Journal of Accounting and Economics

最新文章

• The financial reporting environment: Review of the recent literature AI翻译
  作者：Beyer, Anne; Cohen, Daniel A.; Lys, Thomas Z.; Walther, Beverly R.
  作者单位：Northwestern University; Stanford University; University of Texas System; University of Texas Dallas
  摘要：The corporate information environment develops endogenously as a consequence of information asymmetries and agency problems between investors, entrepreneurs, and managers. We review current research on the three main decisions that shape the corporate information environment in capital market settings: (1) managers' voluntary disclosure decisions, (2) disclosures mandated by regulators, and (3) reporting decisions by analysts. We conclude that, in the last ten years, research has generated sev...
• Sarbanes-Oxley and corporate risk-taking AI翻译
  作者：Bargeron, Leonce L.; Lehn, Kenneth M.; Zutter, Chad J.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
  摘要：We empirically examine whether risk-taking by publicly traded US companies declined significantly after adoption of the Sarbanes-Oxley Act of 2002 (SOX). Several provisions of SOX are likely to discourage risk-taking, including an expanded role for independent directors, an increase in director and officer liability, and rules related to internal controls. We find several Measures of risk-taking decline significantly for US versus non-US firms after SOX. The magnitudes of the declines are rela...
• Discussion of: Acquisition profitability and timely loss recognition by J. Francis and X. Martin AI翻译
  作者：Roychowdhury, Sugata
  作者单位：Massachusetts Institute of Technology (MIT)
  摘要：Francis and Martin (2009) test whether accounting conservatism induces managers to make better acquisition decisions. This discussion highlights three main issues. First, the hypothesized links between conservatism and future investments are potentially incomplete. In particular, the possibility that conservatism can have dysfunctional outcomes if acquisition decisions are based on anticipated earnings effects is ignored. Second, the evidence is insufficient to infer a causal relation between ...
• Book-tax conformity, earnings persistence and the association between earnings and future cash flows AI翻译
  作者：Atwood, T. J.; Drake, Michael S.; Myers, Linda A.
  作者单位：University of Arkansas System; University of Arkansas Fayetteville; State University System of Florida; Florida State University; University System of Ohio; Ohio State University
  摘要：Calls for eliminating differences between accounting earnings and taxable income in the US have been debated extensively. Proponents of increased book-tax conformity argue that tax compliance will increase and earnings quality will improve. Opponents argue that earnings quality will decline. We examine whether the level of required book-tax conformity affects earnings persistence and the association between earnings and future cash flows. We develop a comprehensive book-tax conformity measure ...
• Auditing the auditors: Evidence on the recent reforms to the external monitoring of audit firms AI翻译
  作者：Lennox, Clive; Pittman, Jeffrey
  作者单位：Nanyang Technological University; Memorial University Newfoundland
  摘要：This paper analyzes audit firm Supervision since the Public Company Accounting Oversight Board (PCAOB) began conducting inspections. First, we find that audit clients do not perceive that the PCAOB's inspection reports are Valuable for signaling audit quality. Second, we document that the information content of peer review reports fell after they became narrower in scope with the initiation of PCAOB inspections. Third, we isolate that the signaling role of peer review reports mainly stems from...
• How should the auditors be audited? Comparing the PCAOB Inspections with the AICPA Peer Reviews AI翻译
  作者：DeFond, Mark L.
  作者单位：University of Southern California
  摘要：In their investigation of the new PCAOB Inspections, Lennox and Pittman [Lennox, C., Pittman, J., 2009. Auditing the auditors: evidence on the recent reforms to the external monitoring of the audit firms. Journal of Accounting and Economics, forthcoming] address one of the most important and controversial features of the recent shift from self-regulation to government regulation in the US audit markets. In this paper 1 attempt to place their investigations into the broader auditing and regulat...
• Understanding earnings quality: A review of the proxies, their determinants and their consequences AI翻译
  作者：Dechow, Patricia; Ge, Weili; Schrand, Catherine
  作者单位：University of Pennsylvania; University of California System; University of California Berkeley; University of Washington; University of Washington Seattle
  摘要：Researchers have used various measures as indications of earnings quality including persistence, accruals, smoothness, timeliness, loss avoidance, investor responsiveness, and external indicators such as restatements and SEC enforcement releases. For each measure, we discuss causes of variation in the measure as well as consequences. We reach no single conclusion on what earnings quality is because quality is contingent on the decision context. We also point out that the quality of earnings is...
• Will a departure from tax-based accounting encourage tax noncompliance? Archival evidence from a transition economy AI翻译
  作者：Chan, K. Hung; Lin, Kenny Z.; Mo, Phyllis L. L.
  作者单位：Lingnan University
  摘要：We investigate whether a departure from a tax-based accounting system toward the adoption of International Financial Reporting Standards encourages tax noncompliance. We also examine whether such a departure, which weakens book-tax conformity, affects the informativeness of book-tax differences for tax noncompliance. Our evidence suggests that as book-tax conformity decreases, tax noncompliance increases. Although book-tax differences remain informative of tax noncompliance, the informativenes...
• Acquisition profitability and timely loss recognition AI翻译
  作者：Francis, Jere R.; Martin, Xiumin
  作者单位：Washington University (WUSTL); University of Missouri System; University of Missouri Columbia
  摘要：We investigate if timely loss recognition is associated With acquisition-investment decisions. Using a Basu (1997) piece-wise linear regression model, we find that firms with more timely incorporation of economic losses into earnings make more profitable acquisitions, measured by the bidder's announcement returns and by changes in post-acquisition operating performance. These firms are also less likely to make post-acquisition divestitures (consistent with better ex ante investment decisions),...
• The role of information and financial reporting in corporate governance and debt contracting AI翻译
  作者：Armstrong, Christopher S.; Guay, Wayne R.; Weber, Joseph P.
  作者单位：University of Pennsylvania; Massachusetts Institute of Technology (MIT)
  摘要：We review recent literature on the role of financial reporting transparency in reducing governance-related agency conflicts among managers, directors, and shareholders, as well as in reducing agency conflicts between shareholders and creditors, and offer researchers some suggested avenues for future research. Key themes include the endogenous nature of debt contracts and governance mechanisms with respect to information asymmetry between contracting parties, the heterogeneous nature of the inf...