Contemporary Accounting Research

最新文章

• Do Stronger Wise-Thinking Dispositions Facilitate Auditors' Objective Evaluation of Evidence When Assessing and Addressing Fraud Risk?* AI翻译
  作者：Brewster, Billy E.; Johanns, Alex J.; Peecher, Mark E.; Solomon, Ira
  作者单位：Texas State University System; Texas State University San Marcos; University of Illinois System; University of Illinois Urbana-Champaign; Tulane University
  摘要：The objective evaluation of evidence is imperative for audit effectiveness and the proper exercise of professional skepticism. However, numerous studies suggest that auditors fail to evaluate evidence objectively when assessing or addressing the risk of material misstatement due to fraud. We develop theory to predict that auditors do evaluate evidence objectively but only when they have stronger wise-thinking dispositions (WTDs), a construct that is new to the audit literature. We define WTDs ...
• Sentiment, Loss Firms, and Investor Expectations of Future Earnings* AI翻译
  作者：Riedl, Edward J.; Sun, Estelle Y.; Wang, Guannan
  作者单位：Boston University; Suffolk University
  摘要：This study investigates the mispricing of market-wide investor sentiment by exploring the relation between sentiment and investor expectations of future earnings. Prior research argues that sentiment-driven mispricing should be most pronounced for hard-to-value firms, such as those reporting losses (Baker and Wurgler 2006). Using investor expectations of future earnings, we provide empirical results consistent with this behavioral finance theory. We predict and find that investors perceive los...
• Trading Prior to the Disclosure of Material Information: Evidence from Regulation Fair Disclosure Form 8-Ks* AI翻译
  作者：Campbell, John L.; Twedt, Brady J.; Whipple, Benjamin C.
  作者单位：University System of Georgia; University of Georgia; University of Oregon
  摘要：Regulation Fair Disclosure (Reg FD) Form 8-K filings provide a venue where managers release information to the market as a whole that they designate as being material. Using this setting, we study trading patterns immediately prior to the public disclosure of material information. We offer three main results. First, using both intraday and daily trading data, we find abnormal trading volume of 21 percent (13 percent) in the hour (day) prior to the public disclosure, respectively. Second, we fi...
• Group Recruiting Events and Gender Stereotypes in Employee Selection* AI翻译
  作者：Fanning, Kirsten; Williams, Jeffrey; Williamson, Michael G.
  作者单位：DePaul University; Utah System of Higher Education; Utah Valley University; University of Illinois System; University of Illinois Urbana-Champaign
  摘要：This paper reports the results of multiple studies that together provide converging evidence in support of the theory that gender stereotypes bias employee selection during group recruiting events. Specifically, we predict and find that female (male) job candidates who exhibit stereotypically male behaviors receive lower (higher) evaluations during group recruiting events, particularly among male recruiters. Prior research suggests gender stereotypes do not bias employee selection during one-o...
• Do Foreign Component Auditors Harm Financial Reporting Quality? A Subsidiary-Level Analysis of Foreign Component Auditor Use* AI翻译
  作者：Docimo, William M.; Gunn, Joshua L.; Li, Chan; Michas, Paul N.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Kansas; University of Arizona
  摘要：We hypothesize and find that financial reporting quality at the foreign subsidiaries of US multinational companies (MNCs) is higher when the MNC's principal auditor engages a component auditor to audit the foreign subsidiary on its behalf. An important innovation of this study is that we focus on comparing the financial reporting quality of equivalent subsidiaries with and without component auditor work. Our approach contrasts with extant studies that examine the consequences of variation in t...
• Improving Complex Audit Judgments: A Framework and Evidence*† AI翻译
  作者：Griffith, Emily E.; Kadous, Kathryn; Young, Donald
  作者单位：University of Wisconsin System; University of Wisconsin Madison; Emory University; Indiana University System; Indiana University Bloomington
  摘要：Regulators and researchers provide evidence that auditors' judgment quality is problematic in complex audit tasks. We introduce a framework for improving auditor judgment in these tasks. The framework builds on dual-process theory to recognize that high-quality judgment in complex tasks requires that auditors (i) possess the knowledge needed for the task, (ii) recognize the need for analytical (versus heuristic) processing, and (iii) have sufficient cognitive capacity to complete the analytica...
• Non-GAAP Earnings: A Consistency and Comparability Crisis? AI翻译
  作者：Black, Dirk E.; Christensen, Theodore E.; Ciesielski, Jack T.; Whipple, Benjamin C.
  作者单位：University of Nebraska System; University of Nebraska Lincoln; University System of Georgia; University of Georgia
  摘要：We use a novel data set to examine the across-time consistency and across-firm comparability of firms' non-GAAP earnings disclosures. Given widespread concern about non-GAAP reporting among regulators, standard setters, the investor community, and academics, our investigation provides timely evidence on how managers' deviations from their own non-GAAP disclosure history, or the reporting of industry peers, affects how well earnings inform on firm performance. We begin by identifying firms that...
• The Effect of Humanizing Robo-Advisors on Investor Judgments* AI翻译
  作者：Hodge, Frank D.; Mendoza, Kim I.; Sinha, Roshan K.
  作者单位：University of Washington; University of Washington Seattle; University of Illinois System; University of Illinois Urbana-Champaign; Indiana University System; Indiana University Bloomington
  摘要：We examine the effect of humanizing (naming) robo-advisors on investor judgments, which has taken on increased importance as robo-advisors have become increasingly common and there is currently little SEC regulation governing key aspects of their use. In our first experiment, we predict and find that investors are more likely to rely on the investment recommendation of an unnamed robo-advisor, whereas they are more likely to rely on the investment recommendation of a named human advisor. Theor...
• Reporting Bias and Monitoring in Clean Development Mechanism Projects AI翻译
  作者：Chen, Hui; Letmathe, Peter; Soderstrom, Naomi
  作者单位：University of Zurich; RWTH Aachen University; University of Melbourne
  摘要：The Clean Development Mechanism (CDM) is a flexible carbon market mechanism managed by the United Nations. The program grants tradable carbon emissions credits (Certified Emission Reductions) for carbon-reducing projects in developing countries. A project can only be admitted to the program if it is not financially profitable, and thus would not take place without the emission credits granted through the CDM. In this paper, we examine how monitoring reduces incentives of companies to bias the ...
• Deploying Narrative Economics To Understand Financial Market Dynamics: An Analysis of Activist Short Sellers' Rhetoric* AI翻译
  作者：Paugam, Luc; Stolowy, Herve; Gendron, Yves
  作者单位：Hautes Etudes Commerciales (HEC) Paris; Laval University
  摘要：We investigate how activist short sellers (AShSs) expose publicly listed firms in an increasingly popular form of research reports openly denouncing alleged frauds, flawed business models, accounting irregularities, and wrongdoings. We focus on six AShSs that issued research reports that often led to a strong negative market reaction. Our empirical analysis exploits both qualitative and quantitative methods for a comprehensive data set of 383 research reports targeting 171 unique firms, and 3 ...