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作者：Chang, HH; Chen, JF; Liao, WM; Mishra, BK
作者单位：University of California System; University of California Riverside
摘要：We examine the impact on share prices of firms whose CEOs and CFOs certify their financial statements under oath, pursuant to the administrative order issued by the SEC on June 27, 2002. We hypothesize that (1) the certification provides assurance to investors by making disclosure more credible and by reducing information asymmetry between owners and management, and (2) the assurance value of certification is reflected in the stock price of the certifying company. Overall, the empirical result...
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作者：Jones, CL; Roberts, AA
作者单位：George Washington University; Boston College
摘要：Charities that use direct mailings or other activities that combine a public education effort with fundraising appeals must allocate the joint costs related to these activities to programs, fundraising, and administration. This study investigates whether charities use joint-cost allocations to manage the program ratio-a widely used measure of spending efficiency. Using a hand-collected dataset of 708 organ ization-year observations from 1992 to 2000, we find evidence that charities use joint c...
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作者：Cahan, SF; Zhang, W
作者单位：University of Auckland; Clarkson University
摘要：This study examines whether after Arthur Andersen's demise, successor auditors required more conservative accounting for their ex-Andersen clients in order to minimize litigation risk. We use unadjusted and performance-adjusted measures of abnormal accruals, and we examine the level of and changes in the abnormal accruals of ex-Andersen clients in 2002 relative to a control sample of clients that were audited by a Big 4 auditor in 2001 and 2002. We conduct univariate and multivariate tests. In...
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作者：Elliott, WB
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：This study presents the results of an experiment that examines how two underlying characteristics of pro forma earnings announcements, pro forma emphasis and the presence of a quantitative reconciliation, influence nonprofessional investors' and analysts' reliance on pro forma disclosures. The results indicate that the emphasis management places on pro forma earnings, not the mere presence of pro forma earnings, influences nonprofessional investors' judgments and decisions, but that this influ...
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作者：Hunton, JE; Libby, R; Mazza, CL
作者单位：Bentley University; Cornell University; Fordham University
摘要：Prior research indicates that greater transparency in reporting formats facilitates the detection of earnings management. The current study hypothesizes and demonstrates that greater transparency in comprehensive income reporting also reduces the likelihood that managers will engage in earnings management in the area of increased transparency. In our experiment, 62 financial executives and chief executive officers decide which available-for-sale security to sell from a portfolio. We manipulate...
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作者：Desai, H; Hogan, CE; Wilkins, MS
作者单位：Southern Methodist University; Texas A&M University System; Texas A&M University College Station
摘要：In this paper we investigate the reputational penalties to managers of firms announcing earnings restatements. More specifically, we examine management turnover and the subsequent employment of displaced managers at firms announcing earnings restatements during 1997 or 1998. In contrast to prior research (Beneish 1999; Agrawal et al. 1999), which does not find increased turnover following GAAP violations or revelation of corporate fraud, we find that 60 percent of restating firms experience a ...
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作者：Libby, R; Tan, HT; Hunton, JE
作者单位：Cornell University; Nanyang Technological University; Bentley University; Maastricht University
摘要：This study examines how the form of management's earnings guidance (point, narrow range, wide range) affects analysts' earnings forecasts. Results from two experiments demonstrate that: (1) guidance form has no effect on analysts' forecasts made immediately after the guidance; and (2) after the actual earnings announcement, guidance form and the relationship of the earnings guidance to actual earnings (guidance error) interact in their effect on analysts' forecasts. After the actual earnings a...
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作者：Tucker, JW; Zarowin, PA
作者单位：State University System of Florida; University of Florida; New York University
摘要：This paper uses a new approach to examine whether income smoothing garbles earnings information or improves the informativeness of past and current earnings about future earnings and cash flows. We measure income smoothing by the negative correlation of a firm's change in discretionary accruals with its change in premanaged earnings. Using the approach of Collins et al. (1994), we find that the change in the current stock price of higher-smoothing firms contains more information about their fu...
