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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：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：Blouin, Jennifer; Hail, Luzi; Yetman, Michelle H.
作者单位：University of Pennsylvania; University of California System; University of California Davis
摘要：We examine how shareholder-level taxes affect the contemporaneous pricing of foreign firms' U.S. cross-listed and underlying home-country securities surrounding the 1997 reduction in U. S. capital gains tax rates. Consistent with tax capitalization, we find that the performance of cross-listed shares is negatively related to dividend yield, suggesting an abnormal price increase for shares with greater anticipated taxable capital gains. Due to barriers to cross-border arbitrage, underlying home...
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作者：Knechel, W. Robert; Rouse, Paul; Schelleman, Caren
作者单位：Maastricht University; University of Auckland
摘要：We develop a model of audit production based on Data Envelopment Analysis (DEA) using labor cost as input and hours spent on evidence-gathering activities that determine the level of assurance as output. Client characteristics are considered exogenous factors that affect audit production as a whole. We apply the model to a sample of U.S.-based engagements from an international accounting firm. Results indicate that a constrained DEA model using variable returns to scale is appropriate for mode...
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作者：Carcello, Joseph V.; Vanstraelen, Ann; Willenborg, Michael
作者单位：University of Tennessee System; University of Tennessee Knoxville; Maastricht University; University of Antwerp; University of Connecticut
摘要：We study going-concern (GC) reporting in Belgium to examine the effects associated with a shift toward rules-based audit standards. Beginning in 2000, a major revision in Belgian GC audit standards took effect. Among its changes, auditors must ascertain whether their clients are in compliance with two financial-juridical criteria'' for board of directors' GC disclosures. In a study of a sample of private Belgian companies, we report two major findings. First, there is a decrease in auditor Typ...
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作者：Clor-Proell, Shana M.
作者单位：University of Wisconsin System; University of Wisconsin Madison
摘要：This research investigates how financial statement users' judgments and decisions are affected by the extent to which a firm's actual accounting choices match users' expectations. Based on prior communications research, I predict and find that users' credibility judgments are more extreme when a firm's actual accounting choices do not match expectations. Experiment 1 supports this prediction in a stock-based compensation context, and Experiment 2 supports it in an accounting estimate context. ...
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作者：Kato, Kazuo; Skinner, Douglas J.; Kunimura, Michio
作者单位：University of Osaka; University of Chicago; Meijo University
摘要：We study management forecasts in Japan, where forecasts are effectively mandated but managers have considerable latitude over the numbers they release. We find that managers' initial earnings forecasts for a fiscal year are systematically upward-biased but that they revise their forecasts downward during the fiscal year so that most earnings surprises are non-negative. Managers' initial forecast optimism is inversely related to firm performance, and is more pronounced for firms with higher lev...
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作者：Kothari, S. P.; Li, Xu; Short, James E.
作者单位：Barclays; University of Texas System; University of Texas Dallas; University of California System; University of California San Diego
摘要：We document systematic evidence of risk effects of disclosures culled from a virtually exhaustive set of sources from the print medium. We content analyze more than 100,000 disclosure reports by management, analysts, and news reporters (i.e., business press) in constructing firm-specific disclosure measures that are quantitative and amenable to replication. We expect credibility and timeliness differences in the disclosures by source, which would translate into differential cost of capital eff...
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作者：Files, Rebecca; Swanson, Edward P.; Tse, Senyo
作者单位：University of Texas System; University of Texas Dallas; Texas A&M University System; Texas A&M University College Station
摘要：Managers exercise considerable discretion over how they announce an accounting restatement in a press release. Some firms issue a press release that discloses the restatement in the headline (high prominence). Others provide a press release with a headline on a different subject (for example, earnings news) but describe the restatement in the body of the release (medium prominence). The remaining firms discuss the restatement at the end of the press release in a footnote to operating results (...
