Contemporary Accounting Research

最新文章

• The Information Content of Tax Expense: A Discount Rate Explanation AI翻译
  作者：Henry, Erin
  作者单位：University of Memphis
  摘要：I investigate the information content of income tax expense using variance decomposition to separate stock returns into cash flow and discount rate news components. While prior literature has focused on linking tax expense with expected future cash flows, I argue that tax expense should also be informative about discount rates because of its ability to summarize fundamental economic performance. Consistent with my arguments, I find that tax expense surprises are correlated with both revisions ...
• The Psychology of Billing AI翻译
  作者：Hansen, Victoria J.; Jackson, Scott B.; Schaefer, Tammie J.; Stewart, Bryan W.
  作者单位：University of North Carolina; University of North Carolina Wilmington; University of South Carolina System; University of South Carolina Columbia; University of Missouri System; University of Missouri Kansas City; Brigham Young University
  摘要：Contracting between tax entities and tax professionals occurs millions of times every year, yet little is known about the nature of these economic interactions. This study examines the effect of commonly occurring contextual factors on tax professionals' billing decisions for tax research. These contextual factors are unrelated to the tax research itself and the time it takes to conduct the tax research, but we find that billing decisions are strongly influenced by the three non-time-related c...
• Subjectivity in Professionals' Incentive Systems: Differences between Promotion- and Performance-Based Assessments AI翻译
  作者：Bol, Jasmijn C.; Leiby, Justin
  作者单位：Tulane University; University System of Georgia; University of Georgia
  摘要：We examine how managers assess performance and promotion prospectsthat is, the ex ante likelihood of promotionand the conditions under which these assessments diverge. We argue that managers apply different cognitive schemas when they make different assessments. To the extent that a signal provides different information about future versus current contributions, assessed performance and promotion prospects are likely to diverge. In two experiments, we manipulate professionals' promotion eligib...
• The Effects of Multitasking on Auditors' Judgment Quality AI翻译
  作者：Mullis, Curtis E.; Hatfield, Richard C.
  作者单位：University System of Georgia; Georgia State University; University of Alabama System; University of Alabama Tuscaloosa
  摘要：Auditors must frequently multitask in order to complete their work efficiently. However, the potential impact of multitasking on auditors' judgment quality is poorly understood. Using Ego Depletion Theory and a laboratory experiment, we predict and find that auditors become less able to identify seeded errors after multitasking, and that this effect is most prominent in the identification of conceptual, rather than mechanical, errors. These negative consequences of multitasking are mitigated w...
• Can Shareholders Be at Rest after Adopting Clawback Provisions? Evidence from Stock Price Crash Risk AI翻译
  作者：Bao, Dichu; Fung, Simon Yu Kit; Su, Lixin (Nancy)
  作者单位：Hong Kong Polytechnic University; Deakin University; Lingnan University
  摘要：Using a propensity score matched sample and a difference-in-differences research design, we find that stock price crash risk increases after a firm voluntarily incorporates clawback provisions in executive officers' compensation contracts. This heightened crash risk is concentrated in adopters that increase upward real activities-based earnings management and those that reduce the readability of 10-K reports. Based on cross-sectional analyses, we also find that the increased crash risk is more...
• Do Analysts' Cash Flow Forecasts Improve Their Target Price Accuracy? AI翻译
  作者：Hashim, Noor A.; Strong, Norman C.
  作者单位：Lancaster University; University of Manchester; Alliance Manchester Business School
  摘要：The literature on the usefulness of analysts' cash flow forecasts is unsettled, with Call et al. (2009), Mohanram (2014), and Radhakrishnan and Wu (2014) providing evidence in favor of their usefulness, and Givoly et al. (2009), Bilinski (2014), and Ecker and Schipper (2014) questioning this. Target prices provide a good setting to test the usefulness of cash flow forecasts because they are an ultimate output of an analyst's valuation process to which cash flow forecasts are an input. Moreover...
• Getting Comfortable on Audits: Understanding Firms' Usage of Forensic Specialists AI翻译
  作者：Jenkins, J. Gregory; Negangard, Eric M.; Oler, Mitchell J.
  作者单位：Auburn University System; Auburn University; University of Virginia; University of Wyoming
  摘要：Increasing financial statement complexity along with an intense focus on audit quality has created challenges for today's auditors. As a result, audit firms are increasingly relying on various specialists to help them perform their audits. To better understand why and how audit firms are using forensic specialists on their audits, we conduct an exploratory survey of experienced audit and forensic professionals. Our results suggest auditors are largely relying on forensic specialists to provide...
• Blockholder Exit Threats and Financial Reporting Quality AI翻译
  作者：Dou, Yiwei; Hope, Ole-Kristian; Thomas, Wayne B.; Zou, Youli
  作者单位：New York University; University of Toronto; BI Norwegian Business School; University of Oklahoma System; University of Oklahoma - Norman; George Washington University
  摘要：Recent theoretical and empirical studies suggest that blockholders (shareholders with ownership5 percent) exert governance through the threat of exit. Blockholders have strong incentives to gather private information and sell their shares when managers are perceived to underperform. To prevent blockholders from selling their shares and the firm from suffering a stock price decline, managers align their actions with the interests of shareholders. As a result of the greater manager-shareholder a...
• The Joint Effect of Audit Quality and Legal Regimes on the Use of Real Earnings Management: International Evidence AI翻译
  作者：Choi, Ahrum; Choi, Jong-Hag; Sohn, Byungcherl Charlie
  作者单位：Hong Kong Baptist University; Seoul National University (SNU); University of Macau
  摘要：This study investigates whether and how a firm's real earnings management (REM) is influenced by the strength of a country's legal regime and the presence of a Big 4 auditor. In a cross-country examination using data from 22 countries, we find that REM increases in countries with stronger legal regimes as firms switch from accrual-based earnings management (AEM) to REM. The presence of a Big 4 auditor reduces REM (as well as AEM) and attenuates the positive relation between legal regime streng...
• How Important are Dividend Signals in Assessing Earnings Persistence? AI翻译
  作者：Homburg, Carsten; Mueller, Christian; Nasev, Julia
  作者单位：University of Cologne; University of Munich
  摘要：We build and test a Bayesian model that shows how investors revise their earnings persistence expectations after dividend announcements. When dividend changes confirm preceding earnings changes, our model predicts inverse u-shaped investor revisions conditional on the prior expectations for noisy dividend signals. As the dividend signal becomes more informative, our model predicts that investor revisions will become more skewed converging to a monotonically decreasing relation for perfectly in...