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作者：Carcello, Joseph V.; Li, Chan
作者单位：University of Tennessee System; University of Tennessee Knoxville; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：This paper investigates the effects on audit quality and audit fees of requiring the engagement partner to sign the audit report in the United Kingdom (U. K.). The effect of requiring the engagement partner to sign the audit report is timely since the Public Company Accounting Oversight Board (PCAOB) is considering mandating a similar requirement in the United States (U. S.). In the first year after the introduction of the signature requirement, we find a significant decline in abnormal accrua...
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作者：Kim, Yongtae; Li, Siqi; Pan, Carrie; Zuo, Luo
作者单位：Santa Clara University; Massachusetts Institute of Technology (MIT)
摘要：Using seasoned equity offerings (SEOs) from 1989 to 2008, we examine the role of accounting conservatism in the equity market. We find that issuers with a greater degree of conservatism experience fewer negative market reactions to SEO announcements. We further show that an important mechanism through which conservatism affects SEO announcement returns is by mitigating the negative impact of information asymmetry. Additional analyses suggest that our results are not driven by the effects of ot...
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作者：Bertomeu, Jeremy; Cheynel, Edwige
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); Columbia University
摘要：This article develops a theory of standard-setting in which accounting standards emerge endogenously from an institutional bargaining process. It provides a unified framework with investment and voluntary disclosure to examine the links between regulatory institutions and accounting choice. We show that disclosure rules tend to be more comprehensive when controlled by a self-regulated professional organization than when they are under the direct oversight of elected politicians. These institut...
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作者：Du, Kai; Zhang, X. Frank
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Yale University
摘要：We examine firms' financial reporting practices during the missing months that are induced by fiscal year changes and not covered by regular quarters. We find that firms tend to report much lower income for the missing months than for adjacent quarters, mainly by recording higher operating expenses. We also find that managers have various incentives to manage earnings. Executive compensation is not tied to firm performance in the transition period as it is in adjacent fiscal years. Growth firm...
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作者：Madsen, Paul E.
作者单位：State University System of Florida; University of Florida
摘要：Following the Civil Rights Movement and the quiet revolution in women's work over the years from 1950 to 1970, women and minorities increasingly joined the auditing profession while the profession ramped up efforts to encourage integration. The purpose of this study is to rigorously examine how the integration of auditors has evolved since the civil rights and quiet revolution period. The primary distinctive feature of this study is that it evaluates the auditing profession's integration by co...
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作者：Thornock, Jacob
作者单位：University of Washington; University of Washington Seattle
摘要：This study examines the effects of dividend taxation on the primary parties involved in a short sale: the lender of the stock and the short seller. For stock lenders, dividend taxation is associated with a decrease in the supply of shortable shares and an increase in equity lending fees around the dividend record date. For short sellers, potential reimbursement costs are associated with a significant decrease in short volume before the ex-dividend date followed by a significant increase after ...
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作者：Linck, James S.; Netter, Jeffry; Shu, Tao
作者单位：Southern Methodist University; University System of Georgia; University of Georgia
摘要：Despite a large literature on discretionary accruals, how the use of discretionary accruals impacts corporate financial decisions is not well understood. We hypothesize that a financially constrained firm with valuable projects can use discretionary accruals to credibly signal positive prospects, enabling it to raise capital to make the investments. We examine a large panel of firms during 1987 to 2009 and find that financially constrained firms with good investment opportunities have signific...
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作者：Chiu, Peng-Chia; Teoh, Siew Hong; Tian, Feng
作者单位：University of California System; University of California Irvine; University of Hong Kong
摘要：We test whether earnings management spreads between firms via shared directors. We find that a firm is more likely to manage earnings when it shares a common director with a firm that is currently managing earnings and is less likely to manage earnings when it shares a common director with a non-manipulator. Earnings management contagion is stronger when the shared director has a leadership or accounting-relevant position (e. g., audit committee chair or member) on its board or the contagious ...
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作者：Hoi, Chun Keung; Wu, Qiang; Zhang, Hao
作者单位：Rochester Institute of Technology; Rensselaer Polytechnic Institute
摘要：We examine the empirical association between corporate social responsibility (CSR) and tax avoidance. Our findings suggest that firms with excessive irresponsible CSR activities have a higher likelihood of engaging in tax-sheltering activities and greater discretionary/permanent book-tax differences. Moreover, at the onset of FASB Interpretation No. 48, these firms have more uncertain tax positions; also, these firms' initial tax positions are likely supported by weaker facts and circumstances...
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作者：Chen, Zhihong; Guan, Yuyan; Ke, Bin
作者单位：City University of Hong Kong; Nanyang Technological University
摘要：We examine the determinants and consequences of stock option compensation to directors of state-controlled Chinese firms that are incorporated outside China and listed in Hong Kong, referred to as state-controlled Red Chip firms, over the period 1990-2005. We find that state-controlled Red Chip firms granted directors a significant number of stock options in response to the demand of foreign investors. However, state-controlled Red Chip firms forced the directors to forfeit a significant perce...
