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作者：Huang, Hua-Wei; Raghunandan, K.; Huang, Ting-Chiao; Chiou, Jeng-Ren
作者单位：National Cheng Kung University; State University System of Florida; Florida International University; Monash University
摘要：Issues related to low-balling of initial year audit fees and the resultant impact on audit quality have received significant attention from regulators in many countries. Using 9,684 observations from China during the years 2002-2011, we find that there is a significant initial year audit fee discount following an audit firm change when both of the signing audit partners are different from the prior year. The evidence is mixed if one or both of the signing partners from the prior year also move...
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作者：Bhojraj, Sanjeev; Libby, Robert
作者单位：Cornell University
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作者：De Simone, Lisa; Ege, Matthew S.; Stomberg, Bridget
作者单位：Stanford University; Texas A&M University System; Texas A&M University College Station; University System of Georgia; University of Georgia
摘要：We propose that auditor-provided tax services (tax NAS) improve internal control quality by accelerating audit firm awareness of transactions material to the financial statements. Using data from 2004 to 2012, we find robust evidence that companies purchasing tax NAS are significantly less likely to disclose a material weakness and that this result is not due to auditor independence impairment. A one-standard-deviation increase in tax NAS is associated with approximately a 13 percent decrease ...
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作者：Hunton, James E.; Mauldin, Elaine G.; Wheeler, Patrick R.
作者单位：Bentley University; University of Missouri System; University of Missouri Columbia
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作者：Hunton, James E.; Libby, Robert; Mazza, Cheri L.
作者单位：Bentley University; Cornell University; Fordham University
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作者：Bonaime, Alice Adams
作者单位：University of Kentucky
摘要：This paper examines changes in corporate behavior around the 2003 modification to SEC Rule 10b-18, which mandates enhanced disclosure of repurchase transactions. Firms announce significantly fewer and slightly smaller open market repurchase plans in the enhanced disclosure environment. However, completion rates (the amount of stock repurchased as a percentage of the announced amount) significantly increase. More conservative announcement strategies and more aggressive completion rates are cons...
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作者：Hales, Jeffrey; Wang, Laura W.; Williamson, Michael G.
作者单位：University System of Georgia; Georgia Institute of Technology; University of Illinois System; University of Illinois Urbana-Champaign; University of Texas System; University of Texas Austin
摘要：We investigate a potential selection benefit of stock-based compensation for rank-and-file employees, whose pay under this compensation form is insensitive to their individual efforts. We use a laboratory experiment to demonstrate that individuals with higher levels of dispositional optimism are more likely to choose compensation that is contingent on a company's future stock price than to choose fixed pay, even after controlling for the individual's risk preferences. Furthermore, compared to ...
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作者：Hunton, James E.; McEwen, Ruth Ann
作者单位：State University System of Florida; University of South Florida; Virginia Commonwealth University
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作者：Seybert, Nicholas
作者单位：University of Texas System; University of Texas Austin
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作者：Sabac, Florin; Tian, Jie (Joyce)
作者单位：University of Alberta; University of Waterloo
摘要：We characterize the necessary and sufficient conditions for communication of private, unverifiable managerial information to be valuable for stewardship purposes. First, the hard, verifiable information must be able to confirm to some extent the truthfulness of the manager's soft, unverifiable report. Second, neither the hard, verifiable information nor the soft, unverifiable managerial report should be too informative for providing effort incentives because that makes it harder to motivate tr...
