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作者：Elliott, W. Brooke; Hodge, Frank D.; Kennedy, Jane Jollineau; Pronk, Maarten
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Washington; University of Washington Seattle; Tilburg University
摘要：We investigate a key assumption underlying much of the experimental research in financial accounting that graduate business students are a good proxy for nonprofessional investors. To conduct our investigation, we categorize recent experimental studies in financial accounting, based on the relative level of integrative complexity inherent in each study's task. We then conduct experiments using two tasks, one that is relatively low in integrative complexity and one that is relatively high in in...
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作者：Pincus, Morton; Rajgopal, Shivaram; Venkatachalam, Mohan
作者单位：University of California System; University of California Irvine; University of Washington; University of Washington Seattle; Duke University
摘要：We consider stock markets in 20 countries to investigate whether the accrual anomaly (Sloan 1996), characterized by U.S. stock prices overweighting the role of accrual persistence, is a local manifestation of a global phenomenon. We explore whether the occurrence of the anomaly is related to country differences in accounting and institutional structures, and examine alternative explanations for its occurrence. We find stock prices overweight accruals in general, with accruals overweighting occ...
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作者：Hann, Rebecca N.; Lu, Yvonne Y.; Subramanyam, K. R.
作者单位：University of Southern California
摘要：We functionally derive the discretionary component of the pension obligation (PBO) based on deviation of actuarial assumptions-discount rate and compensation growth rate-from their respective industry medians. We then examine the implications of allowing discretion in the choice of pension assumptions on the pricing of the PBO. We find no evidence that discretion-as currently allowed under U.S. GAAP-impairs the value relevance of the PBO. We also find that the discretionary component is increm...
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作者：Givoly, Dan; Hayn, Carla K.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of California System; University of California Los Angeles; California State University System; California State Polytechnic University Pomona
摘要：The paper examines the power and reliability of the differential timeliness (DT) measure developed by Basu (1997) to gauge reporting conservatism. We identify certain characteristics of the information environment unrelated to conservatism that affect the DT measure and find that it is sensitive to the degree of uniformity in the content of the news during the examined period, the types of events occurring in the period, and firms' disclosure policies. Our tests, based on both actual and simul...
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作者：Sandino, Tatiana
作者单位：University of Southern California
摘要：Focusing on a sample of U.S. retailers, I study the management control systems (MCS) that firms introduce when they first invest in controls, and identify four categories of initial MCS, which are defined in terms of the purposes these MCS fulfill. The first category, Basic MCS, is adopted to collect information for planning, setting standards, and establishing the basic operations of the firm. The other three categories are contingent on more specific purposes: Cost MCS focus on enhancing ope...
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作者：Fan, Qintao
作者单位：University of California System; University of California Berkeley
摘要：This paper investigates, both theoretically and empirically, how earnings management and ownership retention interact, and how these two jointly affect the equilibrium market valuation of IPO firms in the presence of information asymmetry. Analytically, this paper extends the univariate signaling framework of Leland and Pyle (1977) and derives an efficient signaling equilibrium in which both reported earnings and ownership retention are endogenously chosen to convey the IPO issuer's private in...
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作者：Sanchez, Maria H.; Agoglia, Christopher R.; Hatfield, Richard C.
作者单位：Rider University; University of Alabama System; University of Alabama Tuscaloosa
摘要：Auditors face the challenging tasks of attesting that the financial statements are free from material misstatement while simultaneously fostering a functional working relationship with the client. As the financial statements may be considered, in part, a product of negotiations between the auditor and client management (Antle and Nalebuff 1991), the negotiation strategy employed by the auditor may be useful in effectively fulfilling both tasks. To investigate the effect of auditor strategy on ...
