that an increase in financial constraints leads firms to increase internally generated funds via tax planning. We measure financial constraints based on changes in firm-specific and macroeconomic measures. We find that firms facing increases in financial constraints exhibit increases in cash tax planning. Our results indicate that among profitable firms, firm-years with the ...
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作者：Li, Xi; Yang, Holly I.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Singapore Management University
摘要：This study examines the effect of the mandatory adoption of International Financial Reporting Standards (IFRS) on voluntary disclosure. Using a difference-in-differences analysis, we document a significant increase in the likelihood and frequency of management earnings forecasts following mandatory IFRS adoption, consistent with the notion that IFRS adoption alters firms' disclosure incentives in response to increased capital-market demand. We find the increase to be larger among firms domicil...
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作者：Majors, Tracie M.
作者单位：University of Southern California
摘要：I conduct an interactive experiment with participants in manager-and investor-like roles to examine whether and how mandating range disclosures for uncertain estimates will influence managers' reporting decisions. I find that managers report less aggressively when ranges are disclosed, such that investors have little aggressive reporting to identify using range disclosures. However, consistent with psychology theory, range disclosures have the greatest effect on managers with stronger levels o...
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作者：Irvine, Paul J.; Park, Shawn Saeyeul; Yildizhan, Celim
作者单位：Texas Christian University; University System of Georgia; University of Georgia
摘要：Using a recently expanded dataset on supplier-customer links, we introduce a dynamic relationship life-cycle hypothesis. We hypothesize that the relation between customer-base concentration and profitability is significantly negative in the early years of the relationship, but becomes positive as the relationship matures. The key driver of this dynamic is the customer-specific investments that the relationship entails. These investments result in larger fixed costs, greater operating leverage,...
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作者：Bills, Kenneth L.; Cunningham, Lauren M.; Myers, Linda A.
作者单位：University of Arkansas System; University of Arkansas Fayetteville; University of Tennessee System; University of Tennessee Knoxville
摘要：In this study, we examine the benefits of membership in an accounting firm association, network, or alliance (collectively referred to as an association''). Associations provide member accounting firms with numerous benefits, including access to the expertise of professionals from other independent member firms, joint conferences and technical trainings, assistance in dealing with staffing and geographic limitations, and the ability to use the association name in marketing materials. We expect...
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作者：Bruggen, Alexander; Luft, Joan L.
作者单位：Maastricht University; Michigan State University
摘要：Cost overruns on multi-period projects are large and frequent in natural environments. Reasons for these overruns include cost understatements in initial project proposals and escalation of commitment to projects when initial actual costs turn out to be higher than expected. Prior literature has suggested, and some firms have implemented, a device that limits escalation and thus potentially reduces cost overruns: changing decision makers (superiors) so that the manager who approves continuatio...
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作者：Lin, Ji-Chai; Wang, Yanzhi (Andrew)
作者单位：Hong Kong Polytechnic University; National Taiwan University
摘要：To explain why firms with high research and development (R&D) intensity offer their investors higher stock returns, we argue that (1) high R&D capacity relative to firm valuation makes R&D-intensive firms attractive takeover targets, and that (2) the higher takeover probability leads their investors to face higher takeover risk, as proposed by Cremers, Nair, and John (2009), and require higher returns. We find evidence consistent with our hypothesis. Furthermore, we find that takeover probabil...
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作者：Keune, Marsha B.; Mayhew, Brian W.; Schmidt, Jaime J.
作者单位：University System of Ohio; University of Dayton; University of Wisconsin System; University of Wisconsin Madison; University of Texas System; University of Texas Austin
摘要：This study examines local characteristics associated with non-Big 4 local market leadership and the impact of non-Big 4 local market leadership on competition. We identify non-Big 4 local market leaders by collecting accounting firm rankings from business publications for 46 of the largest metropolitan statistical areas from 2005-2010. These rankings are based on the number of local office employees and provide a more holistic measure of office size than measures based on public company audit ...
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作者：Baldenius, Tim; Nezlobin, Alexander A.; Vaysman, Igor
作者单位：New York University; University of California System; University of California Berkeley; City University of New York (CUNY) System; Baruch College (CUNY)
摘要：In a dynamic setting with demand following a random process, we ask how investment and operating decisions can be delegated to a manager with unknown time preferences. Only the manager observes the demand realization in each period and, therefore, has private information when choosing whether to acquire the productive asset and, subsequently, how to utilize it. We derive accrual accounting-based performance measures under which the manager will make the efficient decisions provided the investm...
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作者：Call, Andrew C.; Hewitt, Max; Shevlin, Terry; Yohn, Teri Lombardi
作者单位：Arizona State University; Arizona State University-Tempe; University of Arizona; University of California System; University of California Irvine; Indiana University System; Indiana University Bloomington
摘要：Although the differential persistence of accruals and operating cash flows is a firm-specific phenomenon, research seeking to exploit the differential persistence of these earnings components typically employs cross-sectional forecasting models. We find that a model based on firm-specific estimates of the differential persistence of accruals and operating cash flows is incrementally useful for out-of-sample forecasting relative to state-of-the-art cross-sectional models. In doing so, we show t...
