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作者：Beasley, Mark S.; Carcello, Joseph V.; Hermanson, Dana R.; Neal, Terry L.
作者单位：North Carolina State University; University of Tennessee System; University of Tennessee Knoxville; University System of Georgia; Kennesaw State University
摘要：Relatively few studies have examined the audit committee oversight process - the activities that link audit committee inputs and financial reporting outcomes. To study this process, we conducted extensive interviews with 42 U.S. public company audit committee members. We explore six audit committee process areas, offer insights into the state of audit committee processes in the post-Sarbanes-Oxley Act (SOX) environment, and consider our results in light of agency theory and institutional theor...
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作者：Ohlson, James A.; Aier, Jagadison K.
作者单位：New York University; George Mason University
摘要：This paper revisits the whys and hows of cash flows analysis. In a context of equity valuation, we consider three aspects. First, we consider why there is demand for an analysis of cash flows that complements generally accepted accounting principles' (GAAP's) income statement. The issues here pertain to the ambiguity inherent in accruals, primarily due to current and past nonrecurring items, and how one assesses the quality of earnings. Second, we suggest how an analysis of cash flows should b...
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作者：Demski, Joel S.; Lin, Haijin; Sappington, David E. M.
作者单位：State University System of Florida; University of Florida; University of Houston System; University of Houston
摘要：Generally accepted accounting principles (GAAP) mandate a variety of departures from historical cost valuation. We consider a simple model that produces corresponding variety, depending on prevailing regulatory objectives and economic conditions. The model entails entrepreneurial investment in an asset followed by private information about asset value that cannot be communicated. A lemons problem arises in the asset resale market, creating a role for mandated disclosure in the form of audited ...
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作者：Das, Somnath; Shroff, Pervin K.; Zhang, Haiwen
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of Minnesota System; University of Minnesota Twin Cities; University System of Ohio; Ohio State University
摘要：This paper investigates whether the pattern of quarterly earnings changes can provide an indication of earnings management. We identify firms for which the sign of (seasonal) earnings changes observed in interim quarters reverses in the fourth quarter. We hypothesize that a firm performing poorly in interim quarters may attempt to increase earnings of the fourth quarter to achieve a desired annual earnings target, while a firm performing well in interim quarters may attempt to decrease earning...
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作者：Li, Chan
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：This paper investigates whether client importance affects auditor independence within the local offices of audit firms. Client importance is measured as the proportion of audit fees, nonaudit service fees, or total fees that a distressed, public client contributes to the total public client revenue earned by the individual audit offices. Auditor independence is measured as the auditor's propensity to issue a going-concern opinion. The paper focuses on changes in the relation between fee ratios...
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作者：Copley, Paul A.; Douthett, Edward B., Jr.
作者单位：James Madison University; George Mason University
摘要：The initial public offering (IPO) market is characterized by large, periodic swings in new issue volume, commonly referred to as hot and cold markets. We compare IPO assurance fees over these cycles controlling for factors that are potentially associated with hot IPO markets. We find that average assurance fees are lower during hot market periods and that fee coefficients associated with certain client- and IPO-specific attributes are lower during hot markets. Our results are consistent with t...
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作者：Ho, Joanna L. Y.; Lee, Ling-Chu; Wu, Anne
作者单位：University of California System; University of California Irvine; National Chengchi University
摘要：Prior studies have examined how changes to a more performance-sensitive incentive scheme influence employees' compensation and performance. However, there are examples from practice (e.g., Sears) of companies changing to more performance-sensitive incentive schemes. This study reports that a change from a performance-sensitive (commission-based) scheme to a less performance-sensitive (base salary plus commission) scheme hurts employee performance. Also, we extend prior research by examining ho...
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作者：Wiedman, Christine I.
作者单位：University of Waterloo
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作者：Cheng, Shijun; Indjejikian, Raffi J.
作者单位：University System of Maryland; University of Maryland College Park; University of Michigan System; University of Michigan
摘要：We study the relation between firms' internal governance mechanisms and the market for corporate control by examining how chief executive officer (CEO) compensation changed following the enactment of anti-take-over laws by various states in the 1980s. We find that CEOs are paid more after controlling for performance and their compensation is more sensitive to performance (both stock returns and accounting return on assets) following the enactment of these laws. We also find that the increased ...
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作者：Bushman, Robert M.
作者单位：University of North Carolina; University of North Carolina Chapel Hill
