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作者：[Anonymous]
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作者：Xie, H
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：This paper examines the market pricing of Jones (1991) model-estimated abnormal accruals (often termed discretionary accruals in the prior literature) to test whether stock prices rationally reflect the one-year-ahead earnings implications of these accruals. Using the Mishkin (1983) and hedge-portfolio test methods Sloan (1996) employs, I find that the market overestimates the persistence, or one-year-ahead earnings implications, of abnormal accruals, and consequently overprices these accruals...
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作者：Huson, MR; Scott, TW; Wier, HA
作者单位：University of Alberta
摘要：Executive stock options and convertible securities can increase the number of common shares outstanding while adding less than the market value of the newly issued securities to a firm's assets. We model the effect of expected dilution on the earnings/return relation. Expected dilution effectively reduces the permanence of an earnings innovation. Empirical evidence supports the hypothesis that dilutive securities attenuate the relation between earnings and returns. Estimated earnings response ...
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作者：Kinney, WR Jr
作者单位：University of Texas System; University of Texas Austin
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作者：Barton, J
作者单位：Emory University
摘要：I present evidence consistent with managers using derivatives and discretionary accruals as partial substitutes for smoothing earnings. Using 1994-1996 data for a sample of Fortune 500 firms, I estimate a set of simultaneous equations that captures managers' incentives to maintain a desired level of earnings volatility through hedging and accrual management. These incentives include increasing managerial compensation and wealth, reducing corporate income taxes and debt financing costs, avoidin...
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作者：Heninger, WG
作者单位：State University of New York (SUNY) System; University at Buffalo, SUNY
摘要：Concern that earnings management erodes the quality of financial reporting has prompted the Securities and Exchange Commission to question the role of the external auditor. To help address that concern, this study examines the relation between earnings management and auditor litigation. While prior research on the relation between auditor litigation and total accruals has yielded inconclusive results, I find that the risk of auditor litigation is positively associated with a sharper measure of...
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作者：Luft, JL; Shields, MD
作者单位：Michigan State University
摘要：This study shows experimentally that when individuals use information on intangibles expenditures to predict future profits, expensing (vs. capitalizing) the expenditures significantly reduces the accuracy, consistency, consensus, and self-insight of individuals' subjective profit predictions. The experimental design allows us to eliminate several competing explanations for this apparent fixation on accounting. Subjects do not base their judgments on a naive prior belief that expensing preclud...
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作者：Hyatt, TA; Prawitt, DF
作者单位：Seattle University; Brigham Young University
摘要：This study examines how auditors' job performance is affected by the interaction between individual auditors' locus of control and the extent to which the employing audit firm uses a structured audit technology. We distributed an instrument that measures locus of control (internal vs. external) and other key constructs to staff- and senior-level auditors from the two most structured and the two least structured (then) Big 6 accounting firms. Results indicate that supervisor-assessed job perfor...
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作者：Nagar, V; Rajan, MV
作者单位：University of Michigan System; University of Michigan; Stanford University
摘要：We examine the future sales implications of product quality measures for 11 plants of a manufacturing group In a Fortune 500 firm. Our results indicate that both financial quality measures, such as external failure costs incurred due to product failures at customer sites, and nonfinancial quality measures, such as defect rates and on-time deliveries, are leading indicators of future sales. While changes in defects and on-time deliveries affect sales in the subsequent quarter, changes in extern...
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作者：Joshi, S; Krishnan, R; Lave, L
作者单位：Michigan State University; Carnegie Mellon University
摘要：This paper examines the extent to which accounting systems separately identify all the costs of environmental regulation. We estimate the relation between the visible costs of regulatory compliance (costs that firms' accounting systems correctly classify as environmental) and hidden environmental costs embedded in other accounts. We use plant-level data from 55 steel mills to estimate hidden costs, and we follow up with structured interviews of corporate-level managers and plant-level accounta...
