Journal of Accounting Research

最新文章

• The Relation Between Reporting Quality and Financing and Investment: Evidence from Changes in Financing Capacity AI翻译
  作者：Balakrishnan, Karthik; Core, John E.; Verdi, Rodrigo S.
  作者单位：University of Pennsylvania; Massachusetts Institute of Technology (MIT)
• Why Do Countries Mandate Accrual Accounting for Tax Purposes? AI翻译
  作者：Goncharov, Igor; Jacob, Martin
  作者单位：Lancaster University; WHU - Otto Beisheim School of Management
  摘要：This study investigates why countries mandate accruals in the definition of corporate taxable income. Accruals alleviate timing and matching problems in cash flows, which smoothes taxable income and thus better aligns it with underlying economic performance. These accrual properties can be desirable in the tax setting as tax authorities seek more predictable corporate tax revenues. However, they can also make tax revenues procyclical by increasing the correlation between aggregate corporate ta...
• Did Regulation Fair Disclosure, SOX, and Other Analyst Regulations Reduce Security Mispricing? AI翻译
  作者：Lee, Edward; Strong, Norman; Zhu, Zhenmei (Judy)
  作者单位：University of Manchester; Fudan University
  摘要：Between 2000 and 2003 a series of disclosure and analyst regulations curbing abusive financial reporting and analyst behavior were enacted to strengthen the information environment of U.S. capital markets. We investigate whether these regulations reduced security mispricing and increased stock market efficiency. After the regulations, we find a significant reduction in short-term stock price continuation following analyst forecast revisions and earnings announcements. The effect was more prono...
• The Effects of Public Information with Asymmetrically Informed Short-Horizon Investors AI翻译
  作者：Chen, Qi; Huang, Zeqiong; Zhang, Yun
  作者单位：Duke University; George Washington University
  摘要：This paper analyzes the effects of public information in a perfect competition trading model populated by asymmetrically informed short-horizon investors with different levels of private information precision. We first show that information asymmetry reduces the amount of private information revealed by price in equilibrium (i.e., price informativeness) and can lead to multiple linear equilibria. We then demonstrate that the presence of both information asymmetry and short horizons provides a ...
• Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-Listings AI翻译
  作者：Iliev, Peter; Miller, Darius P.; Roth, Lukas
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Southern Methodist University; University of Alberta
  摘要：We study the economic consequences of a recent Securities and Exchange Commission securities regulation change that grants foreign firms trading on the U.S. over-the-counter (OTC) market an automatic exemption from the reporting requirements of the 1934 Securities Act. We document that the number of voluntary (sponsored) OTC cross-listings did not increase following the regulation change, suggesting that it did not achieve its intended purpose of increasing voluntary OTC cross-listings through...
• The Effects of Uncertainty and Disclosure on Auditors' Fair Value Materiality Decisions AI翻译
  作者：Griffin, Jeremy B.
  作者单位：University of Notre Dame
  摘要：Financial accounting standards increasingly require fair value measurements. I experimentally examine how uncertainty affects auditors' adjustment decisions when evaluating fair values. I manipulate two types of uncertainty, input subjectivity and outcome imprecision, and one reporting choice, supplemental disclosure. I find that auditors are most likely to require adjustments when fair values contain both more input subjectivity and more outcome imprecision, but that this likelihood diminishe...
• Aggregate Earnings and Corporate Bond Markets AI翻译
  作者：Gkougkousi, Xanthi
• Economic Determinants and Information Environment Effects of Earnouts: New Insights from SFAS 141(R) AI翻译
  作者：Cadman, Brian; Carrizosa, Richard; Faurel, Lucile
  作者单位：Utah System of Higher Education; University of Utah
• When the Use of Positive Language Backfires: The Joint Effect of Tone, Readability, and Investor Sophistication on Earnings Judgments AI翻译
  作者：Tan, Hun-Tong; Wang, Elaine Ying; Zhou, Bo
  作者单位：Nanyang Technological University; University of Massachusetts System; University of Massachusetts Amherst; Shanghai University of Finance & Economics
• Do Joint Audits Improve or Impair Audit Quality? AI翻译
  作者：Deng, Mingcherng; Lu, Tong; Simunic, Dan A.; Ye, Minlei
  作者单位：University of Houston System; University of Houston; University of British Columbia; University of Toronto
  摘要：Conventional wisdom holds that joint audits would improve audit quality by enhancing audit evidence precision because Two heads are better than one. Our paper challenges this wisdom. We show that joint audits by one big firm and one small firm may impair audit quality, because, in that situation, joint audits induce a free-riding problem between audit firms and reduce audit evidence precision. We further derive a set of empirically testable predictions comparing audit evidence precision and au...