5期

最新文章

• Does Mandatory IFRS Adoption Improve Information Comparability? AI翻译
  作者：Yip, Rita W. Y.; Young, Danqing
  作者单位：Lingnan University; Chinese University of Hong Kong
  摘要：This study examines whether the mandatory adoption of International Financial Reporting Standards (IFRS) in the European Union significantly improves information comparability in 17 European countries. We employ three proxies the similarity of accounting functions that translate economic events into accounting data, the degree of information transfer, and the similarity of the information content of earnings and of the book value of equity-to measure information comparability. Our results sugg...
• Analyst Initiations of Coverage and Stock Return Synchronicity AI翻译
  作者：Crawford, Steven S.; Roulstone, Darren T.; So, Eric C.
  作者单位：Rice University; University System of Ohio; Ohio State University; Stanford University
  摘要：We examine how the information produced by analysts when they initiate coverage contributes to the mix of firm-specific, industry-, and market-wide information available about the firm. We hypothesize that the first analyst to initiate coverage provides low-cost market and industry information allowing him/her to follow more stocks, whereas subsequent analysts provide firm-specific information to distinguish themselves from existing analysts. We use stock return synchronicity to measure the mi...
• Do IRS Audits Deter Corporate Tax Avoidance? AI翻译
  作者：Hoopes, Jeffrey L.; Mescall, Devan; Pittman, Jeffrey A.
  作者单位：University of Michigan System; University of Michigan; University of Saskatchewan; Memorial University Newfoundland
  摘要：We extend research on the determinants of corporate tax avoidance to include the role of Internal Revenue Service (IRS) monitoring. Our evidence from large samples implies that U.S. public firms undertake less aggressive tax positions when tax enforcement is stricter. Reflecting its first-order economic impact on firms, our coefficient estimates imply that raising the probability of an IRS audit from 19 percent (the 25th percentile in our data) to 37 percent (the 75th percentile) increases the...
• The Effect of Hedge Fund Activism on Corporate Tax Avoidance AI翻译
  作者：Cheng, C. S. Agnes; Huang, Henry He; Li, Yinghua; Stanfield, Jason
  作者单位：Hong Kong Polytechnic University; Louisiana State University System; Louisiana State University; Texas A&M University System; Prairie View A&M University; University of Houston System; University of Houston; City University of New York (CUNY) System; Baruch College (CUNY); Purdue University System; Purdue University
  摘要：This paper examines the impact of hedge fund activism on corporate tax avoidance. We find that relative to matched control firms, businesses targeted by hedge fund activists exhibit lower tax avoidance levels prior to hedge fund intervention, but experience increases in tax avoidance after the intervention. Moreover, findings suggest that the increase in tax avoidance is greater when activists have a successful track record of implementing tax changes and possess tax interest or knowledge as i...
• Audit Quality and Auditor Reputation: Evidence from Japan AI翻译
  作者：Skinner, Douglas J.; Srinivasan, Suraj
  作者单位：University of Chicago; Harvard University
  摘要：We study events surrounding ChuoAoyama's failed audit of Kanebo, a large Japanese cosmetics company whose management engaged in a massive accounting fraud. ChuoAoyama was PwC's Japanese affiliate and one of Japan's largest audit firms. In May 2006, the Japanese Financial Services Agency (FSA) suspended ChuoAoyama for two months for its role in the Kanebo fraud. This unprecedented action followed a series of events that seriously damaged ChuoAoyama's reputation. We use these events to provide e...
• Economic Effects of Transparency in International Equity Markets: A Review and Suggestions for Future Research AI翻译
  作者：Daske, Holger
  作者单位：University of Mannheim
• Consecutive Earnings Surprises: Small and Large Trader Reactions AI翻译
  作者：Shanthikumar, Devin M.
  作者单位：University of California System; University of California Irvine
  摘要：Prior research demonstrates that investors respond differently to earnings surprises that are part of a string of consecutive earnings increases or surprises than to those that are not. To shed light on who values these patterns, I compare trading responses of small and large traders to earnings surprises that occur during a series of positive or negative surprises. I find that the relative intensity of small traders' trading response (and, to a lesser extent, that of medium traders) to earnin...
• Materiality Judgments and the Resolution of Detected Misstatements: The Role of Managers, Auditors, and Audit Committees AI翻译
  作者：Keune, Marsha B.; Johnstone, Karla M.
  作者单位：University of South Carolina System; University of South Carolina Columbia; University of Wisconsin System; University of Wisconsin Madison
  摘要：This study investigates how manager and auditor incentives, along with audit committee characteristics, are associated with materiality judgments about detected misstatements. Using data on detected misstatements that occurred between 2003 and 2006, we find auditors' incentives to protect their reputations weaken the effect of managerial incentives associated with the pressure created by analyst following; auditors are less likely to allow managers to waive material misstatements as audit fees...