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作者：Dutta, Sunil; Fan, Qintao
作者单位：University of California System; University of California Berkeley
摘要：We examine the optimal choice of hurdle rates in a capital budgeting setting in which a manager receives superior information regarding the profitability of an investment project. Unlike the prior capital budgeting literature that treats the distribution of investment returns as exogenous, we consider a scenario in which the manager can engage in upfront project development activities to improve the quality of investment opportunity. To motivate the project development effort while ensuring tr...
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作者：Hoffman, Vicky B.; Zimbelman, Mark F.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Brigham Young University
摘要：The Public Company Accounting Oversight Board recently reported that its inspections show that auditors fail to effectively modify their standard audit procedures in response to fraud risk. Prior academic research is consistent with this finding. Our study examines the effects of two interventions on auditors' planning decisions in a high-fraud-risk setting: strategic reasoning and brainstorming in groups. Both interventions are predicted to lead auditors to more effectively modify their plann...
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作者：Choi, Jong-Hag; Kim, Jeong-Bon; Liu, Xiaohong; Simunic, Dan A.
作者单位：Seoul National University (SNU); Concordia University - Canada; City University of Hong Kong; University of Hong Kong; University of British Columbia
摘要：We study the effects of cross-listings on audit fees. We first develop a model in which legal environments play a crucial role in determining the auditor's legal liability. Our model and analysis predict that auditors charge higher fees for firms that are cross-listed in countries with stronger legal regimes than they do for non-cross-listed firms and that the cross-listing audit fee premium increases with the difference in the strength of legal regimes between the cross-listed foreign country...
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作者：Barniv, Ran; Hope, Ole-Kristian; Myring, Mark J.; Thomas, Wayne B.
作者单位：University System of Ohio; Kent State University; Kent State University Kent; Kent State University Salem; University of Toronto; Ball State University; University of Oklahoma System; University of Oklahoma - Norman
摘要：From 1994 to 1998, Bradshaw (2004) finds that analysts' stock recommendations relate negatively to residual income valuation estimates (scaled by current price) but positively to valuation heuristics based on the price-to-earnings-to-growth ratio and long-term growth. These results are surprising, especially considering that future returns relate positively to residual income valuation estimates and negatively to heuristics. Using a large sample of analysts for the 1993-2005 period, we conside...
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作者：Magilke, Matthew J.; Mayhew, Brian W.; Pike, Joel E.
作者单位：Utah System of Higher Education; University of Utah; University of Wisconsin System; University of Wisconsin Madison; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We use experimental markets to examine stock-based compensation's impact on the objectivity of participants serving as audit committee members. We compare audit committee member reporting objectivity under three regimes: no stockbased compensation, stock-based compensation linked to current shareholders, and stock-based compensation linked to future shareholders. Our experiments show that student participants serving as audit committee members prefer biased reporting when compensated with stoc...
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作者：Acito, Andrew A.; Burks, Jeffrey J.; Johnson, W. Bruce
作者单位：University of Iowa; University of Notre Dame
摘要：We test conjectures about the determinants of materiality judgments by examining a financial reporting choice made by firms that discover errors in prior years' financial statements. From late 2004 to mid-2006, more than 250 U.S. firms uncovered and corrected operating lease accounting errors either by formal restatement-required for errors deemed material-or by a less visible current-period catch-up adjustment. We test the role of materiality considerations outlined in SAB No. 99 as well as f...
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作者：Kalyta, Paul
作者单位：McGill University
摘要：Empirical research on the impact of managerial retirement on discretionary accounting choices is inconclusive, with most studies finding no evidence of earnings management in the pre-retirement period. I argue that income-increasing accounting choices in final pre-retirement years are particularly appealing to managers whose pension depends on firm performance in these years. Using primary data on retired CEOs of Fortune 1000 firms, I investigate the impact of CEO pension plans on discretionar...
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作者：Chen, Clara Xiaoling
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：This study examines the revenue implications of satisfaction measures in a setting with multiple stakeholders. I obtain a proprietary database from a leading health insurance company that measures satisfaction levels of multiple stakeholders, including: (1) clients that purchase insurance plans for their employees, (2) patients who use the insurance plans, and (3) doctors who provide medical services. Using multi-stakeholder satisfaction data over a 20-quarter period, I find that satisfaction ...
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作者：Nekrasov, Alexander; Shroff, Pervin K.
作者单位：University of California System; University of California Irvine; University of Minnesota System; University of Minnesota Twin Cities
摘要：We propose a methodology to incorporate risk measures based on economic fundamentals directly into the valuation model. Fundamentals-based risk adjustment in the residual income valuation model is captured by the covariance of ROE with market-wide factors. We demonstrate a method of estimating covariance risk out of sample based on the accounting beta and betas of size and book-to-market factors in earnings. We show how the covariance risk estimate can be transformed to obtain the fundamentals...
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作者：Waymire, Gregory B.
作者单位：Emory University
