Contemporary Accounting Research

最新文章

• A Lobbying Approach to Evaluating the Whistleblower Provisions of the Dodd-Frank Reform Act of 2010 AI翻译
  作者：Baloria, Vishal P.; Marquardt, Carol A.; Wiedman, Christine I.
  作者单位：Boston College; City University of New York (CUNY) System; Baruch College (CUNY); University of Waterloo
  摘要：We evaluate the net costs and benefits of the whistleblower (WB) provisions adopted under the Dodd-Frank Reform Act of 2010 by examining investor responses to events related to the proposed regulations. We focus our main analysis on a sample of firms that lobbied against implementation of the WB provisions by submitting a comment letter to the SEC. Lobbying firms are characterized by weaker existing WB programs and greater degrees of managerial entrenchment than a matched control sample of sim...
• The Relevance to Investors of Greenhouse Gas Emission Disclosures AI翻译
  作者：Griffin, Paul A.; Lont, David H.; Sun, Estelle Y.
  作者单位：University of California System; University of California Davis; University of Otago; Boston University
  摘要：This study finds that investors price firms' greenhouse gas (GHG) emissions as a negative component of equity value, and this valuation discount does not differ between firms that voluntarily disclose to the Carbon Disclosure Project (CDP) and nondisclosing firms. We derive the GHG emissions for nondisclosers from an estimation model that incorporates firm characteristics and industry. The finding that investors view CDP amounts and estimates of emissions as equally value-relevant suggests tha...
• Discussion of The Consequences of Audit-Related Earnings Revisions AI翻译
  作者：Hillison, Sean M.; Peecher, Mark E.
  作者单位：Virginia Polytechnic Institute & State University; University of Illinois System; University of Illinois Urbana-Champaign
  摘要：We organize our discussion of Haislip, Myers, Scholz, and Seidel (2017) (hereafter HMSS) around three areas: managing auditor business risk, a lack of auditor competence as an alternative story to auditors acting independently for their results, and drawing inferences from archival vis-a-vis experimental studies. We conclude our discussion by arguing that the investigation by HMSS sets the stage for future research concerning why earnings revisions occur and why auditors and CFOs appear to bea...
• Development Cost Capitalization During R&D Races AI翻译
  作者：De Waegenaere, Anja; Sansing, Richard C.; Wielhouwer, Jacco L.
  作者单位：Tilburg University; Tilburg University; Vrije Universiteit Amsterdam
  摘要：We investigate the economic effects of capitalizing development costs during a race between two firms to discover and develop a new technology. Winning the race requires success in the research stage and success in the development stage. Development costs are expensed in some settings, but capitalized in others. Capitalization of development costs provides a credible signal regarding progress in the race, allowing the rival to make a more informed decision regarding whether to proceed with dev...
• Transfer Pricing: Strategies, Practices, and Tax Minimization AI翻译
  作者：Klassen, Kenneth J.; Lisowsky, Petro; Mescall, Devan
  作者单位：University of Waterloo; University of Illinois System; University of Illinois Urbana-Champaign; University of Saskatchewan
  摘要：Using a survey of tax executives from multinational corporations, we document that some firms set their transfer pricing strategy to minimize tax payments, but more firms focus on tax compliance. We estimate that a firm focusing on minimizing taxes has a GAAP effective tax rate that is 6.6 percentage points lower and generates about $43 million more in tax savings, on average, than a firm focusing on tax compliance. Available COMPUSTAT data on sample firms confirm our survey-based inferences. ...
• Audit Office Reputation Shocks from Gains and Losses of Major Industry Clients AI翻译
  作者：Francis, Jere R.; Mehta, Mihir N.; Zhao, Wanli
  作者单位：University of Missouri System; University of Missouri Columbia; University of Technology Sydney; University of Michigan System; University of Michigan; Southern Illinois University System; Southern Illinois University; Renmin University of China
  摘要：Our study reports evidence on the dynamic effects of client switches on auditor reputations and fee premia. Offices of large accounting firms that lose (gain) major industry clients experience a reputation shock leading to more same-industry client losses (gains) over the next two years. There is also a shift in audit fees charged to other same-industry clients when a major client loss (gain) results in an audit office losing (gaining) city-level industry leadership. A major client loss or gai...
• The Consequences of Audit-Related Earnings Revisions AI翻译
  作者：Haislip, Jacob Z.; Myers, Linda A.; Scholz, Susan; Seidel, Timothy A.
  作者单位：University of North Texas System; University of North Texas Denton; University of Tennessee System; University of Tennessee Knoxville; University of Kansas; Brigham Young University
  摘要：In this study, we investigate the consequences that auditors and their clients face when earnings announced in an unaudited earnings release are subsequently revised, presumably as a result of year-end audit procedures, so that earnings as reported in the 10-K differ from earnings as previously announced. Specifically, we examine whether the likelihood of an auditor losing the client is greater following such revisions, and whether the likelihood of dismissal is influenced by revisions that mo...
• Board Gender Diversity, Auditor Fees, and Auditor Choice AI翻译
  作者：Lai, Karen M. Y.; Srinidhi, Bin; Gul, Ferdinand A.; Tsui, Judy S. L.
  作者单位：Deakin University; University of Texas System; University of Texas Arlington; Wuhan College
  摘要：We examine whether the presence of female directors and female audit committee members affect audit quality in terms of audit effort and auditor choice by using observations from a sample of U.S. firms, spanning the years 2001-2011. We find, after controlling for endogeneity and other board, firm, and industry characteristics, that firms with gender-diverse boards (audit committees) pay 6 percent (8 percent) higher audit fees and are 6 percent (7 percent) more likely to choose specialist audit...
• Who Herds? Who Doesn't? Estimates of Analysts' Herding Propensity in Forecasting Earnings AI翻译
  作者：Huang, Rong; Krishnan, Murugappa (Murgie); Shon, John; Zhou, Ping
  作者单位：City University of New York (CUNY) System; Baruch College (CUNY); William Paterson University New Jersey; Rutgers University System; Rutgers University New Brunswick; Fordham University
  摘要：We develop parametric estimates of the imitation-driven herding propensity of analysts and their earnings forecasts. By invoking rational expectations, we solve an explicit analyst optimization problem and estimate herding propensity using two measures: First, we estimate analysts' posterior beliefs using actual earnings plus a realization drawn from a mean-zero normal distribution. Second, we estimate herding propensity without seeding a random error, and allow for nonorthogonal information s...
• Executive Bonus Target Ratcheting: Evidence from the New Executive Compensation Disclosure Rules AI翻译
  作者：Kim, Sunyoung; Shin, Jae Yong
  作者单位：Monash University; Seoul National University (SNU)
  摘要：This study investigates whether firms revise executive bonus compensation targets based on past performance. Studies in this area suffer from a lack of detailed information related to executive performance targets. Using mandatory disclosures of executive compensation information under the U.S. Securities and Exchange Commission's new disclosure rules, this study provides the first large-sample evidence of bonus target ratcheting. There are three major findings: (i) executive bonus targets rat...