Review of Accounting Studies

最新文章

• Classification shifting using income-decreasing special items: measurement and valuation issues AI翻译
  作者：Abdalla, Ahmed M. M.; Clubb, Colin D. B.
  作者单位：Monash University; University of London; King's College London
  摘要：Research suggests that the standard model used to detect opportunistic shifting of core expenses to special items is potentially biased. Such bias has been attributed to the use of accruals, including special item related accruals, as a control for the impact of performance on core earnings in this model. This paper provides an improved classification shifting model which both tests for such accruals-related bias and controls for other sources of error in the measurement of shifting. The paper...
• The risk-relevance of non-GAAP earnings (Nov, 10.1007/s11142-022-09725-w, 2022) AI翻译
  作者：Heflin, Frank; Kolev, Kalin S. S.; Whipple, Benjamin
  作者单位：University System of Georgia; University of Georgia; City University of New York (CUNY) System; Baruch College (CUNY)
• The monitoring role of social media AI翻译
  作者：Heese, Jonas; Pacelli, Joseph
  作者单位：Harvard University
  摘要：We examine whether social media activity can reduce corporate misconduct. We use the staggered introduction of 3G mobile broadband access across the United States to identify exogenous increases in social media activity and test whether access to 3G reduces misconduct. We find that facilities substantially reduce both violations and penalties following the introduction of 3G in a local area. To validate social media activity as the mechanism, we show that 3G access results in sharp increases i...
• The risk-relevance of non-GAAP earnings AI翻译
  作者：Heflin, Frank; Kolev, Kalin S.; Whipple, Benjamin
  作者单位：University System of Georgia; University of Georgia; City University of New York (CUNY) System; Baruch College (CUNY)
  摘要：We study the risk-relevance of non-GAAP earnings. Risk is an important earnings attribute in valuation models, and the FASB's conceptual framework identifies providing information about risk as a primary objective for earnings. Although prior research addresses the value-relevance of non-GAAP earnings, researchers have paid little attention to their risk-relevance. We find that non-GAAP adjustments yield an earnings number that isolates the more risk-relevant components of earnings. Excluded e...
• Bridging the gap between stock price and bottom-line accounting numbers AI翻译
  作者：Peng, Zihang; Wang, Pengguo; Christodoulou, Demetris
  作者单位：University of New South Wales Sydney; University of Exeter; University of Sydney
  摘要：We develop a method for extracting other information from the articulation between bottom-line accounting numbers and stock prices. We posit that other information captures future earnings growth originating from conservative accounting recognition principles as demonstrated by Penman and Zhang (2020) and Penman and Zhu (2022), as well as nonzero net present value investment opportunities. Our findings confirm that other information is strongly associated with various proxies for expected futu...
• Activist directors: determinants and consequences AI翻译
  作者：Gow, Ian D.; Shin, Sa-Pyung Sean; Srinivasan, Suraj
  作者单位：University of Melbourne; National University of Singapore; Harvard University
  摘要：This paper examines determinants and consequences of hedge fund activism, focusing on activist directors, i.e., directors appointed in response to activist demands. Using a sample of 3,259 activism events from 2004 to 2016, we identify 1,623 activist directors. Compared to other newly appointed directors, these activist directors tend to be younger, more likely to have finance and accounting skills, and less likely to be female. We find that the likelihood of acquiring board representation is ...
• Measuring weather exposure with annual reports AI翻译
  作者：Nagar, Venky; Schoenfeld, Jordan
  作者单位：University of Michigan System; University of Michigan; Utah System of Higher Education; University of Utah
  摘要：The FASB and IFRS Foundation's International Sustainability Standards Board have called for measuring individual firms' exposure to weather, a fundamentally amorphous concept, as a first step toward quantifying the impact of environmental factors on financial reporting. This study builds a large-scale measure of individual firm exposure to weather using linguistic analysis of annual reports. Preliminary analyses suggest that weather is a determinant of our measure: e.g., the measure increases ...
• Boardroom gender diversity reforms and institutional monitoring: global evidence AI翻译
  作者：Fauver, Larry; Hung, Mingyi; Taboada, Alvaro G.; Wang, Emily Jing
  作者单位：University of Tennessee System; University of Tennessee Knoxville; Hong Kong University of Science & Technology; Mississippi State University
  摘要：We examine how boardroom gender diversity reforms impact the monitoring role of institutional investors. Using reforms from 25 countries that aim to improve gender diversity on boards, we find that the reforms increase the association between institutional ownership and subsequent female directorships for foreign investors, but not for domestic investors. This result is driven by foreign institutional investors from countries with a high social equity norm and by foreign pension funds and inde...
• Voluntary disclosures by activist investors: the role of activist expectations AI翻译
  作者：McDonough, Ryan; Nagar, Venky; Schoenfeld, Jordan
  作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark; University of Michigan System; University of Michigan; University System of Ohio; Ohio State University
  摘要：Activist investors in a firm often voluntarily release information about their governance intentions to the public. Voluntary disclosure theory suggests that an activist investor will disclose when she expects other investors to respond positively and support her in upcoming corporate control contests. We find that activists' disclosures are accompanied by positive abnormal returns, reductions in bid-ask spreads, and increases in future earnings relative to similar targets without voluntary ac...
• The Review of Accounting Studies at age 25: a retrospective using bibliometric analysis AI翻译
  作者：Baker, H. Kent; Kumar, Satish; Pandey, Nitesh; Srivastava, Anup
  作者单位：American University; National Institute of Technology (NIT System); Malaviya National Institute of Technology Jaipur; Swinburne University of Technology; Swinburne University of Technology Sarawak; University of Calgary
  摘要：The Review of Accounting Studies (RAST) recently completed 25 years of publication. We provide a descriptive analysis of RAST's characteristics that should interest the stakeholders who have been part of the journal's evolution. We benchmark RAST's characteristics against the other top accounting journals: Journal of Accounting and Economics, Journal of Accounting Research, the Accounting Review, and Contemporary Accounting Research. We provide information on RAST's most prominent subject matt...