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作者：Verrecchia, RE
作者单位：University of Pennsylvania
摘要：The purpose of this paper is two-fold. First, I attempt a taxonomy of the extant accounting literature on disclosure: that is, a categorization of the various models of disclosure in the literature into well-integrated topics. With regard to the taxonomy, I suggest three broad categories of disclosure research in accounting. The first category, which I dub association-based disclosure, is work that studies the effect of exogenous disclosure on the cumulative change or disruption in investors' ...
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作者：Kothari, SP
作者单位：Massachusetts Institute of Technology (MIT)
摘要：I review empirical research on the relation between capital markets and financial statements. The principal sources of demand for capital markets research in accounting are fundamental analysis and valuation, tests of market efficiency, and the role of accounting numbers in contracts and the political process. The capital markets research topics of current interest to researchers include tests of market efficiency with respect to accounting information, fundamental analysis, and value relevanc...
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作者：Sloan, RG
作者单位：University of Michigan System; University of Michigan
摘要：Bushman and Smith (2001, this issue) provide a useful review of research on the role of accounting in management compensation contracts and an appealing future research agenda that builds on recent research using a cross-country approach. This paper rounds out their discussion by highlighting some limitations of their research agenda, providing a critical review of the contributions of accounting scholars to governance research and highlighting research opportunities on the role of financial a...
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作者：Bushman, RM; Smith, AJ
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Chicago
摘要：This paper reviews and proposes additional research concerning the role of publicly reported financial accounting information in the governance processes of corporations. We first discuss research on the use of financial accounting in managerial incentive plans and explore future research directions. We then propose that governance research be extended to explore more comprehensively the use of financial accounting information in additional corporate control mechanisms, and suggest opportuniti...
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作者：Shivakumar, L
作者单位：University of London; London Business School
摘要：I examine earnings management around seasoned equity offerings and, consistent with Rangan (J. Financial Econ. 50 (1998) 101) and Teoh et al. (J. Financial Econ. 50(1998) 63), find evidence of earnings management around the offerings. However, in contrast to their conclusions, I show that investors infer earnings management and rationally undo its effects at equity offering announcements. The investor naivete conclusion of Teoh ct al. (J. Financial Econ. 50(1998) 63) and Rangan (J. Financial E...
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作者：Cready, WM; Hurtt, DN; Seida, JA
作者单位：Louisiana State University System; Louisiana State University; Western Michigan University; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：Measurement error in unexpected earnings is recognized as a source of bias in examinations of the relation between earnings and returns. Reverse regression procedures are commonly used as a means of coping with this bias. This study examines the properties of reverse regression procedures in multi-interacted variable settings with a specific focus on the earnings response coefficient (ERC) analysis of Collins and Kothari (J. Account. Econom. 11 (1989) 143.). It shows that both conventional rev...
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作者：Seida, JA; Wempe, WF
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Washington University (WUSTL)
摘要：This paper examines individual investors' short- and long-term trading reactions to the 1986 Tax Reform Act's (TRA 86) capital gain tax rate increase. Consistent with a tax-induced trading model, we document a December 1986 change in year-end trading patterns. TRA 86 also had long-term effects on individual investors' trading decisions. The results suggest that individual investors were less (more) willing to sell accrued gain (loss) stocks after TRA 86. Our ability to document predicted tradi...
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作者：Murphy, KJ
作者单位：University of Southern California
摘要：Research in incentives has focused on performance measures and pay-performance sensitivities but has largely ignored the performance standard, which generates important incentives whenever plan participants can influence the standard-setting process. Internally determined standards are directly affected by management actions in the current or prior year, while externally determined standards are less easily affected. I show that companies choose external standards when prior performance is a n...
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作者：Reynolds, JK; Francis, JR
作者单位：University of Missouri System; University of Missouri Columbia; Louisiana State University System; Louisiana State University
摘要：Large clients create an economic dependence that may cause auditors to compromise their independence and report favorably to retain valuable clients. Economic dependence is measured as a client's size relative to the size of the office that contracts for the audit and issues the audit report. We find no evidence economic dependence causes Big Five auditors to report more favorably for larger clients in their offices. However, larger clients also pose greater litigation risk, and we do find tha...
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作者：Banker, RD; Lee, SY; Potter, G; Srinivasan, D
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Texas System; University of Texas Dallas; Sungshin Women's University; Cornell University
摘要：Performance improvements subsequent to the implementation of a pay-for-performance plan can result because more productive employees self-select into the firm (selection effect) and because employees allocate effort to become more effective (effort effect). We analyze individual performance data for 3,776 sales employees of a retail firm to evaluate these alternative sources of continuing performance improvement. The incentive plan helps the firm attract and retain more productive sales employ...
