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作者：Frederickson, James R.; Hodge, Frank D.; Pratt, Jamie H.
作者单位：University of Washington; University of Washington Seattle; Indiana University System; Indiana University Bloomington
摘要：In this study we report the results of an experiment that examines how relatively sophisticated financial statement users interpret management stock option compensation disclosures under SFAS No. 123 and SFAS No. 123R. We predict and find that mandated income statement recognition, as required under SFAS No. 123R, leads to higher user assessments of reliability than either voluntary income statement recognition or voluntary footnote disclosure, options allowed under SFAS No. 123. Users view vo...
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作者：Wyatt, A
作者单位：University of Melbourne
摘要：This paper examines the extent to which management makes accounting choices to record intangible assets based on their insights into the underlying economics of their firm. It exploits a setting in which management has accounting discretion to record a wide range of intangible assets. The results suggest that management's choice to record intangible assets is associated with the strength of the technology affecting the firms operations, the length of the technology cycle time, and property-rig...
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作者：Brown, LD
作者单位：University System of Georgia; Georgia State University
摘要：Editors exhort authors to circulate and present their working papers to colleagues before submitting them to journals (Zimmerman 1989; Green et al. 2002). Authors heeding such advice are said to increase the likelihood of getting their work published and making their research, once published, more influential (Zimmerman 1989). While evidence regarding these matters is of keen importance to authors, editors, and administrators, no research exists showing that circulating and presenting manuscri...
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作者：Hanlon, M
作者单位：University of Michigan System; University of Michigan
摘要：I investigate the role of book-tax differences in indicating the persistence of earnings, accruals, and cash flows for one-period-ahead earnings. I also examine whether the level of book-tax differences influences investors' assessments of future earnings persistence. I find that firm-years with large book-tax differences have earnings that are less persistent than firm-years with small book-tax differences. Further, the evidence is consistent with investors interpreting large positive book-ta...
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作者：Hannan, RL
作者单位：University System of Georgia; Georgia State University
摘要：This study investigates whether paying higher wages motivates employees to provide higher effort and whether firm profit moderates this relation. Consistent with gift exchange (Akerlof 1982) and reciprocity (Rabin 1993) models, my experimental results show that workers provided more effort when they were paid higher wages even though there was no ex post financial reward for doing so. Moreover, firm profit influenced the relation between wages and effort. Workers provided higher effort when fi...
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作者：Ettredge, ML; Kwon, SY; Smith, DB; Zarowin, PA
作者单位：University of Kansas; Korea University; Iowa State University; New York University
摘要：This study investigates the effect of firms' adoption of SFAS No. 131 segment disclosure rules on the stock market's ability to predict the firms' earnings, as captured by the forward earnings response coefficient (FERC). The FERC is the association between current-year returns and next-year earnings. SFAS No. 131, effective for fiscal years beginning after December 15, 1997, arguably increased both the quantity and quality of segment disclosure. Consistent with the standard's intended qualita...
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作者：Herrmann, D; Thomas, WB
作者单位：Baylor University; University of Oklahoma System; University of Oklahoma - Norman
摘要：We find that analyst forecasts of earnings per share occur in nickel intervals at a much greater frequency than do actual earnings per share. Analysts who round their earnings per share forecasts to nickel intervals exhibit characteristics of analysts who are less informed, exert less effort, and have fewer resources. Rounded forecasts are less accurate and the negative relation between rounding and forecast accuracy increases as the rounding interval increases from nickel to dime, quarter, ha...
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作者：Cheng, Q; Warfield, TA
作者单位：University of British Columbia; University of Wisconsin System; University of Wisconsin Madison
摘要：This paper examines the link between managers' equity incentives-arising from stock-based compensation and stock ownership-and earnings management. We hypothesize that managers with high equity incentives are more likely to sell shares in the future and this motivates these managers to engage in earnings management to increase the value of the shares to be sold. Using stock-based compensation and stock ownership data over the 1993-2000 time period, we document that managers with high equity in...
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作者：Mercer, M
作者单位：Emory University
摘要：This study provides a theoretical framework and experimental evidence on how managers' disclosure decisions affect their credibility with investors. I find that in the short-term, more forthcoming disclosure has a positive effect on management's reporting credibility, especially when management is forthcoming about negative news. However, these short-term credibility effects do not persist over time. In the long-term, managers who report positive earnings news are rated as having higher report...
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作者：Kimbrough, MD
作者单位：Harvard University
摘要：I extend prior research on the information content of conference calls by examining whether they accelerate analysts' and investors' responses to the future implications of currently announced earnings. I find that the initiation of conference calls is associated with a significant reduction in the serial correlation in analyst forecast errors, a measure of initial analyst underreaction. I also find that the initiation of conference calls is associated with significant reductions in two measur...
