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作者：Ryan, SG; Tucker, JW; Zarowin, PA
作者单位：New York University; State University System of Florida; University of Florida
摘要：Despite the classification of the cash flows on trading positions as operating under SFAS No. 102, trading is economically a hybrid operating/non-operating activity. Reflecting this hybrid nature, we hypothesize and find that the change in net trading assets has a less positive association with returns and future CFO than do the pure operating components of cash flows and accruals, and it has a more positive association with returns and future CFO than do the pure non-operating components of c...
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作者：Krishnan, R; Yetman, MH; Yetman, RJ
作者单位：Michigan State University; University of California System; University of California Davis
摘要：We examine whether nonprofit organizations understate fundraising expenses in their publicly available financial statements. A large body of anecdotal evidence notes that an inexplicable number of nonprofits report zero fundraising expenses. We provide empirical evidence that the zero fundraising expense phenomenon is at least partly due to inappropriate reporting. We then examine to what extent these misreported expenses are the result of managerial incentives. Prior research finds an associa...
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作者：Kadous, K; Krische, SD; Sedor, LM
作者单位：Emory University; University of Illinois System; University of Illinois Urbana-Champaign; University of Notre Dame
摘要：Prior research demonstrates that forecast optimism is, in part, a consequence of analysts' cognitive reactions to the scenarios managers use to communicate future plans. In two experiments, we examine whether counter-explanation (explaining why managers' plans could fail) reduces scenario-induced optimism. We find that when compared to analysts not asked to generate counter-explanations, analysts who complete the relatively easy task of generating few counter-explanations make less optimistic ...
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作者：Banker, RD; Chen, L
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; University System of Georgia; Georgia State University
摘要：We evaluate the descriptive validity of the cost behavior model for profit analysis using Compustat data. For this purpose, we propose an earnings forecast model decomposing earnings into components that reflect (1) variability of costs with sales revenue and (2) stickiness in costs with sales declines. We evaluate the predictive ability of our model by benchmarking its performance in forecasting one-year-ahead returns on equity against that of two other time-series models based on line item i...
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作者：Liu, CC; Ryan, SG
作者单位：National Taiwan University; New York University
摘要：Prior research shows that during the pre-1990 bust financially weak banks managed income upward by delaying provisions for losses on heterogeneous loans. In contrast, we predict and find that during the 1990s boom profitable banks managed income downward by accelerating provisions for losses on homogeneous loans. Profitable banks obscured their income smoothing by accelerating charge-offs of homogeneous loans and by recording more gross charge-offs to offset recoveries of previously charged-of...
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作者：Hodder, LD; Hopkins, PE; Wahlen, JM
作者单位：Indiana University System; Indiana University Bloomington
摘要：We investigate the risk relevance of the standard deviation of three performance measures: net income, comprehensive income, and a constructed measure of full-fair-value income for a sample of 202 U.S. commercial banks from 1996 to 2004. We find that, for the average sample bank, the volatility of full-fair-value income is more than three times that of comprehensive income and more than five times that of net income. We find that the incremental volatility in full-fair-value income (beyond the...
