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作者：Kinney, MR; Wempe, WF
作者单位：Texas A&M University System; Texas A&M University College Station; Texas Christian University
摘要：Empirical research provides scant evidence that just-in-time (JIT) adopters outperform their non-adopting industry peers. Using a sample of 201 JIT adopters and matched non-adopters, we examine the relation between financial performance and JIT Our sample-wide results indicate that JIT adopters improve financial performance relative to non-adopters, and that profit margin, rather than asset turnover, is the primary source of such improvement. However, results of additional analyses suggest tha...
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作者：Land, J; Lang, MH
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：We examine whether cross-country differences in earnings-to-price multiples have changed between 1987-1992 and 1994-1999. Our results suggest that earnings multiples became more similar over this time period for the jurisdictions we analyze, although systematic differences remain. Economic determinants of earnings multiples (e.g., growth rates, interest rates, and returns) do not exhibit similar convergence and do not appear to explain the changes. The convergence is robust to controls for cas...
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作者：Nagar, V
作者单位：University of Michigan System; University of Michigan
摘要：Top management faces two key organizational design choices: (1) how much authority to delegate to lower-level managers, and (2) how to design incentive compensation to ensure that these managers do not misuse their discretion. Theoretical accounting literature emphasizes that top management makes these two choices jointly, but there is little empirical evidence on this assertion. Capitalizing on a unique database of branch manager practices in retail banks, this study provides some of the firs...
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作者：Gleason, CA; Mills, LF
作者单位：University of Arizona
摘要：We investigate factors that explain firms' decisions to disclose and record contingent tax liabilities. Our findings are based on confidential Internal Revenue Service audit data and financial statement footnotes for 100 large industrial firms from 1987 to 1995. Descriptive statistics indicate that these firms often fail to disclose IRS claims for tax deficiencies that exceed a 5-percent-of-income rule of thumb. We find that the probability of disclosure increases in the relative amount of the...
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作者：Klein, A
作者单位：New York University
摘要：This paper provides empirical evidence that audit committee independence is associated with economic factors. I find that audit committee independence increases with board size and board independence and decreases with the firm's growth opportunities and for firms that report consecutive losses. In contrast, no relation is found between audit committee independence and creditors' demand for accounting information. Although the analyses are based on data from 1991 to 1993, these results have im...
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作者：Penman, SH; Zhang, XJ
作者单位：Columbia University; University of California System; University of California Berkeley
摘要：When a firm practices conservative accounting, changes in the amount of its investments can affect the quality of its earnings. Growth in investment reduces reported earnings and creates reserves. Reducing investment releases those reserves, increasing earnings. If the change in investment is temporary, then current earnings is temporarily depressed or inflated, and thus is not a good indicator of future earnings. This study develops diagnostic measures of this joint effect of investment and c...
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作者：Bell, TB; Landsman, WR; Miller, BL; Yeh, S
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of California System; University of California Los Angeles; National Taiwan University
摘要：We use the Ohlson (1995, 1999) and Feltham and Ohlson (1999) valuation models to investigate the market's perception of the economic effect of employee stock options (ESOs) on firm value for a sample of 85 profitable computer software companies. Our results suggest that the market appears to value these firms' ESO expense not as an expense but as an intangible asset (even after controlling for the endogeneity bias arising from the mechanical relation between ESOs and the underlying stock price...
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作者：Nelson, MW; Elliott, JA; Tarpley, RL
作者单位：Cornell University; George Washington University
摘要：This paper reports analyses of data obtained using a field-based questionnaire in which 253 auditors from one Big 5 firm recalled and described 515 specific experiences they had with clients who they believe were attempting to manage earnings. This approach enables us to analyze separately managers' decisions about how to attempt earnings management and auditors' decisions about whether to prevent earnings management by requiring adjustment of the financial statements. Our results indicate tha...
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作者：Duru, A; Reeb, DM
作者单位：American University
摘要：We investigate the association between corporate international diversification and the accuracy and bias of consensus analysts' earnings forecasts. We find that greater corporate international diversification is associated with less accurate and more optimistic forecasts. Our results suggest that international diversification reflects unique dimensions of forecasting difficulty that are not captured in previously identified determinants. This evidence suggests that as firms become more geograp...
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作者：McNichols, MF
作者单位：Stanford University
摘要：Dechow and Dichev (2002) model earnings quality as the magnitude of estimation errors in accruals, and provide empirical estimates of this construct based on the relation between accruals and cash flows. I characterize the innovation and limitations in this approach, and provide empirical evidence of measurement error in their empirical specification. I also adapt their model to assess the specification of the Jones' (1991) model and document that this model provides estimates of discretionary...
