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作者：Kadous, Kathryn; Magro, Anne M.; Spilker, Brian C.
作者单位：Emory University; George Mason University; Brigham Young University
摘要：Prior research indicates that audit and tax professionals' judgments are influenced by their client's preferences, both directly and indirectly (via information search). In an experiment with tax professionals as participants, we examine whether high practice risk (i.e., exposure to monetary and nonmonetary costs of making inappropriate recommendations) mitigates these effects. We find that, when facing a client with low practice risk, professionals' search is biased in a manner that leads jud...
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作者：Chen, Weitzu; Liu, Chi-Chun; Ryan, Stephen G.
作者单位：National Taiwan University; New York University
摘要：We hypothesize and provide evidence that characteristics of banks' loan securitizations accounted for as sales determine the extent to which banks retain the risks of the securitized loans. We show that banks retain more risk when: (1) the types of loans have higher and/or less externally verifiable credit risk, (2) the loans are closed-ended and banks retain larger contractual interests in the loans, and (3) the loans are closed-ended and banks retain types of contractual interests that more ...
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作者：Jackson, Scott B.
作者单位：University of South Carolina System; University of South Carolina Columbia
摘要：This study examines whether straight-line depreciation, relative to accelerated depreciation, causes non-executive managers to make non-value-maximizing capital investment decisions. To do this, I conduct experiments in which managers must decide whether to continue using an existing asset or invest in a replacement asset. By design, replacing the existing asset yields higher cash flows and managers are aware of this fact. However, if the asset is replaced, then the greater remaining book valu...
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作者：Zeff, Stephen A.
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作者：Cahan, Steven E.; Godfrey, Jayne M.; Hamilton, Jane; Jeter, Debra C.
作者单位：University of Auckland; Monash University; La Trobe University; Vanderbilt University
摘要：A report issued by the U.S. General Accounting Office (GAO) in 2003 identified auditors' industry expertise as a critical factor for firms choosing an auditor, and highlighted the extreme levels of auditor concentration in some industries. We posit that the investment opportunity set (IOS) plays a fundamental role in determining whether an industry is an attractive target for auditor specialization. When industry-specific IOS is high, specialist auditors make costly investments in industry-spe...
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作者：Barth, Mary E.
作者单位：Stanford University
摘要：This paper identifies challenges and opportunities created by global financial reporting for the education and research activities of U.S. academics. Relating to education, after overviewing the relation between global financial reporting and U.S. GAAP, it offers suggestions for topics to be covered in global financial reporting curricula and clarifies common misunderstandings about the concepts underlying financial reporting. Relating to research, it explains how and why research can provide ...
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作者：Bae, Kee-Hong; Tan, Hongping; Welker, Michael
作者单位：Queens University - Canada; University of Northern British Columbia
摘要：This paper investigates the relation between differences in accounting standards across countries and foreign analyst following and forecast accuracy. We develop two measures of differences in generally accepted accounting principles (GAAP) for 1,176 country-pairs. We then examine the impact of these measures of accounting differences on foreign analysts. In so doing, We utilize a unique database that identifies the location of financial analysts around the world, creating a sample that covers...
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作者：Behn, Bruce K.; Choi, Jong-Hag; Kang, Tony
作者单位：University of Tennessee System; University of Tennessee Knoxville; Seoul National University (SNU); State University System of Florida; Florida Atlantic University
摘要：Under the assumption that audit quality relates positively to unobservable financial reporting quality, we investigate whether audit quality is associated with the predictability of accounting earnings by focusing on analyst earnings forecast properties. The evidence shows that analysts' earnings forecast accuracy is higher and the forecast dispersion is smaller for firms audited by a Big 5 auditor We further find that auditor industry specialization is associated with higher forecast accuracy...
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作者：McNichols, Maureen F.; Stubben, Stephen R.
作者单位：Stanford University; University of North Carolina; University of North Carolina Chapel Hill
摘要：This paper examines whether firms manipulating their reported financial results make suboptimal investment decisions. We examine fixed asset investments for a large sample of public companies during the 1978-2002 period and document that firms that manipulate their earnings-firms investigated by the SEC for accounting irregularities, firms sued by their shareholders for improper accounting, and firms that restated financial statements-over-invest substantially during the misreporting period. F...
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作者：Liang, Pierre Jinghong; Rajan, Madhav V.; Ray, Korok
作者单位：Carnegie Mellon University; Stanford University; University of Chicago
摘要：We formulate and analyze a model of team structure and monitoring within a Linear-Exponential-Normal (LEN) agency framework. We incorporate three key instruments in the internal design of an organization involving team production: team size, monitoring activities, and incentive contracts. We show that the complex trade-offs among these instruments lead to surprisingly simple implications. One such result is that the equilibrium level of pay-for-performance for workers is attenuated and is, at ...
