Journal of Accounting Research

最新文章

• Discussion of ADRs, analysts, and accuracy: Does cross-listing in the United States improve a firm's information environment and increase market value? AI翻译
  作者：Leuz, C
  作者单位：University of Pennsylvania
  摘要：Lang, Lins, and Miller [2002] investigate the relation between cross-listing in the United States and information intermediation by analysts. The results suggest that cross-listing in the United States increases analyst following and forecast accuracy and that both variables are associated with Tobin's Q. These findings are interesting and advance the cross-listing literature in several ways. This discussion raises two issues. First, I highlight that the sources of cross-listing effects are no...
• The impact of SFAS no. 131 on information and monitoring AI翻译
  作者：Berger, PG; Hann, R
  作者单位：University of Chicago; University of Southern California
  摘要：We investigate the effect of the Financial Accounting Standards Board's (FASB) new segment reporting standard on the information and monitoring environment. We compare hand-collected, restated SFAS 131 segment data for the final SFAS 14 fiscal year with the historical SFAS 14 data. We find that SFAS 131 increased the number of reported segments and provided more disaggregated information. Analysts and the market had access to a portion of the new segment information before it was made public, ...
• Can stock recommendations predict earnings management and analysts' earnings forecast errors? AI翻译
  作者：Abarbanell, J; Lehavy, R
  作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Michigan System; University of Michigan
  摘要：In this article we present evidence that a firm's stock price sensitivity to earnings news, as measured by outstanding stock recommendation, affects its incentives to manage earnings and, in turn, affects analysts' ex post forecast errors. In particular, we find a tendency for firms rated a Sell (Buy) to engage more (less) frequently in extreme, income-decreasing earnings management, indicating that they have relatively stronger (weaker), incentives to create accounting reserves especially in ...
• The relation between insider-trading restrictions and executive compensation AI翻译
  作者：Roulstone, DT
  作者单位：University of Chicago
  摘要：In this study I investigate the relation between firm-level insider-trading restrictions and executive compensation. Using a trading-window proxy for the existence of such restrictions, I test predictions that insiders will demand compensation for these restrictions and that firms will need to increase incentives to restricted insiders. I find that firms that restrict insider trading pay a premium in total compensation relative to firms not restricting insider trading, after controlling for ec...
• Disclosure practices, enforcement of accounting standards, and analysts' forecast accuracy: An international study AI翻译
  作者：Hope, OK
  作者单位：University of Toronto
  摘要：Using a sample from 22 countries, I investigate the relations between the accuracy of analysts' earnings forecasts and the level of annual report disclosure, and between forecast accuracy and the degree of enforcement of accounting standards. I document that firm-level disclosures are positively related to forecast accuracy, suggesting that such disclosures provide useful information to analysts. I construct a comprehensive measure of enforcement and find that strong enforcement is associated ...
• Discussion of the impact of SFAS no. 131 on information and monitoring AI翻译
  作者：Piotroski, JD
  作者单位：University of Chicago
• Discussion of disclosure practices, enforcement of accounting standards, and analysts' forecast accuracy: An international study AI翻译
  作者：Pope, PF
  作者单位：Lancaster University
• Confirming management earnings forecasts, earnings uncertainty, and stock returns AI翻译
  作者：Clement, M; Frankel, R; Miller, J
  作者单位：University of Texas System; University of Texas Austin; Massachusetts Institute of Technology (MIT); University of Notre Dame
  摘要：In this study we examine the association among confirming management forecasts, stock prices, and analyst expectations. Confirming management forecasts are voluntary disclosures by management that corroborate existing market expectations about future earnings. This study provides evidence that these voluntary disclosures affect stock prices and the dispersion of analyst expectations. Specifically, we find that the market's reaction to confirming forecasts is significantly positive, indicating ...
• The value relevance of network advantages: The case of e-commerce firms AI翻译
  作者：Rajgopal, S; Venkatachalam, M; Kotha, S
  作者单位：Duke University; University of Washington; University of Washington Seattle
  摘要：We show that network advantages constitute an important intangible asset that goes unrecognized in the financial statements. For a sample of e-commerce firms, we find that network advantages created by Web site traffic have substantial explanatory power for stock prices over and above traditional summary accounting measures such as earnings and book value of equity. Also, network advantages are positively associated with one-year-ahead and two-year-ahead earnings forecasts provided by equity a...
• Evidence on the joint determination of audit and non-audit fees AI翻译
  作者：Whisenant, S; Sankaraguruswamy, S; Raghunandan, K
  作者单位：University of Houston System; University of Houston; Georgetown University; State University System of Florida; Florida International University
  摘要：In this study we investigate whether the characteristics of clients, auditors, and the auditor-client relationship simultaneously determine audit and non-audit fees. As done in prior studies, we maintain that fees proxy for the level of service provided and follow the physical flow of knowledge. Estimating single-equation models of audit and non-audit fee models, we confirm prior findings of an association between audit and non-audit fees. Studies conclude that such evidence is consistent with...