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作者：Lin, Steve; Riccardi, William N.; Wang, Changjiang
作者单位：State University System of Florida; Florida International University; State University of New York (SUNY) System; University at Albany, SUNY; University System of Ohio; University of Cincinnati
摘要：One of the primary objectives of both adoption of IFRS and convergence between IFRS and U.S. GAAP is to increase financial statement comparability. Using a unique setting in Germany, we compare the effectiveness of these two approaches in achieving this desired outcome. Our empirical tests show that both adoption and convergence lead to an increase in comparability after the new enforcement regulation in 2005. However, difference-in-differences tests show that adoption does not lead to a signi...
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作者：Hofmann, Christian; Rothenberg, Naomi R.
作者单位：University of Munich; University of Alberta
摘要：We study a principal's choice of whether to produce an imperfect forecast about a firm's outcome either before or after an agent's effort choice. The early forecast affects the agent's effort choice, which means the forecast can also be used to infer information about the effect of the agent's effort on outcome. The late forecast is more accurate because, by working hard, the agent also learns about productivity, implying that the late forecast has an additional performance measurement role. W...
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作者：Glover, Steven M.; Taylor, Mark H.; Wu, Yi-Jing
作者单位：Brigham Young University; State University System of Florida; University of South Florida; Texas Tech University System; Texas Tech University
摘要：Reported deficiencies continue to persist in audits of fair value measurements and other complex accounting estimates (hereafter, FVMs), despite improvements in auditor performance observed by regulators. The persistence of reported deficiencies in audits of FVMs suggests that factors underlying this trend may be more complicated and multidimensional than previously suggested by regulators and academic research, which has focused largely on auditors' unsatisfactory performance as the principal...
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作者：Bonsall, Samuel B.; Comprix, Joseph; Muller, Karl A., III
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Syracuse University
摘要：Concerns are commonly raised that strong public unions extract generous pension benefits from state governments and are the cause of states' burdensome pension obligations. Prior research (Anzia and Moe 2015) finds evidence supporting such concerns. Consistent with incentives to minimize such perceptions, our findings suggest that state pension plans with stronger public unions select higher discount rates to improve reported funding levels. While riskier asset allocations are used to support ...
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作者：Francis, Jere R.; Neuman, Stevanie S.; Newton, Nathan J.
作者单位：Maastricht University; University of Technology Sydney; University of Missouri System; University of Missouri Columbia; State University System of Florida; Florida State University
摘要：We investigate whether firms' tax planning affects the accuracy of analysts' forecasts. Tax planning can exacerbate the complexity of firms' operations through strategic choices to exploit tax laws. Because of its effect on firms' operations, tax planning can influence analysts' efforts to understand and forecast earnings. Specifically, if the additional complexity arising from tax planning makes firm attributes less representative of expected earnings, analysts may issue less accurate forecas...
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作者：Balakrishnan, Ramji; Drymiotes, George; Sivaramakrishnan, Konduru
作者单位：University of Iowa; Texas Christian University; Rice University
摘要：We examine a principal-agent setting in which the principal uses a performance measurement system for multiple purposes-to provide incentives and for retention decisions. The principal chooses the nature and extent of bias in the system, which determines whether the performance report is stringent, neutral, or lenient relative to the unobservable actual outcome. We show that when the report is used only for incentive purposes (an incentive role), stringency alleviates moral hazard. On the othe...
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作者：Kim, Jeong-Bon; Kim, Joung W.; Lim, Jee-Hae
作者单位：City University of Hong Kong; Nova Southeastern University; University of Hawaii System; University of Hawaii Manoa
摘要：We examine whether the use of eXtensible Business Reporting Language (XBRL) for financial reporting (i.e., interactive data submissions) reduces earnings management during the period of XBRL implementation by the SEC. Using a sample of mandated XBRL filers, we compare the magnitude of absolute discretionary accruals in the XBRL adoption quarters with that in the non-adopting quarters. We also take advantage of staggered (three-stage phase-in) XBRL implementations to perform difference-in-diffe...
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作者：Dhaliwal, Dan; He, Wen; Li, Yan; Pereira, Raynolde
作者单位：University of Arizona; University of Queensland; University of Melbourne; University of Missouri System; University of Missouri Columbia
摘要：We empirically examine whether adopting a uniform set of accounting standards mitigates information frictions in financial markets and facilitates market integration. Using a difference-in-difference design, we find that after the mandatory adoption of IFRS local stock returns incorporate more global information and at a faster speed. The effect of IFRS adoption is stronger in countries where there are larger improvements in accounting comparability and for firms with a larger increase in fore...
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作者：Hung, Shengmin; Pan, Hunghua; Wang, Taychang
作者单位：Soochow University; National Tsing Hua University; National Taiwan University
摘要：This study examines the rather controversial practice of managerial hedging, which allows CEOs to delink their compensation from stock price performance. We presume that boards are aware of these practices and adjust the weights placed on accounting-based and stock-based performance measures in executive compensation contracts to mitigate the problem. Empirically, we find that, in the presence of managerial hedging opportunities, accounting-based performance measures receive more weight, where...
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作者：Arya, Anil; Mittendorf, Brian; Yoon, Dae-Hee
作者单位：University System of Ohio; Ohio State University; Yonsei University
摘要：Firms' reluctance at times to publicly disclose financial information is often attributed to concern that the information may be used against them by self-interested outside parties. These outside parties may interact with the firm in the horizontal realm (e.g., retail competitors) or in the vertical arena (e.g., wholesale suppliers). This article is built on the premise that fully understanding the strategic consequences of disclosure requires joint consideration of horizontal and vertical re...
