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作者：Gul, FA; Chen, CJP; Tsui, JSL
作者单位：City University of Hong Kong; Hong Kong Polytechnic University
摘要：This paper examines the linkages between discretionary accruals (DAs), managerial share ownership, management compensation, and audit fees. It draws on the theory that managers of firms with high management ownership are likely to use DAs to communicate value-relevant information, while managers of firms with high accounting-based compensation are likely to use DAs opportunistically to manage earnings to improve their compensation. OLS regression results of 648 Australian firms show that (1) t...
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作者：Francis, J; Schipper, K; Vincent, L
作者单位：Duke University; Northwestern University
摘要：We analyze the ability of earnings and non-earnings performance metrics to explain the variability in annual stock returns for industries where we identify, ex ante, an allegedly preferred (for valuation purposes) summary performance metric. We identify three industries where earnings before interest, taxes, depreciation, and amortization (EBITDA) and cash from operations (CFO) are preferred, and three industries where specific non-GAAP performance metrics are preferred. As a benchmark, we als...
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作者：Rego, SO
作者单位：University of Iowa
摘要：This paper investigates whether economies of scale exist for tax planning. In particular, do larger, more profitable, multinational corporations avoid more taxes than other firms, resulting in lower effective tax rates? While the empirical results indicate that, ceteris paribus, larger corporations have higher effective tax rates, firms with greater pre-tax income have lower effective tax rates. The negative relation between effective tax rates (ETRs) and pretax income is consistent with firms...
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作者：Hodder, L; Kohlbeck, M; McAnally, ML
作者单位：Stanford University; University of Wisconsin System; University of Wisconsin Madison; University of Texas System; University of Texas Austin
摘要：This paper provides evidence that regulatory contracts affect firms' accounting choices and risk-management decisions. Specifically, we investigate whether an exogenous shock to regulatory risk induced by Statement of Financial Accounting Standards No. 115, Accounting for Certain Investments in Debt and Equity Securities (SFAS 1993), encouraged U.S. banks to deviate from portfolio and risk benchmarks when they adopted the standard. Because we cannot observe relevant benchmarks, we model portfo...
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作者：Earley, CE
作者单位：University of Connecticut
摘要：The experiment reported in this paper tests a theoretical model of experienced and novice auditors' information use. The model, based on social cognition research, posits that when judgements are sequential, the information encountered first affects the processing of subsequent information. Specifically, initial information that is in line with expectations results in more superficial processing of subsequent information than initial information that violates expectations. The judgements of 13...
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作者：Schwartz, ST; Young, RA
作者单位：State University of New York (SUNY) System; Binghamton University, SUNY; University System of Ohio; Ohio State University
摘要：This paper describes an experiment in which subjects, acting as division managers, exchanged privately held information before making intrafirm investment decisions. Social efficiency required that managers honestly disclose their private information, but managers had individual incentives to send biased messages. These features of the model created an important role for ex post verification, the main manipulation in the experiment. The matching protocol was also manipulated, using both random...
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作者：Cohen, J; Krishnamoorthy, G; Wright, AM
作者单位：Boston College; Northeastern University
摘要：There has been growing recognition in recent years of the importance of corporate governance in ensuring sound financial reporting and deterring fraud. The audit serves as a monitoring device and is thus part of the corporate governance mosaic. The objective of this paper is to examine the impact of various corporate governance factors, such as the board of directors and the audit committee, on the audit process. Importantly, there is little professional guidance on how auditors should conside...
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作者：Carcello, JV; Hermanson, DR; Neal, TL; Riley, RA Jr
作者单位：University of Tennessee System; University of Tennessee Knoxville; University of Kentucky; West Virginia University
摘要：This paper examines the relations between three board characteristics (independence, diligence, and expertise) and Big 6 audit fees for Fortune 1000 companies. To protect its reputation capital, avoid legal liability, and promote shareholder interests, a more independent, diligent, and expert board may demand differentially higher audit quality (greater assurance, which requires more audit work) than the Big 6 audit firms normally provide. The audit fee increases as the auditor's additional co...
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作者：Chamberlain, SL
作者单位：University of British Columbia
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作者：Johnson, VE; Khurana, IK; Reynolds, JK
作者单位：University System of Georgia; Georgia State University; University of Missouri System; University of Missouri Columbia; Louisiana State University System; Louisiana State University
摘要：This study examines whether the length of the relationship between a company and an audit firm (audit-firm tenure) is associated with financial-reporting quality. Using two proxies for financial-reporting quality and a sample of Big 6 clients matched on industry and size, we find that relative to medium audit-firm tenures of four to eight years, short audit-firm tenures of two to three years are associated with lower-quality financial reports. In contrast, we find no evidence of reduced financ...
