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作者：Begley, J; Chamberlmn, SL; Li, YH
作者单位：University of British Columbia; Purdue University System; Purdue University
摘要：This paper uses the residual income valuation technique outlined in Feltham and Ohlson 1996 to examine the relation between stock valuations and accounting numbers for a prototypical banking firm. Prior work of this nature typically assumes a manufacturing setting. This paper contributes to the prior research by clarifying how the approach can be extended to settings where value is created from financial assets and liabilities. Key elements of our model include allowing banks to generate posit...
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作者：Francis, Jere R.
作者单位：University of Missouri System; University of Missouri Columbia
摘要：Ruddock, Taylor, and Taylor (2006) use an earnings conservatism framework to investigate the effects of nonaudit services (NAS) on earnings conservatism, and to test whether audit quality was impaired by NAS in Australia during the 1990s. They find no evidence of differential conservatism conditional on the level of NAS fees paid to auditors, and thus conclude that NAS have no adverse effect on audit quality. While this result may not extrapolate to the U.S. setting due to institutional differ...
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作者：Niu, Flora F.; Richardson, Gordon D.
作者单位：Wilfrid Laurier University; University of Toronto
摘要：Two standard-setting approaches have emerged globally to guide the choice of accounting for securitizations: the control and components approach (SFAS No. 125 and SFAS No. 140) and the risks and rewards transfer approach (IAS No. 39). A lack of consensus about derecognition accounting is a major impediment to achieving convergence in global standards that must be resolved. Thus, both SFAS No. 140 and IAS No. 39 will be reexamined, and evidence pertinent to the debate is timely and important. I...
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作者：Khurana, Inder K.; Raman, K. K.
作者单位：University of Missouri System; University of Missouri Columbia; University of North Texas System; University of North Texas Denton
摘要：In this study, we investigate whether investor perceptions of the financial reporting credibility of Big 5 audits are related to the auditor's economic dependence on the client as measured by nonaudit as well as total (audit and nonaudit) fees paid to the incumbent auditor. We use the client-specific ex ante cost of equity capital as a proxy for investor perceptions of financial reporting credibility and examine auditor fees both as a proportion of the revenues of the audit firm and as a propo...
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作者：Ruddock, Caitlin; Taylor, Sarah J.; Taylor, Stephen L.
作者单位：University of New South Wales Sydney; University of Melbourne
摘要：We examine whether the provision of nonaudit services (NAS) by incumbent auditors is associated with a reduction in the extent to which earnings reflect bad news on a timely basis (that is, news-based conservatism). Reduced conservatism is expected to occur if relatively high levels of NAS result in reduced auditor independence and, ultimately, lower-quality auditing. Because client-specific demand for NAS is expected to vary, our proxy for the auditor-client economic bond is the extent to whi...
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作者：Johnston, Derek
作者单位：Colorado State University System; Colorado State University Fort Collins
摘要：This paper examines whether firms that voluntarily recognize stock option expense in their financial statements manage that expense downward more than firms that do not recognize the expense by adjusting option-pricing model assumptions. To examine this issue, I collect option-pricing model assumptions from fiscal year 2002 for both a sample of firms that voluntarily recognize stock option expense (recognizing firms) and a sample of control firms that do not (disclosing firms). The empirical r...
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作者：Hodder, Leslie; Mayew, William J.; McAnally, Mary Lea; Weaver, Connie D.
作者单位：Indiana University System; Indiana University Bloomington; Duke University; Texas A&M University System; Texas A&M University College Station
摘要：We examine the determinants of managers' use of discretion over employee stock option (ESO) valuation-model inputs that determine ESO fair values. We also explore the consequences of such discretion. Firms exercise considerable discretion over all model inputs, and this discretion results in material differences in ESO fair-value estimates. Contrary to conventional wisdom, we find that a large proportion of firms exercise value-increasing discretion. Importantly, we find that using discretion ...
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作者：Mohanram, Partha S.; Sunder, Shyam V.
作者单位：Columbia University; Northwestern University
摘要：In this paper, we analyze how financial analysts generate information, make decisions about firm coverage, and try to maintain their forecasting accuracy after the passage of Regulation Fair Disclosure (Reg FD). Using the model developed by Barron, Kim, Lim, and Stevens 1998, we find that analysts are investing more effort in idiosyncratic information discovery. In order to do this, individual analysts appear to be reducing coverage for well-followed firms while increasing coverage of firms th...
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作者：Lee, Yen-Jung; Petroni, Kathy R.; Shen, Min
作者单位：University System of Georgia; Georgia State University; Michigan State University
摘要：Statement of Financial Accounting Standards No. 130: Reporting Comprehensive Income encourages enterprises to report comprehensive income on a performance statement rather than on a statement of equity. We investigate the reporting decisions of 82 publicly traded property-liability insurers that are fairly evenly split in their choice. Our results demonstrate that insurers with a tendency to manage earnings through realized securities' gains and losses (that is, cherry pickers), as well as ins...
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作者：Hay, DC; Knechel, WR; Wong, N
作者单位：University of Auckland
摘要：We evaluate and summarize the large body of audit fee research and use meta-analysis to test the combined effect of the most commonly used independent variables. The perspective provided by the meta-analysis allows us to reconsider the anomalies, mixed results, and gaps in audit fee research. We find that, although many independent variables have consistent results, several show no clear pattern to the results and others only show significant results in certain periods or particular countries....
