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作者：Meder, Anthony A.
作者单位：State University of New York (SUNY) System; Binghamton University, SUNY
摘要：I examine the effect of marketable security holdings on monetary policy when those securities are classified under SFAS 115. Prior research has shown that loan growth is negatively related to monetary contractions, and that marketable security holdings mitigate that negative relationship. Those studies consider the securities in aggregate; I am the first to consider the securities classification in conjunction with monetary policy. I ask whether held-to-maturity securities, relative to non-hel...
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作者：Ohlson, James A.; Bilinski, Pawel
作者单位：Hong Kong Polytechnic University; City St Georges, University of London
摘要：Research suggesting the existence of the accrual anomaly runs into the issue that risk serves as a competing explanation for abnormal returns. This paper proposes a novel approach to distinguish between risk and anomaly explanations for the negative association between accruals and returns. The intuition is that high-risk stocks should experience relatively high and low returns more often than low-risk stocks. Thus, a variable that has the opposite correlations with high returns than with low ...
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作者：Chen, Xia; Cheng, Qiang; Lo, Alvis K.; Wang, Xin
作者单位：Singapore Management University; Boston College; University of Hong Kong
摘要：How to address managerial short-termism is an important issue for companies, regulators, and researchers. We examine the effect of CEO contractual protection, in the form of employment agreements and severance pay agreements, on managerial short-termism. We find that firms with CEO contractual protection are less likely to cut R&D expenditures to avoid earnings decreases and are less likely to engage in real earnings management. The effect of CEO contractual protection is both statistically an...
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作者：Evans, Mark E.; Houston, Richard W.; Peters, Michael F.; Pratt, Jamie H.
作者单位：Wake Forest University; University of Alabama System; University of Alabama Tuscaloosa; Villanova University; Indiana University System; Indiana University Bloomington
摘要：Based on data collected from 616 experienced financial officers who use U.S. GAAP or IFRS and are domiciled in the U.S., Europe, or Asia, we examine how reporting standards (U.S. GAAP versus IFRS) and domicile (U.S. versus non-U.S.) affect earnings management (real versus accrual). U.S. firms using U.S. GAAP rely more heavily on real methods than non-U.S. firms that use either IFRS or U.S. GAAP and U.S. firms using IFRS. U.S. firms using U.S. GAAP operate in an environment that encourages real...
