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作者：Griffith, Emily E.; Hammersley, Jacqueline S.; Kadous, Kathryn
作者单位：University of Wisconsin System; University of Wisconsin Madison; University System of Georgia; University of Georgia; Emory University
摘要：Auditors and regulators have invested heavily in improving audits of estimates in recent years, but problems in this area persist. We examine the causes of these problems and why they persist. To do so, we interview 24 very experienced auditors about how they audit complex accounting estimates such as fair values and impairments and what problems they experience in the process. We find that auditors overwhelmingly choose to audit the details of management's estimate rather than use other allow...
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作者：Allee, Kristian D.; Lynch, Daniel P.; Petroni, Kathy R.; Schroeder, Joseph H.
作者单位：University of Wisconsin System; University of Wisconsin Madison; Michigan State University; Indiana University System; Indiana University Bloomington
摘要：This study investigates the effect of personal property taxes (PPTs) on real business decisions. Consistent with tax avoidance, we posit that PPTs are associated with decreases (increases) in inventory prior to (following) calendar year-end assessment dates. We empirically test this prediction using monthly crude oil inventory data. We find that in locations where crude oil inventory is subject to taxation, total and refinery-level crude oil inventories are reduced prior to assessment dates an...
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作者：Walker, Stephen P.
作者单位：University of Edinburgh
摘要：Responding to calls to instate the visual in accounting history research, this study utilizes photographic images to reveal the role of accounting in the attempt to preserve an ideal (ruralism) and an institution (the family farm) in the United States. These elemental features of the American way of life were threatened during the interwar depression, resulting in governmental programs to secure their restoration. The analysis of official imagery reveals how the accounting prescriptions attend...
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作者：Brown, Kareen E.
作者单位：Brock University
摘要：This research studies whether severance agreements may reduce fraudulent earnings management, and whether severance pay mitigates executives' career concerns. In a sample of large U.S. firms, those with higher severance pay are less likely to be subject to accounting and auditing enforcement releases (AAERs) by the U.S. Securities and Exchange Commission (SEC). Among S&P 500 firms in the post-SOX period with premanaged earnings below analyst forecasts, firms with higher severance pay are less ...
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作者：Hamm, Sophia J. W.; Jung, Michael J.; Wang, Clare
作者单位：University System of Ohio; Ohio State University; New York University; Northwestern University
摘要：We examine the determinants and outcomes of Chief Executive Officers (CEOs) accepting a $1 salary, a compensation practice that occurs relatively frequently in high-profile firms and is debated by regulators, investors, and the media. Using a hand-collected sample of 93 CEOs from 91 firms between 1993 and 2011, we examine the triggers preceding the $1 salary decision, the factors associated with the decision, subsequent stock returns, and the outcomes for the CEOs. Our evidence is consistent w...
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作者：Liao, Scott
作者单位：University of Toronto
摘要：Corporate governance mechanisms designed to alleviate manager-shareholder agency conflicts can worsen shareholder-bondholder conflicts. This study examines how one such corporate governance mechanism, monitoring by large outside shareholders, influences the choice between public and private debt. I conjecture and find that firms with higher outside blockholdings are inclined to choose bank loans over public debt when they borrow, consistent with the notion that banks are better monitors than p...
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作者：Sengupta, Partha; Zhang, Suning
作者单位：United States Department of the Treasury; Office of the Comptroller of the Currency; George Mason University
摘要：We examine the relationship between a firm's disclosure quality and equity-based compensation of independent members of the board of directors. The dimensions of disclosure quality we focus on are management's earnings guidance and information flowthrough financial analysts. Using both levels and changes specifications, we find the average ratio of equity-based pay to total pay of independent board members to be positively related to a firm's disclosure quality. Our findings are robust to the ...
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作者：Hunton, James; Arnold, Vicky; Reck, Jacqueline L.
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作者：Dhaliwal, Dan S.; Lamoreaux, Phillip T.; Lennox, Clive S.; Mauler, Landon M.
作者单位：University of Arizona; Korea University; Arizona State University; Arizona State University-Tempe; Nanyang Technological University; State University System of Florida; Florida State University
摘要：This study investigates the influence of management over auditor selection decisions during a period in which audit committees have direct responsibility for auditor selection. We find that contrary to the intent of Sarbanes-Oxley Act (SOX), management appears to retain significant influence over auditor selection in the subset of companies that select Big 4 auditors and this is not mitigated by higher-quality audit committees. As SOX presumes that management influence over auditor selection l...
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作者：Bol, Jasmijn C.; Hecht, Gary; Smith, Steven D.
作者单位：Tulane University; University of Illinois System; University of Illinois Urbana-Champaign; Brigham Young University
摘要：Discretionary bonus adjustments allow managers to restore the alignment of employee effort and compensation when bonus amounts are based on noisy objective performance measures. The implications of discretionary adjustments for employees' future efforts and fairness perceptions present important trade-offs for managers to consider. Adjustments may be used to motivate different types of effort in future periods, but may also create perceptions of unfairness among employees who are not affected ...
