-
作者：Eames, MJ; Glover, SM
作者单位：Santa Clara University; Brigham Young University
摘要：Das et al. (1998) suggest that as earnings become less predictable, analysts issue increasingly optimistic forecasts to please managers and consequently gain, or at least limit the loss of, access to managers' private information. We reexamine the association between earnings forecast error and earnings predictability because there is evidence suggesting that deliberate earnings forecast optimism is not an effective mechanism for gaining access to managers' information (e.g., Eames et al. 2002...
-
作者：Carcello, JV; Neal, TL
作者单位：University of Tennessee System; University of Tennessee Knoxville; University of Kentucky
摘要：One important role of audit committees is to protect external auditors from dismissal following the issuance of an unfavorable report. We examine auditor dismissals following new going-concern reports that Big 6 firms issued between 1988 and 1999. Our findings suggest that audit committees with greater independence, greater governance expertise, and lower stockholdings are more effective in shielding auditors from dismissal after the issuance of new going-concern reports. In addition, we find ...
-
作者：Davis, JS; Hecht, G; Perkins, JD
作者单位：University of Wisconsin System; University of Wisconsin Madison; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We analyze the effect of social norms and enforcement on the dynamics of taxpayer compliance. Specifically, we develop two models to evaluate the movement between classes of compliant and noncompliant taxpayers. Our analysis suggests that the effect on compliance of changing enforcement levels depends on whether the taxpayer population is initially compliant or noncompliant. Compliant populations are insensitive to changes in enforcement policies until enforcement becomes sufficiently lax, whe...
-
作者：Swanson, EP; Rees, L
作者单位：Texas A&M University System; Texas A&M University College Station; Universidad Americas Puebla (UDLAP)
摘要：For a sample of companies traded on the Mexican Bolsa, fundamental analysis is used to investigate the value of financial statement information to investors after the December 1994 currency devaluation. Associations with contemporary returns show that earnings in the year of the devaluation lose value relevance, but fundamental signals, which incorporate the more detailed accounting information provided in financial statements, retain considerable explanatory power (13 2 is 25 percent). After ...
-
作者：Dutta, S
作者单位：University of California System; University of California Berkeley
摘要：This paper considers an agency model in which a firm's manager receives private information about an investment project. The manager has unique skills that are essential for implementing the project, and he can pursue the project inside the firm or as an outside venture on his own. The firm's owner thus faces a potential managerial retention problem, where the severity of the retention problem depends on the project's outside viability. My analysis shows that if the managerial retention proble...
-
作者：Bhattacharya, U; Daouk, H; Welker, M
作者单位：Indiana University System; Indiana University Bloomington; Cornell University; Queens University - Canada
摘要：We analyze financial statements from 34 countries for the period 19841998 to construct a panel data set measuring three dimensions of reported accounting earnings for each country: earnings aggressiveness, loss avoidance, and earnings smoothing. We hypothesize that these three dimensions are associated with uninformative or opaque earnings, and so we combine these three measures to obtain an overall earnings opacity time-series measure per country. We then explore whether our three measures of...
-
作者：Chung, HS; Kallapur, S
作者单位：Purdue University System; Purdue University; University of California System; University of California Irvine
摘要：The economic theory of auditor independence (DeAngelo 1981b) suggests that auditors' incentives to compromise their independence are related to client importance. Using ratios of client fees and of nonaudit fees divided by the audit firm's U.S. revenues or a surrogate for the audit-practice-office revenues as measures of client importance, we investigate their association with Jones-model abnormal accruals. In a sample of 1,871 clients of Big 5 audit firms we do not find a statistically signif...
