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作者：Cassell, Cory A.; Dreher, Lauren M.; Myers, Linda A.
作者单位：University of Arkansas System; University of Arkansas Fayetteville
摘要：Securities and Exchange Commission( SEC) comment letters provide independent and timely feedback on the clarity of disclosures and on the extent to which filings comply with Generally Accepted Accounting Principles and SEC reporting regulations. We investigate factors that affect the probability of receiving a 10-K comment letter, the extent of comments received, and the cost of remediation. We find that in addition to factors explicitly stated to increase SEC scrutiny in Section 408 of the Sa...
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作者：Lee, Sam (Sunghan); Pandit, Shailendra; Willis, Richard H.
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Vanderbilt University
摘要：We study the joint effects of intercompany investing and reporting of equity method investments on the accuracy and dispersion of analysts' annual earnings-per-share (EPS) forecasts. We compare firm-year observations with and without equity method investments. We posit two non-mutually exclusive explanations for how equity method investments may affect analyst forecast properties. The Opacity Effect posits that the condensed equity method disclosures increase information asymmetry, increasing ...
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作者：Wouters, Marc
作者单位：Helmholtz Association; Karlsruhe Institute of Technology
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作者：Chen, Feng; Li, Yue
作者单位：University of Toronto
摘要：This study exploits an exogenous change to audit committee policy in Canada and presents new evidence on how high-quality corporate governance mitigates managerial resource diversion and improves firm values. We first examine why some firms listed on the Toronto Venture Exchange (TSX Venture) voluntarily adopted the more stringent governance policy in 2004 that requires all audit committee members to be independent and financially literate. We develop a parsimonious analytical model that shows...
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作者：Cassell, Cory A.; Huang, Shawn X.; Sanchez, Juan Manuel
作者单位：University of Arkansas System; University of Arkansas Fayetteville; Arizona State University; Arizona State University-Tempe; Texas Tech University System; Texas Tech University
摘要：We investigate whether retiring CEOs engage in opportunistic terminal-year forecasting behavior and the circumstances in which such behavior is likely to be more or less pronounced. Using a within-CEO empirical design, we find that retiring CEOs are more likely to issue forecasts of future earnings, and that they issue such forecasts more frequently in their terminal year relative to other years during their tenure with the firm. Further, retiring CEOs' terminal-year forecasts of future earnin...
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作者：Schreuder, Hein
作者单位：Vlerick Business School
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作者：Evans, John Harry, III
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
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作者：De Simone, Lisa; Sansing, Richard C.; Seidman, Jeri K.
作者单位：Stanford University; Tilburg University; Tilburg University; University of Texas System; University of Texas Austin
摘要：This study investigates the circumstances under which enhanced relationship tax-compliance programs are mutually beneficial to taxpayers and tax authorities, as well as how these benefits are shared. We develop a model of taxpayer and tax authority behavior inside and outside of an enhanced relationship program. Our model suggests that, despite the adversarial nature of the relationship, an enhanced relationship program is mutually beneficial in many settings. The benefits are due to lower com...
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作者：Kadous, Kathryn; Leiby, Justin; Peecher, Mark E.
作者单位：Emory University; State University System of Florida; University of Florida; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Auditors frequently seek informal advice from peers to improve judgment quality, but the conditions under which advice improves auditor judgment are poorly understood. We predict and find evidence of a trust heuristic among auditors receiving advice from advisors with whom they share a social bond. This heuristic is evident among non-specialists, who weight advice according to its justifiability when it is received from a weaker social bond advisor, but fail to objectively assess the quality o...
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作者：Gul, Ferdinand A.; Wu, Donghui; Yang, Zhifeng
作者单位：Monash University; Chinese University of Hong Kong; City University of Hong Kong
摘要：We examine whether and how individual auditors affect audit outcomes using a large set of archival Chinese data. We analyze approximately 800 individual auditors and find that they exhibit significant variation in audit quality. The effects that individual auditors have on audit quality are both economically and statistically significant, and are pronounced in both large and small audit firms. We also find that the individual auditor effects on audit quality can be partially explained by audit...
