Contemporary Accounting Research

最新文章

• The Economics of Setting Auditing Standards AI翻译
  作者：Ye, Minlei; Simunic, Dan A.
  作者单位：University of Toronto; University of British Columbia
• Accounting Restatements and External Financing Choices AI翻译
  作者：Chen, Xia; Cheng, Qiang; Lo, Alvis K.
  作者单位：Singapore Management University; Boston College
  摘要：There is little research on how accounting information quality affects a firm's external financing choices. In this paper, we use the occurrence of accounting restatements as a proxy for the reduced credibility of accounting information and investigate how restatements affect a firm's external financing choices. We find that for firms that obtain external financing after restatements, they rely more on debt financing, especially private debt financing, and less on equity financing. The increas...
• Does Mandatory Adoption of IFRS Improve Accounting Quality? Preliminary Evidence AI翻译
  作者：Ahmed, Anwer S.; Neel, Michael; Wang, Dechun
  作者单位：Texas A&M University System; Texas A&M University College Station; University of Houston System; University of Houston
  摘要：We provide evidence on the preliminary effects of mandatory adoption of International Financial Reporting Standards (IFRS) on accounting quality for a relatively broad set of firms from 20 countries that adopted IFRS in 2005 relative to a benchmark group of firms from countries that did not adopt IFRS matched on the strength of legal enforcement, industry, size, book-to-market, and accounting performance. Relative to these benchmark firms, we find that IFRS firms exhibit significant increases ...
• Did SOX Section 404 Make Firms Less Opaque? Evidence from Cross-Listed Firms AI翻译
  作者：Arping, Stefan; Sautner, Zacharias
  作者单位：University of Amsterdam
• Discussion of The Economics of Setting Auditing Standards AI翻译
  作者：Caskey, Judson
• A Commitment-Based Explanation for Outsourcing Multiple Tasks AI翻译
  作者：Liao, Pei-Cheng; Radhakrishnan, Suresh
  作者单位：National Taiwan University; University of Texas System; University of Texas Dallas
• Corporate Governance Reform and Executive Incentives: Implications for Investments and Risk Taking AI翻译
  作者：Cohen, Daniel A.; Dey, Aiyesha; Lys, Thomas Z.
  作者单位：University of Texas System; University of Texas Dallas; University of Minnesota System; University of Minnesota Twin Cities; Northwestern University
  摘要：We investigate the mechanism through which the Sarbanes Oxley Act (SOX) was associated with changes in corporate investment strategies. We document that the passage of the governance regulations in SOX was followed by a significant decline in pay-performance sensitivity (Delta) and incentives to take risk (Vega) in CEOs' compensation contracts. These changes in compensation contracts are related to a decline in investments, including research and development expenditures, capital investments a...
• Labor Unions and Management's Incentive to Signal a Negative Outlook AI翻译
  作者：Bova, Francesco
  作者单位：University of Toronto
  摘要：Evidence suggests that the negotiated wage for a unionized employee group is an increasing function of the firm's prior profitability. As a result, managers may have an incentive to strategically signal a negative outlook to their unionized workers in order to improve the firm's bargaining position. I assess the strategy of missing mean consensus analysts' earnings estimates as a way for managers to signal a negative outlook to their unionized employees. I find that unionized firms are more li...
• Turning Up the Volume: An Experimental Investigation of the Role of Mutual Monitoring in Tournaments AI翻译
  作者：Hannan, R. Lynn; Towry, Kristy L.; Zhang, Yue (May)
  作者单位：Tulane University; Emory University; Northeastern University - China
  摘要：This study investigates experimentally how mutual monitoring affects effort when employees are compensated via rank-order tournaments. Theory and anecdotal evidence suggest that mutual monitoring may either decrease effort by facilitating collusion or increase effort by stimulating competition. In our first experiment, we find that mutual monitoring increases effort, because participants do not attempt to collude but rather behave competitively. This result leads us to expand our theory and de...
• Does Disclosure Regulation Work? Evidence from International IPO Markets AI翻译
  作者：Shi, Charles; Pukthuanthong, Kuntara; Walker, Thomas
  作者单位：National University of Singapore; California State University System; San Diego State University; Concordia University - Canada
  摘要：This study examines whether IPO disclosure requirements mandated by countries' securities laws are associated with variation in IPO underpricing in international IPO markets. Our empirical analysis uses a unique sample of 6,025 IPOs from 34 countries over the period from 1995 to 2002. We show for the first time that the stringency of disclosure requirements for IPO prospectuses is negatively associated with the extent of IPO underpricing, after controlling for various country- and firm-level d...