Journal of Accounting and Economics

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• Factors related to internal control disclosure: A discussion of Ashbaugh, Collins, and Kinney (2007) and Doyle, Ge, and McVay (2007) AI翻译
  作者：Leone, Andrew J.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
  摘要：Ashbaugh, Collins, and Kinney, henceforth ACK, and Doyle, Ge, and McVay, henceforth DGM, provide the first evidence relating firm characteristics to internal control deficiencies (ICDs) reported under new disclosure requirements. Both studies document that control risk factors associated with organizational complexity and significant organizational change, as well as relative investment in internal control systems, are related to disclosure of internal control. ACK also test whether factors as...
• Economic consequences of the Sarbanes-Oxley Act of 2002 AI翻译
  作者：Zhang, Ivy Xiying
  作者单位：University of Minnesota System; University of Minnesota Twin Cities
  摘要：This paper investigates the economic consequences of the Sarbanes-Oxley Act (SOX) by examining market reactions to related legislative events. Using concurrent stock returns of non-U.S.-traded foreign firms to estimate normal U.S. returns, 1 find that U.S. firms experienced a statistically significant negative cumulative abnormal return around key SOX events. I then examine the crosssectional variation of U.S. firms' returns around these events. Regression results are consistent with the non-a...
• Accounting conservatism and board of director characteristics: An empirical analysis AI翻译
  作者：Ahmed, Anwer S.; Duellman, Scott
  作者单位：State University of New York (SUNY) System; Binghamton University, SUNY; Texas A&M University System; Texas A&M University College Station
  摘要：Using three different measures of conservatism, we document that (i) the percentage of inside directors is negatively related to conservatism, and (ii) the percentage of outside directors' shareholdings is positively related to conservatism. Our results hold after controlling for industry, firm size, leverage, growth opportunities, institutional ownership, inside director ownership, and unobservable firm characteristics that are stable over time. Overall, the evidence is consistent with accoun...
• The effect of reporting frequency on the timeliness of earnings: The cases of voluntary and mandatory interim reports AI翻译
  作者：Butler, Marty; Kraft, Arthur; Weiss, Ira S.
  作者单位：Emory University; University of London; London Business School; Columbia University; University of Chicago
  摘要：We examine whether financial reporting frequency affects the speed with which accounting information is reflected in security prices. For a sample of 28,824 reporting-frequency observations from 1950 to 1973, we find little evidence of differences in timeliness between firms reporting quarterly and those reporting semiannually, even after controlling for self-selection. However, firms that voluntarily increased reporting frequency from semiannual to quarterly experienced increased timeliness, ...
• The influence of large clients on office-level auditor oversight: Evidence from the property-casualty insurance industry AI翻译
  作者：Gaver, Jennifer J.; Paterson, Jeffrey S.
  作者单位：University System of Georgia; University of Georgia; State University System of Florida; Florida State University
  摘要：We analyze the loss-reserving practices of 562 insurance companies in 1993 to assess the relation between client influence and auditor oversight. Consistent with Petroni [1992. Management's response to the differential costs and benefits of optimistic reporting in the property-casualty insurance industry. Journal of Accounting and Economics 15, 485-508.], we find that financially struggling insurers tend to under-reserve. However, this behavior is attenuated when the weak insurer is important ...
• Discussion of Asymmetric timeliness of earnings, market-to-book and conservatism in financial reporting AI翻译
  作者：Beatty, Anne
  作者单位：University System of Ohio; Ohio State University
  摘要：Roychowdhury and Watts [2007. Asymmetric timeliness of earnings, market-to-book and conservatism in financial reporting. Journal of Accounting and Economics.] provide a thoughtprovoking discussion of an important topic and consider a controversial role of accounting inconsistent with the valuation perspective of accounting currently adopted by standard setters. The paper uses a contracts-based view of accounting to explain the empirical relation between two measures of conservatism, the market...
• Was the Sarbanes-Oxley Act of 2002 really this costly? A discussion of evidence from event returns and going-private decisions AI翻译
  作者：Leuz, Christian
  作者单位：University of Chicago
  摘要：This paper discusses evidence on the costs of the Sarbanes-Oxley Act (SOX) from stock returns and going-private decisions. Zhang, [2007. Economic consequences of the Sarbanes-Oxley Act of 2002. Journal of Accounting and Economics, doi:10.1016/j.jacceco.2006.07.0021 analyzes returns around legislative events and concludes that SOX imposes significant costs on firms. Engel, et al. [2007. The Sarbanes-Oxley Act and firms' going-private decisions. Journal of Accounting and Economics, doi:10.1016/j...
• Does earnings guidance affect market returns? The nature and information content of aggregate earnings guidance AI翻译
  作者：Anilowski, Carol; Feng, Mei; Skinner, Douglas J.
  作者单位：University of Chicago; Purdue University System; Purdue University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
  摘要：We investigate whether earnings guidance affects aggregate stock returns through its effects on expectations about overall earnings performance and/or aggregate expected returns. We find that aggregate guidance, especially relative levels of quarterly downward guidance, is associated with analyst- and time-series- based measures of aggregate earnings news. We find more modest evidence that guidance, again, largely downward guidance, is associated with market returns-market returns appear to re...
• Information technology, organizational design, and transfer pricing AI翻译
  作者：Dikolli, SS; Vaysman, I
  作者单位：INSEAD Business School; University of Texas System; University of Texas Austin
  摘要：We show how information technology affects transfer pricing. With coarse information technology, negotiated transfer pricing has an informational advantage: managers agree to prices that approximate the firm's cost of internal trade more precisely than cost-based transfer prices. With sufficiently rapid offers, this advantage outweighs opportunity costs of managers' bargaining time, and negotiated transfer pricing generates higher profits than the cost-based method. However, as information tec...
• Stock repurchases as an earnings management device AI翻译
  作者：Hribar, P; Jenkins, NT; Johnson, WB
  作者单位：Cornell University; Washington University (WUSTL); University of Iowa
  摘要：We investigate whether firms use stock repurchases to meet or beat analysts' earnings per share (EPS) forecasts. We identify conditions under which repurchases increase EPS and document the frequency of accretive repurchases from 1988 to 2001. We find a disproportionately large number of accretive stock repurchases among firms that would have missed analysts' forecasts without the repurchase. The repurchase-induced component of earnings surprises appears to be discounted by the market, and thi...