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作者：Madsen, Paul E.
作者单位：State University System of Florida; University of Florida
摘要：There is disagreement in the accounting community about what level of standardization would be efficient for accounting. Many of the known costs and benefits of standardization have gone unmeasured and, as a result, there have been no efforts to quantitatively identify an efficient level of accounting standardization. Without guidance from researchers, the level of accounting standardization is set according to the intuition of standard-setters. Using data on a large cross-section of occupatio...
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作者：Phua, Yee Shih; Abernethy, Margaret A.; Lillis, Anne M.
作者单位：University of New South Wales Sydney; University of Melbourne
摘要：This study explores how initial control choice influences the ease with which outsourcing firms switch suppliers. We recognize that firms invest in controls to manage collaborative relationships, and argue that these investments generate switching costs, namely, opportunity and reinvestment costs. We collect data on outsourcing transactions by conducting semi-structured interviews across multiple field sites. Observed patterns across 53 cases show that firms with trust-based controls experienc...
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作者：Kimbrough, Michael D.; Louis, Henock
作者单位：University System of Maryland; University of Maryland College Park; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We find that bidders are more likely to hold conference calls at merger announcements when the mergers are financed with stock and when the transactions are large. After controlling for endogeneity, we also find that conference calls are associated with more favorable market reactions to merger announcements. A content analysis of merger-related information releases for a limited subsample indicates that the more favorable reaction is related to the fact that, compared to press releases, confe...
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作者：Anantharaman, Divya; Zhang, Yuan
作者单位：Rutgers University System; Rutgers University Newark; Rutgers University New Brunswick; Columbia University
摘要：We show that managers increase the volume of public financial guidance in response to decreases in analyst coverage of their firms, particularly to decreases that are driven by exogenous reduction in brokerage firm size. Managers do not respond to increases in analyst coverage. The managerial guidance response to decreases in coverage reflects the trade-off between the marginal benefits from analyst coverage and the marginal costs of providing guidance. Specifically, the response is concentrat...
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作者：Eldenburg, Leslie G.; Gunny, Katherine A.; Hee, Kevin W.; Soderstrom, Naomi
作者单位：University of Arizona; University of Colorado System; University of Colorado Boulder; California State University System; San Diego State University
摘要：We extend the literature on earnings management through real operating decisions by providing insight into the types of expenditures (core versus noncore and operating versus non-operating activities) affected by earnings management. We partition a sample of California nonprofit hospitals based on their earnings management incentives. We find that expenditures on non-operating and non-revenue-generating activities appear to decrease in hospitals with incentives to engage in such behavior, whil...
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作者：Carter, Mary Ellen
作者单位：Boston College
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作者：Cheng, Mei; Dhaliwal, Dan S.; Neamtiu, Monica
作者单位：University of Arizona; Korea University
摘要：In this study, we examine some of the consequences of asset securitization. Specifically, using a sample of bank holding companies, we investigate whether the difficulty in assessing the true extent of risk transfer, between securitizing banks and investors in asset-backed securities, affects bank information uncertainty. We find that when market participants have a greater difficulty in estimating risk transfer, banks face greater information uncertainty (i. e., larger bid-ask spreads and ana...
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作者：Kim, Jeong-Bon; Song, Byron Y.; Zhang, Liandong
作者单位：City University of Hong Kong; Concordia University - Canada
摘要：Using a sample of borrowing firms that disclosed internal control weaknesses (ICW) under Section 404 of the Sarbanes-Oxley Act, this study compares various features of loan contracts between firms with ICW and those without ICW. Our results show the following. First, the loan spread is higher for ICW firms than for non-ICW firms by about 28 basis points, after controlling for other known determinants of loan contract terms. Second, firms with more severe, company-level ICW pay significantly hi...
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作者：Beyer, Anne; Guttman, Ilan
作者单位：Stanford University
摘要：This study models the interaction between a sell-side analyst and risk-averse investors. It derives an analyst's optimal earnings forecast and investors' optimal trading decisions in a setting where the analyst's payoff depends on the trading volume the forecast generates as well as on the forecast error. In the fully separating equilibrium, we find that the analyst biases the forecast upward (downward) if his private signal reveals relatively good (bad) news. The model predicts that: (1) the ...
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作者：Boulton, Thomas J.; Smart, Scott B.; Zutter, Chad J.
作者单位：University System of Ohio; Miami University; Indiana University System; Indiana University Bloomington; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：This study examines the impact of country-level earnings quality on IPO underpricing. Examining 10,783 IPOs from 37 countries, we find that IPOs are underpriced less in countries where public firms produce higher quality earnings information. This finding persists after controlling for other deal-and country-specific factors that affect IPO underpricing, and it is driven neither by the large and relatively transparent markets in the U. S. and U. K. nor by the relatively opaque Japanese market....
