The Accounting Review

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• Investors' reactions to management guidance forms: The influence of multiple benchmarks AI翻译
  作者：Han, Jun; Tan, Hun-Tong
  作者单位：University of Hong Kong; Nanyang Technological University
  摘要：In this study, we investigate underlying mechanisms for the effects of management guidance forms on investors' judgments. We do so by comparing effects of point and range guidance with those associated with a hybrid management guidance form that combines the attributes of both point and range guidance. With respect to investors' earnings reestimates made after actual earnings announcements, we find that both the number and type of benchmarks associated with the guidance forms matter. High-know...
• Private earnings guidance and its implications for disclosure regulation AI翻译
  作者：Wang, Isabel Yanyan
  作者单位：Michigan State University
  摘要：This study investigates three related questions: (1) Why did some firms provide private earnings guidance to analysts before Regulation Fair Disclosure? (2) How did the exogenous shock of Regulation Fair Disclosure affect these firms' disclosure policies? (3) What are the economic consequences of this disclosure regulation? To address these questions, I develop a new measure of private earnings guidance. Consistent with theory, I find that firms were more likely to provide private earnings gui...
• Corporate governance, audit quality, and the Sarbanes-Oxley act: Evidence from internal audit outsourcing AI翻译
  作者：Abbott, Lawrence J.; Parker, Susan; Peters, Gary F.; Rama, Dasaratha V.
  作者单位：University of Memphis; Santa Clara University; University of Arkansas System; University of Arkansas Fayetteville; State University System of Florida; Florida International University
  摘要：This study extends current literature related to nonaudit services by investigating internal audit outsourcing to the external auditor. We posit that certain types of internal audit outsourcing (i.e., those which are nonroutine, and thus tend to be nonrecurring in nature) are unlikely to lead to economic bonding, while offering significant potential for improvements in audit coverage and scope when provided by the external auditor. Alternatively, outsourcing routine internal audit tasks is mor...
• Audit team brainstorming, fraud risk identification, and fraud risk assessment: Implications of SAS no. 99 AI翻译
  作者：Carpenter, Tina A.
  作者单位：University System of Georgia; University of Georgia
  摘要：SAS No. 99 requires brainstorming sessions on each audit to help auditors detect fraud. This study investigates audit team brainstorming sessions and the resulting fraud judgments. The psychology literature provides mixed results on the benefits of brainstorming. Results from my experiment suggest that while the overall number of ideas is reduced, brainstorming audit teams generate more quality fraud ideas than individual auditors generate before the brainstorming session. Further, audit teams...
• Information pursuit in financial statement analysis: Effects of choice, effort, and reconciliation AI翻译
  作者：Nelson, Mark W.; Tayler, William B.
  作者单位：Cornell University
  摘要：Prior research provides evidence that information affects financial statement users' judgments less when that information is provided in a less accessible format (e.g., information disclosed in a footnote or less prominent financial statement rather than being recognized on the income statement [Maines and McDaniel 2000]). We provide evidence that, conditional on users performing the analysis necessary to transform the financial statements to appear as if disclosed information had been recogni...
• Uniformity versus flexibility: Evidence from pricing of the pension obligation AI翻译
  作者：Hann, Rebecca N.; Lu, Yvonne Y.; Subramanyam, K. R.
  作者单位：University of Southern California
  摘要：We functionally derive the discretionary component of the pension obligation (PBO) based on deviation of actuarial assumptions-discount rate and compensation growth rate-from their respective industry medians. We then examine the implications of allowing discretion in the choice of pension assumptions on the pricing of the PBO. We find no evidence that discretion-as currently allowed under U.S. GAAP-impairs the value relevance of the PBO. We also find that the discretionary component is increm...
• When security analysts talk, who listens? AI翻译
  作者：Mikhail, Michael B.; Walther, Beverly R.; Willis, Richard H.
  作者单位：Arizona State University; Arizona State University-Tempe; Northwestern University; Vanderbilt University
  摘要：Regulators' interest in analyst reports stems from the belief that small investors are unaware of the conflicts sell-side analysts face and may, as a consequence, be misled into making suboptimal investment decisions. We examine who trades on security analyst stock recommendations by extending prior research to focus on investor-specific responses to revisions. We find that both large and small traders react to analyst reports; however, large investors appear to trade more than small traders i...
• Measuring reporting conservatism AI翻译
  作者：Givoly, Dan; Hayn, Carla K.
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of California System; University of California Los Angeles; California State University System; California State Polytechnic University Pomona
  摘要：The paper examines the power and reliability of the differential timeliness (DT) measure developed by Basu (1997) to gauge reporting conservatism. We identify certain characteristics of the information environment unrelated to conservatism that affect the DT measure and find that it is sensitive to the degree of uniformity in the content of the news during the examined period, the types of events occurring in the period, and firms' disclosure policies. Our tests, based on both actual and simul...
• Introducing the first management control systems: Evidence from the retail sector AI翻译
  作者：Sandino, Tatiana
  作者单位：University of Southern California
  摘要：Focusing on a sample of U.S. retailers, I study the management control systems (MCS) that firms introduce when they first invest in controls, and identify four categories of initial MCS, which are defined in terms of the purposes these MCS fulfill. The first category, Basic MCS, is adopted to collect information for planning, setting standards, and establishing the basic operations of the firm. The other three categories are contingent on more specific purposes: Cost MCS focus on enhancing ope...
• Who trades on pro forma earnings information? AI翻译
  作者：Bhattacharya, Nilabhra; Black, Ervin L.; Christensen, Theodore E.; Mergenthaler, Richard D.
  作者单位：Southern Methodist University; Brigham Young University; University of Washington; University of Washington Seattle
  摘要：In recent years, many companies have emphasized adjusted-GAAP earnings numbers in their quarterly press releases. While managers use different names to describe these nonstandard earnings metrics, the financial press frequently refers to them as pro forma earnings. Managers and other advocates of pro forma reporting argue that these disclosures provide a clearer picture of companies' core earnings. On the other hand, regulators, policyrnakers, and the financial press often allege that managers...