4期

最新文章

• Do Analysts Practice What They Preach and Should Investors Listen? Effects of Recent Regulations AI翻译
  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...
• Balancing the Dual Responsibilities of Business Unit Controllers: Field and Survey Evidence AI翻译
  作者：Maas, Victor S.; Matejka, Michal
  作者单位：University of Amsterdam; University of Michigan System; University of Michigan
  摘要：We examine how business unit (BU) controllers balance their dual roles of providing information for both local decision-making (local responsibility) and corporate control (functional responsibility). The existing literature suggests that organizations can improve the quality of financial reporting and internal controls by increasing the emphasis on the functional responsibility of BU controllers. In this study, we rely on prior literature and insights from field interviews to argue that such ...
• The Effect of Auditor Quality on Financing Decisions AI翻译
  作者：Chang, Xin; Dasgupta, Sudipto; Hilary, Gilles
  作者单位：Nanyang Technological University; Hong Kong University of Science & Technology; Hautes Etudes Commerciales (HEC) Paris
  摘要：We present a model and provide empirical evidence showing that auditor quality affects the financing decisions of companies, and that higher audit quality reduces the impact of market conditions on client financial decisions and capital structure. Consistent with our analytical predictions, we find that companies audited by Big 6 firms are more likely to issue equity as opposed to debt than are those audited by small audit firms. We also find that companies audited by Big 6 auditors are able t...
• Promotions, Turnover, and Performance Evaluation: Evidence from the Careers of Division Managers AI翻译
  作者：Cichello, Michael S.; Fee, C. Edward; Hadlock, Charles J.; Sonti, Ramana
  作者单位：University of Pennsylvania; Michigan State University; Indian School of Business (ISB)
  摘要：We study turnover and promotions of division managers in multidivisional firms. Turnover is negatively related to divisional accounting performance, positively related to industry performance, but not significantly related to firm performance or the performance of other divisions. Consistent with tournament theory, promotions are significantly related to whether one division is performing better than others, but are not significantly related to the magnitude of any performance difference. A si...
• Corporate Governance Around the World AI翻译
  作者：Demirag, Istemi S.
  作者单位：Queens University Belfast
• Analyst Information Processing, Financial Regulation, and Academic Research AI翻译
  作者：Bradshaw, Mark T.
  作者单位：University of Chicago
  摘要：Changes in regulations governing capital markets always provide a rich setting for archival researchers to examine how such changes affect the behavior of market participants. Barniv et al. (2009; hereafter, BHMT) and Chen and Chen (2009; hereafter CC) examine the impacts of recently enacted regulations aimed at curbing perceived abused by sell-side analysts. There were no less than six significant regulations issued between 2000 and 2003 that affected the activities of analysts. BHMT and CC e...
• The Voluntary Adoption of Internationally Recognized Accounting Standards and Firm Internal Performance Evaluation AI翻译
  作者：Wu, Joanna Shuang; Zhang, Ivy Xiying
  作者单位：University of Rochester; University of Minnesota System; University of Minnesota Twin Cities
  摘要：A large body of research is devoted to understanding the causes and consequences of firms' adoption of internationally recognized accounting standards. Thus far, researchers' attention has focused almost exclusively on the informational benefits of the adoption. We extend the existing literature by offering a different, stewardship perspective. We hypothesize that the voluntary adoption of international accounting standards is associated with changes in the firm's internal performance evaluati...
• Internal Audit Quality and Earnings Management AI翻译
  作者：Prawitt, Douglas F.; Smith, Jason L.; Wood, David A.
  作者单位：Brigham Young University; Nevada System of Higher Education (NSHE); University of Nevada Las Vegas
  摘要：Internal auditors perform work that is relevant to their host entities' financial reporting processes; yet, little research attention has focused on the effects of internal auditing on companies' external financial reporting. Using a unique and previously unavailable data set, we investigate the relation between internal audit function (IAF) quality and earnings management. We measure IAF quality using a composite measure comprising six individual components of IAF quality based on SAS No. 65,...