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作者：Baker, Terry A.; Collins, Denton L.; Reitenga, Austin L.
作者单位：Wake Forest University; Texas Tech University System; Texas Tech University; University of Alabama System; University of Alabama Tuscaloosa
摘要：This study examines discretionary accruals imbedded in quarterly earnings announcements that precede executive stock option grants. Prior empirical research indicates that managers attempt to increase the value of their option pay (by depressing the option's exercise price) through a variety of strategies including timing voluntary disclosures, influencing option grant dates, and managing accruals. This study extends the research by jointly examining managerial incentives and opportunities to ...
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作者：Collins, Daniel W.; Gong, Guojin; Li, Haidan
作者单位：University of Iowa; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Santa Clara University
摘要：This paper investigates whether weak corporate governance is a contributing factor to the incidence of backdating executive stock option awards. On the basis of a sample of Standard & Poor's 1500 firms that exhibit evidence of backdating, we find that firms with weaker governance structures that allow chief executive officers (CEOs) to exercise greater power over the board and its compensation committee are more likely to engage in CEO stock option backdating. Moreover, the tendency to backdat...
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作者：Jamal, Karim
作者单位：University of Alberta
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作者：Vafeas, Nikos
作者单位：University of Cyprus
摘要：This paper examines whether the stock market values accounting education. Studying 616 controller appointments between 1993 and 2005 and using event-study methodology, I find evidence that the appointment of controllers with an accounting degree elicits a more favorable stock market response compared with the appointment of controllers without an accounting degree. This effect stems from outside appointments. Among accounting graduates, the market reacts more favorably when the degree is award...
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作者：Ayers, Benjamin C.; Jiang, John (Xuefeng); Laplante, Stacie K.
作者单位：University System of Georgia; University of Georgia; Michigan State University
摘要：Extant research suggests that book-tax differences are useful measures in evaluating firm performance. There is little evidence, however, regarding taxable income as an alternative performance measure to book income. We examine firm characteristics that mitigate or enhance the ability of taxable income to inform investors regarding firm performance. We find that the relative and incremental information content of estimated taxable income to book income is lower for high tax-planning firms and ...
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作者：Hirshleifer, David; Teoh, Siew Hong
作者单位：University of California System; University of California Irvine
摘要：We offer here the psychological attraction approach to accounting and disclosure rules, regulation, and policy as a program for positive accounting research. We suggest that psychological forces have shaped and continue to shape rules and policies in two different ways: (1) good rules for bad users-rules and policies that provide information in a form that is useful for users who are subject to bias and cognitive processing constraints; and (2) bad rules-superfluous or even pernicious rules an...
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作者：Weber, David P.
作者单位：University of Connecticut
摘要：Recent research reports that book-tax differences are not only informative about future earnings but are also associated with future stock returns. The combination of these results suggests the possibility that investors misprice securities by not fully incorporating taxbased information into their earnings expectations. However, because the stock market's expectations are not observable, predictable future returns may instead simply reflect differences in risk. I exploit financial analysts' e...
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作者：Gendron, Yves; Spira, Laura F.
作者单位：Laval University; Oxford Brookes University
摘要：This paper aims to improve understanding of the construction of controllability boundaries surrounding the financial audit function through a set of interviews with former members of Arthur Andersen reflecting on the collapse of their firm. Our focus is how members, in light of their firm's downfall, assess the abilities of public accounting firms to control financial audit work and auditor behavior (i.e., organizational controllability), and the abilities of outside, nonaccounting bodies to r...
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作者：Chin, Chen-Lung; Chi, Hsin-Yi
作者单位：National Chengchi University; National Chung Hsing University
摘要：This paper examines whether the likelihood of accounting restatements is associated with Big 4 industry auditor specialists, measured at both the partner level and the audit firm level. We focus on a sample of listed firms in Taiwan, where audit reports must be audited and signed by the two signing auditors as well as by an audit firm. Extending previous studies, we classify industry specialists into three groups: (a) auditors that are industry specialists at both the individual partner level ...
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作者：Gassen, Joachim; Skaife, Hollis A.
作者单位：Humboldt University of Berlin; University of Wisconsin System; University of Wisconsin Madison
摘要：We investigate whether audit reforms affect the information role of audits in a country where the audit traditionally serves a statutory reporting function. Specifically, we investigate the audit market effects of audit reforms mandated by the German government in the Act on Control and Transparency of Enterprises (the Act). We test for differences in the types of audit reports issued, the information content of first-time going-concern audit opinions, and the demand for dominant audit supplie...
