Journal of Accounting and Economics

最新文章

• Mitigating risk-shifting in corporate pension plans: Evidence from stakeholder constituency statutes AI翻译
  作者：Garman, Amy D.; Kubick, Thomas R.
  作者单位：Kansas State University; University of Nebraska System; University of Nebraska Lincoln
  摘要：We use staggered enactments of state stakeholder constituency laws as a natural experiment to examine the effect of such laws on corporate pension risk shifting. Our analysis encompasses three components of pension risk shifting: funding risk, investment risk, and benefit risk. We observe a reduction in all three elements of pension risk shifting following the enactment of stakeholder orientation laws that promote greater consideration of stakeholder interests. We also find that the post-enact...
• Does taxpayer assistance encourage entrepreneurship? AI翻译
  作者：Armstrong, Daphne M.; Glaeser, Stephen
  作者单位：University of Michigan System; University of Michigan; University of North Carolina; University of North Carolina Chapel Hill
  摘要：We examine whether taxpayer assistance with tax filing and compliance affects entrepreneurship. Taxpayer Assistance Centers help taxpayers, including entrepreneurs, to correctly file their taxes and navigate the tax system. We find that Taxpayer Assistance Centers positively associate with local entrepreneur entry and with overall Schedule C business income levels. We conclude that taxpayer assistance encourages traditional business entrepreneurship by reducing compliance costs that stem from ...
• Audit centralization and audit quality: Evidence from Chinese cities AI翻译
  作者：Chu, Jian; Fisman, Raymond; Wang, Yongxiang; Ye, Maoliang
  作者单位：Nanjing University; Boston University; Shanghai Jiao Tong University; Southern University of Science & Technology
  摘要：Audit design invokes a tradeoff between a monitor's local knowledge and their independence from influence. We study this tradeoff in the context of a pilot program in six Chinese provinces in 2016, in which provincial governments were given control over budgeting and personnel decisions for city audits. Using a difference-in-differences framework we show that, compared to non-pilot provinces, centralization increases detection of suspicious expenditures by over 50%. These improvements occur al...
• Real effects of lagged guidance from prudential regulators on CECL AI翻译
  作者：Basu, Riddha; Roychowdhury, Sugata; Sinha, Kirti
  作者单位：George Washington University; Northwestern University; University of Texas System; University of Texas Dallas
  摘要：We examine the impact of lagged guidance from prudential regulators on new accounting standards in the context of the Current Expected Credit Loss (CECL) standard. We refer to the period following CECL's 2016 pronouncement but prior to the 2018 guidance from prudential banking regulators on the standard as the lagged guidance (LG) period. We find that during the LG period, banks reduce loan amounts and increase loan spreads for affected loans (Term Loan As, or TLAs) relative to unaffected loan...
• Equity-based compensation and the timing of share repurchases: the role of the corporate calendar AI翻译
  作者：Dittmann, Ingolf; Li, Amy Yazhu; Obernberger, Stefan; Zheng, Jiaqi (Jacky)
  作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; The Chinese University of Hong Kong, Shenzhen; Peking University; Peking University Shenzhen Graduate School (PKU Shenzhen)
  摘要：We examine whether CEOs use share repurchases to sell their equity at inflated prices. We document that share repurchases, like equity-based compensation, are affected by the corporate calendar-the firm's schedule of earnings announcements and insider trading restrictions. The corporate calendar can fully explain why share repurchases and equity-based compensation coincide. The alignment with the corporate calendar is stricter in firms with strong internal governance or high external monitorin...
• Carbon accounting quality: Measurement and the role of assurance AI翻译
  作者：Gipper, Brandon; Sequeira, Fiona; Shi, Shawn X.
  作者单位：University of Notre Dame; Stanford University; University of Washington; University of Washington Seattle
  摘要：We examine whether external assurance improves the quality of firms' carbon accounting. We develop a measure of carbon accounting quality based on the deviation of reported emissions from a model-based expected level and supplement it with two survey-based measures. We show that assurance is associated with higher carbon accounting quality. This association is stronger when firms have weaker pre-existing carbon accounting systems and when assurance is more thorough. Consistent with assurance e...
• Paying your fair share: Perceived fairness and tax compliance AI翻译
  作者：Nathan, Brad; Perez-Truglia, Ricardo; Zentner, Alejandro
  作者单位：Rutgers University System; Rutgers University New Brunswick; University of California System; University of California Los Angeles; University of Texas System; University of Texas Dallas
  摘要：We provide evidence on the role of perceived fairness in tax compliance. Are households more willing to pay taxes when they believe others contribute their fair share? We investigate this question with a natural field experiment in the context of U.S. property taxes. Using an information-disclosure experiment, we exogenously shifted households' perceptions of the average tax rate paid by others. We find that higher perceived average tax rates increase perceptions of fairness and reduce the lik...
• Editorial data AI翻译
  作者：Blankespoor, Elizabeth; deHaan, Ed; Guay, Wayne; Lang, Mark; Shroff, Nemit; Smith, Kevin; Wu, Joanna
• Seasonal variation in cash flows and the timing role of accruals AI翻译
  作者：Kapons, Martin; Veenman, David
  作者单位：INSEAD Business School; University of Amsterdam
  摘要：This paper examines the function of accruals in measuring quarterly firm performance. We show that operating accruals play a pronounced role in offsetting quarterly cash flow fluctuations and that this timing role is much stronger than concluded based on annual measurements in the recent literature. A fundamental driver of this timing role of accruals is the significant seasonal variation in operating cash flows, which is determined by the interaction between sales seasonality and working capi...
• Do auditors understand the implications of ESG issues for their audits? Evidence from financially material negative ESG incidents AI翻译
  作者：Aobdia, Daniel; Yoon, Aaron
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Northwestern University
  摘要：We exploit a unique dataset to examine how auditors integrate financially material environmental, social, and governance (ESG) issues into their audits, particularly following the introduction of the Sustainability Accounting Standards Board (SASB) and the 2013 Committee of Sponsoring Organizations (COSO) frameworks, which highlighted the link between ESG and clients' internal control over financial reporting (ICFR). We find that auditors exhibit excessive optimism when evaluating ICFR effecti...