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作者：Gupta, Mahendra; Pevzner, Mikhail; Seethamraju, Chandra
作者单位：Washington University (WUSTL); George Mason University
摘要：We examine how inventory overproduction among high-fixed-costs firms affects these firms' contemporaneous and future accounting performance and how financial analysts and the stock market incorporate implications of these relations in their reactions. We find that higher-fixed-costs firms engaging in opportunistic overproduction are able to increase their contemporaneous return on assets. Moreover, higher-fixed-costs firms that also experience inventory increases, sales declines, and issue com...
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作者：Kelly, Khim
作者单位：University of Waterloo
摘要：Many firms that use multiple lead measures in their performance measurement systems do not validate the causal model linking these measures to future financial outcomes, and the cause-and-effect relationships in the model are often left to subjective estimates that may be prone to errors. Using an experiment, this study examines how the accuracy of assumptions about the relative importance of lead measures in a causal model affects managerial performance and knowledge, when managers are given ...
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作者：Lasser, Dennis J.; Wang, Xue; Zhang, Yan
作者单位：State University of New York (SUNY) System; Binghamton University, SUNY; Loyola University New Orleans
摘要：This paper examines the effect of the inherent demand implied by short interest by studying how stock price reactions to earnings announcements depend on the level of short interest. We find that, for extreme good and bad news events, the inherent demand increases stock prices around the earnings announcement date, with the effect being stronger for good news relative to bad news. Specifically, the initial market reaction to an extreme positive earnings surprise is larger for firms with high l...
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作者：Rahaman, Abu; Neu, Dean; Everett, Jeff
作者单位：University of Calgary; York University - Canada
摘要：Social-purpose alliances are an increasingly important organizational form used by governments and supranational institutions to address large-scale social problems. Little is known, however, about how these alliances are organized and directed. This study investigates one such alliance, focusing on how accounting practices are being used to arrange, coordinate, and control a geographically dispersed and heterogeneous group of actors involved in the fight against HIV/AIDS in Ghana, Africa. It ...
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作者：Bandyopadhyay, Sati P.; Chen, Changling; Huang, Alan G.; Jha, Ranjini
作者单位：University of Waterloo
摘要：This research reports that an increasing level of accounting conservatism over the 19732005 period is associated with: (1) an increase in the ability of current earnings to predict future cash flows and (2) a decrease in the ability of current earnings to predict future earnings. We also find that usefulness of earnings for explaining stock prices over book values is positively related to reliability but not to relevance. Our results hold for the constant and full samples in both in-sample and...
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作者：Simpson, Ana
作者单位：University of London; London School Economics & Political Science
摘要：In this study I examine how analysts process nonfinancial information and how this is affected by the patterns of firms' non-financial information disclosures. More specifically, I examine the association between analyst earnings forecast errors and the persistence of nonfinancial disclosures, both across information content and over time. The study focuses on firms in the wireless industry for the period 1997-2007. The results show that analysts tend to underreact to the information contained...
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作者：Hodge, Frank D.; Rajgopal, Shiva; Shevlin, Terry
作者单位：University of Washington; University of Washington Seattle
摘要：We conduct a field survey to investigate whether current mid-level and future entry-level managers (collectively managers) subjectively value stock options and restricted stock consistent with economic theory. We find that managers, on average, subjectively value stock options at greater than their Black-Scholes value and greater than fair-value-equivalent restricted stock. This result contrasts with conventional economic wisdom that risk-averse employees discount the Black-Scholes value of an...
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作者：Bens, Daniel A.; Johnston, Rick
作者单位：University of Arizona; University System of Ohio; Ohio State University
摘要：This paper provides the first large sample empirical evidence on the extent to which restructuring charges are associated with earnings management. Furthermore, the study examines whether this association changed following action by the Financial Accounting Standards Board (FASB) and the Securities and Exchange Commission (SEC) to curtail suspected restructuring-related earnings management. We examine restructuring charges recorded between 1989 and 1992, a period when restructurings were virtu...
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作者：Goh, Beng Wee
作者单位：Singapore Management University
摘要：This study examines whether the effectiveness of the audit committee and the board of directors is associated with firms' timeliness in the remediation of material weaknesses (MWs) in internal control. The sample comprises accelerated filers that disclosed at least one MW from July 2003 to December 2004 under section 302 of the Sarbanes-Oxley Act (SOX). Using logistic regression analyses, I find that firms with larger audit committees, audit committees with greater nonaccounting financial expe...
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作者：Gendron, Yves
作者单位：Laval University
