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作者：Kraft, Pepa
作者单位：New York University
摘要：I examine a dataset of both quantitative (hard) adjustments to firms' reported U.S. GAAP financial statement numbers and qualitative (soft) adjustments to firms' credit ratings that Moody's develops and uses in its credit rating process. I first document differences between firms' reported and Moody's adjusted numbers that are both large and frequent across firms. For example, primarily because of upward adjustments to interest expense and debt attributable to firms' off-balance sheet debt, on...
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作者：Lamoreaux, Phillip T.; Michas, Paul N.; Schultz, Wendy L.
作者单位：Arizona State University; Arizona State University-Tempe; University of Arizona; University of Manitoba
摘要：We investigate the role of accounting and audit quality in the allocation of international development aid loans provided by the World Bank. This aid is crucial to improve governance functions, infrastructure, and capital markets, and the accounting and audit environments in a country can provide the World Bank with confidence that aid is being used as intended rather than being diverted for personal or political gain. We find that development aid loans are higher for countries with stronger a...
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作者：Harris, Erica; Petrovits, Christine M.; Yetman, Michelle H.
作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Camden; William & Mary; University of California System; University of California Davis
摘要：We examine whether donors reward nonprofit organizations that report better governance. From a sample of 10,846 organizations from 2008 to 2010, we first identify seven nonprofit governance dimensions using factor analysis. We then test whether the quality of governance influences donor decisions by including the seven governance factors in the standard donor's demand model. We find consistent evidence that donations and government grants are positively associated with six of the seven factors...
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作者：Douthit, Jeremy D.; Stevens, Douglas E.
作者单位：University of Arizona; University System of Georgia; Georgia State University
摘要：Rankin, Schwartz, and Young (2008) find experimental evidence that manipulating whether the budget request of the subordinate requires a factual assertion has no effect on budgetary slack when the superior can reject the budget. This calls into question the role of honesty in participative budgeting settings. Using Rankin et al.'s (2008) manipulation to capture honesty effects, we examine the robustness of honesty effects on budget proposals when the superior has rejection authority in two exp...
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作者：Feng, Mei; Li, Chan; McVay, Sarah E.; Skaife, Hollis
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Washington; University of Washington Seattle; University of California System; University of California Davis
摘要：We investigate whether ineffective internal control over financial reporting has implications for firm operations by examining the association between inventory-related material weaknesses in internal control over financial reporting and firms' inventory management. We find that firms with inventory-related material weaknesses have systematically lower inventory turnover ratios and are more likely to report inventory impairments relative to firms with effective internal control over financial ...
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作者：Williams, Christopher D.
作者单位：University of Michigan System; University of Michigan
摘要：This study empirically examines the role of shocks to macro-uncertainty in shaping the responses of stock market participants to firm-specific earnings news. Specifically, I find that investors place greater weight on bad news following an increase in macro-uncertainty. By contrast, I find that investors place equal weight on both good and bad news following a decrease in macro-uncertainty. Furthermore, my findings show that these effects are more pronounced (1) for firms whose prior returns a...
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作者：Dhole, Sandip; Khumawala, Saleha B.; Mishra, Sagarika; Ranasinghe, Tharindra
作者单位：University of Melbourne; University of Houston System; University of Houston; Deakin University; Singapore Management University
摘要：This study examines the impact of the California Nonprofit Integrity Act of 2004 on CEO compensation costs in affected organizations. Contrary to the stated objective of the Act that executive compensation is just and reasonable, we find that CEO compensation costs for affected nonprofits during the post-regulation periods have increased by about 6.3 percent when compared with a control group of comparable unaffected nonprofits. In addition, the relative increase in CEO compensation appears to...
