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作者：Zang, Amy Y.
作者单位：Hong Kong University of Science & Technology
摘要：I study whether managers use real activities manipulation and accrual-based earnings management as substitutes in managing earnings. I find that managers trade off the two earnings management methods based on their relative costs and that managers adjust the level of accrual-based earnings management according to the level of real activities manipulation realized. Using an empirical model that incorporates the costs associated with the two earnings management methods and captures managers' seq...
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作者：Skinner, Douglas J.; Srinivasan, Suraj
作者单位：University of Chicago; Harvard University
摘要：We study events surrounding ChuoAoyama's failed audit of Kanebo, a large Japanese cosmetics company whose management engaged in a massive accounting fraud. ChuoAoyama was PwC's Japanese affiliate and one of Japan's largest audit firms. In May 2006, the Japanese Financial Services Agency (FSA) suspended ChuoAoyama for two months for its role in the Kanebo fraud. This unprecedented action followed a series of events that seriously damaged ChuoAoyama's reputation. We use these events to provide e...
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作者：Ogneva, Maria
作者单位：Stanford University
摘要：This paper develops a simple methodology based on the earnings response coefficient framework that allows decomposing realized returns into cash flow shocks and returns excluding cash flow shocks. I find that stocks with poor (good) accrual quality were on average subject to relatively lower (higher) cash flow shocks over the past 37 years. These lower (higher) cash flow shocks offset the higher (lower) expected returns of poor (good) accrual quality firms. After excluding cash flow shocks, fu...
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作者：Moser, Donald V.; Martin, Patrick R.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
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作者：Schloetzer, Jason D.
作者单位：Georgetown University
摘要：This study examines whether the potential for hold-up in supply chains influences the extent of process integration and information sharing between partners. The analysis uses performance scorecards and financial performance data collected from a major manufacturer regarding its contractual arrangements with 156 distributors. I find that distributors engage in less extensive process integration and information sharing with the manufacturer as the potential for hold-up increases, measured by th...
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作者：Daske, Holger
作者单位：University of Mannheim
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作者：Shanthikumar, Devin M.
作者单位：University of California System; University of California Irvine
摘要：Prior research demonstrates that investors respond differently to earnings surprises that are part of a string of consecutive earnings increases or surprises than to those that are not. To shed light on who values these patterns, I compare trading responses of small and large traders to earnings surprises that occur during a series of positive or negative surprises. I find that the relative intensity of small traders' trading response (and, to a lesser extent, that of medium traders) to earnin...
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作者：Camfferman, Kees
作者单位：Vrije Universiteit Amsterdam
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作者：Lennox, Clive S.; Francis, Jere R.; Wang, Zitian
作者单位：Nanyang Technological University; University of Missouri System; University of Missouri Columbia
摘要：This study explains the challenges associated with the Heckman (1979) procedure to control for selection bias, assesses the quality of its application in accounting research, and offers guidance for better implementation of selection models. A survey of 75 recent accounting articles in leading journals reveals that many researchers implement the technique in a mechanical way with relatively little appreciation of important econometric issues and problems surrounding its use. Using empirical ex...
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作者：Hales, Jeffrey W.; Venkataraman, Shankar; Wilks, T. Jeffrey
作者单位：University System of Georgia; Georgia Institute of Technology; Brigham Young University
摘要：This study examines the informational effects of unit of account choices in the context of a proposed standard on lease accounting. Standard-setters have tentatively decided that leases in excess of one year should be recognized on a lessee's balance sheet, including optional lease periods, even though the lessee can choose not to renew the lease. We argue that this approach lacks representational faithfulness and creates an informational problem for users. Using an experiment, we show that th...
