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作者：Wu, Joanna Shuang; Zhang, Ivy Xiying
作者单位：University of Rochester; University of California System; University of California Riverside
摘要：We study whether mandatory adoption of International Financial Reporting Standards (IFRS) is associated with changes in the sensitivity of CEO turnover to accounting earnings and how the impact of IFRS adoption varies with country-level institutions and firm-level incentives. We find that CEO turnover responds more to a firm's accounting performance after adoption. This increase in turnover-to-earnings sensitivity is concentrated in countries with stronger enforcement of financial reporting an...
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作者：Li, Kevin; Mohanram, Partha
作者单位：University of California System; University of California Riverside; University of Toronto
摘要：Using cross-sectional forecasts, we combine fundamental analysis strategies based on quality, such as the FSCORE from Piotroski (2000) and the GSCORE from Mohanram (2005), with strategies based on value, such as the V/P ratio from Frankel and Lee (1998) and the PEG ratio. While all four strategies generate significant hedge returns, combining quality-driven and value-driven approaches substantially improves the efficacy of fundamental analysis. Our parsimonious two-dimensional approach can be ...
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作者：Arnold, Markus C.; Tafkov, Ivo D.
作者单位：University of Bern; University System of Georgia; Georgia State University
摘要：This study investigates whether task interdependence in teams alters the effectiveness of managerial discretion in motivating team performance. Teams are particularly useful when employees' tasks are interdependent-that is, when the degree to which the increase in team performance resulting from a team member's effort depends on the effort and skills of the other team members. The reason is that the more interdependent tasks are, the more employees need to coordinate their actions and help one...
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作者：Kim, Chansog (Francis); Wang, Ke; Zhang, Liandong
作者单位：State University of New York (SUNY) System; Stony Brook University; University of Alberta; Singapore Management University
摘要：This study shows that less readable 10-K reports are associated with higher stock price crash risk. The results are consistent with the argument that managers can successfully hide adverse information by writing complex financial reports, which leads to stock price crashes when the hidden bad news accumulates and reaches a tipping point. Cross-sectional analyses show that the effect of financial reporting complexity on crash risk is more pronounced for firms with persistent negative earnings n...
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作者：Westermann, Kimberly D.; Cohen, Jeffrey; Trompeter, Greg
作者单位：California State University System; California Polytechnic State University San Luis Obispo; Boston College; State University System of Florida; University of Central Florida
摘要：The objective of our article is to obtain a better understanding of how auditors anticipate the potential for PCAOB inspection, experience the inspection, cope with the consequences of the inspection, and understand the PCAOB's influence within the context of professionalism. We use a qualitative approach that uses both surveys (55) and interviews (20) of auditors (of varying rank and firm) across a five-year period (2012-2017). Respondents suggest that PCAOB inspectors are powerful, represent...
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作者：Czerney, Keith; Schmidt, Jaime J.; Thompson, Anne M.
作者单位：University of Missouri System; University of Missouri Columbia; University of Texas System; University of Texas Austin; University of Illinois System; University of Illinois Urbana-Champaign
摘要：This article investigates whether investors respond to explanatory language (EL) added to unqualified audit reports. Although prior research finds an association between auditor EL and lower financial reporting quality, surveys suggest that many investors limit their attention to the unqualified nature of the opinion. We use three-day abnormal returns and abnormal trading volume to measure investor response to EL in unqualified audit reports issued from 2000 to 2014. We find little evidence to...
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作者：Cade, Nicole L.; McVay, Sarah E.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Washington; University of Washington Seattle
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作者：Ahmed, Anwer S.; Christensen, Brant E.; Olson, Adam J.; Yust, Christopher G.
作者单位：Texas A&M University System; Texas A&M University College Station; University of Oklahoma System; University of Oklahoma - Norman; University System of Ohio; University of Cincinnati
摘要：We investigate the effect of executives and directors with prior banking crisis experience on bank outcomes around the global financial crisis (GFC). Executives and directors with previous experience leading banks through a bank crisis may have been uniquely able to understand the risks, recognize the warnings signs early, and thus respond more effectively to the GFC. Controlling for other executive, director, and bank-level characteristics, we examine whether bank performance, risk taking, an...
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作者：Cooper, David J.; Ezzamel, Mahmoud; Robson, Keith
作者单位：University of Alberta; University of Edinburgh; Cardiff University; Hautes Etudes Commerciales (HEC) Paris
摘要：This field study examines the workings of multiple performance measurement systems (PMSs) used within and between a division and Headquarters (HQ) of a large European corporation. We explore how multiple PMSs arose within the multinational corporation. We first provide a first-order analysis which explains how managers make sense of the multiplicity and show how an organization's PMSs may be subject to competing processes for control that result in varied systems, all seemingly functioning, bu...
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作者：Rozenbaum, Oded
作者单位：George Washington University
摘要：EBITDA is a commonly used performance measure for (i) valuation, (ii) debt contracting, and (iii) executive compensation. The widespread use of EBITDA by stakeholders may induce managers to focus their attention on EBITDA. Since EBITDA excludes various expenses, managers who fixate on EBITDA may underweight the excluded expenses when determining their firms' investments in capital and leverage levels. I find that managers who fixate on EBITDA overinvest in capital and overlever their firm rela...
