4期

最新文章

• Relation between Audit Effort and Financial Report Misstatements: Evidence from Quarterly and Annual Restatements AI翻译
  作者：Lobo, Gerald J.; Zhao, Yuping
  作者单位：University of Houston System; University of Houston
  摘要：We identify two research design issues that explain the inconsistency between the theoretically predicted negative relation between audit effort and misstatements (measured using restatements) and empirical findings. First, auditor risk adjustment behavior induces an upward bias in the association between audit effort and restatements. Second, the theoretical prediction applies only to audited financial reports (i.e., annual reports) and not to unaudited reports (i.e., interim quarterly report...
• The Future of IFRS AI翻译
  作者：Zeff, Stephen A.
• Accounting and Order AI翻译
  作者：Basu, Sudipta
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
• The Role of Analysts in Intra-Industry Information Transfer AI翻译
  作者：Hilary, Gilles; Shen, Rui
  作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
  摘要：When a firm issues a management forecast, analysts who have observed more forecasts from this firm since Covering it (i.e., have more MF-Experience) subsequently improve their own accuracy more and provide timelier earnings forecasts for other (non-issuing) firms in the same industry. We also find that, subsequent to a management forecast, investors are more responsive to forecast revisions for non-issuing firms made by analysts with more MF-Experience. Further tests suggest that our results a...
• The Commitment Effect versus Information Effect of Disclosure-Evidence from Smaller Reporting Companies AI翻译
  作者：Cheng, Lin; Liao, Scott; Zhang, Haiwen
  作者单位：University of Arizona; University of Toronto; University System of Ohio; Ohio State University
  摘要：We examine the commitment effect provided by mandatory disclosure and the information effect of voluntary disclosure on market illiquidity by exploring a regulatory change that allows smaller reporting companies to reduce the disclosure of certain information in their SEC filings. This regime change allows us to separate the commitment effect provided by mandatory disclosure from the information effect of voluntary disclosure. We find that firms that are eligible to reduce their disclosure, bu...
• Does Mandatory Adoption of International Financial Reporting Standards Decrease the Voting Premium for Dual-Class Shares? AI翻译
  作者：Hong, Hyun A.
  作者单位：University of Memphis
  摘要：I examine whether voting premiums are reduced following mandatory International Financial Reporting Standards (IFRS) adoption for firms that have a dual-class share structure. I find that mandatory adopters' voting premiums decrease, on average, by 8 percent subsequent to mandatory IFRS adoption. This effect is statistically significant relative to the corresponding effect for non-IFRS adopters. Further, I find that this effect is more pronounced in countries with strong legal enforcement and ...
• Accounting Standards, Cost of Capital, Resource Allocation, and Welfare in a Large Economy AI翻译
  作者：Zhang, Guochang
  作者单位：Hong Kong University of Science & Technology
  摘要：In an extended capital asset pricing model (CAPM) setting, I examine how the quality of accounting standards affects real investment and welfare through its impact on investment hurdle rates. In this model, cash flow uncertainty arises from two fundamental sources relating, respectively, to economic performance and accounting measurement errors, but they combine into a single market factor for asset pricing. Accounting standards matter to real investment not only because information quality af...
• Fair Value Accounting for Financial Instruments: Does It Improve the Association between Bank Leverage and Credit Risk? AI翻译
  作者：Blankespoor, Elizabeth; Linsmeier, Thomas J.; Petroni, Kathy R.; Shakespeare, Catherine
  作者单位：Stanford University; Michigan State University; University of Michigan System; University of Michigan
  摘要：Many have argued that financial statements created under an accounting model that measures financial instruments at fair value would not fairly represent a bank's business model. In this study we examine whether financial statements using fair values for financial instruments better describe banks' credit risk than less fair-value-based financial statements. Specifically, we assess the extent to which various leverage ratios, which are calculated using financial instruments measured along a fa...
• Productivity-Target Difficulty, Target-Based Pay, and Outside-the-Box Thinking AI翻译
  作者：Webb, R. Alan; Williamson, Michael G.; Zhang, Yue (May)
  作者单位：University of Waterloo; University of Texas System; University of Texas Austin; Northwestern University
  摘要：In an environment where individual productivity can be increased through efforts directed at a conventional task approach and more efficient task approaches that can be identified by thinking outside-the-box, we examine the effects of productivity-target difficulty and pay contingent on meeting and beating this target (i.e., target-based pay). We argue that while challenging targets and target-based pay can hinder the discovery of production efficiencies, they can motivate high productive effo...
• Evidence that Market Participants Assess Recognized and Disclosed Items Similarly when Reliability is Not an Issue AI翻译
  作者：Bratten, Brian; Choudhary, Preeti; Schipper, Katherine
  作者单位：University of Kentucky; Georgetown University; Duke University
  摘要：We provide evidence that disclosed items are not processed differently from recognized items when the disclosures are salient, not based on management estimates, and amenable to simple techniques for imputing as-if recognized amounts. For a sample of firms with both capital and operating leases, we find that as-if recognized amounts for leases are generally reliable and that both recognized lease obligations and disclosed lease obligations are associated with proxies for costs of debt and equi...