The Accounting Review

最新文章

• Economic determinants of audit committee independence AI翻译
  作者：Klein, A
  作者单位：New York University
  摘要：This paper provides empirical evidence that audit committee independence is associated with economic factors. I find that audit committee independence increases with board size and board independence and decreases with the firm's growth opportunities and for firms that report consecutive losses. In contrast, no relation is found between audit committee independence and creditors' demand for accounting information. Although the analyses are based on data from 1991 to 1993, these results have im...
• Accounting conservatism, the quality of earnings, and stock returns AI翻译
  作者：Penman, SH; Zhang, XJ
  作者单位：Columbia University; University of California System; University of California Berkeley
  摘要：When a firm practices conservative accounting, changes in the amount of its investments can affect the quality of its earnings. Growth in investment reduces reported earnings and creates reserves. Reducing investment releases those reserves, increasing earnings. If the change in investment is temporary, then current earnings is temporarily depressed or inflated, and thus is not a good indicator of future earnings. This study develops diagnostic measures of this joint effect of investment and c...
• The valuation implications of employee stock option accounting for profitable computer software firms AI翻译
  作者：Bell, TB; Landsman, WR; Miller, BL; Yeh, S
  作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of California System; University of California Los Angeles; National Taiwan University
  摘要：We use the Ohlson (1995, 1999) and Feltham and Ohlson (1999) valuation models to investigate the market's perception of the economic effect of employee stock options (ESOs) on firm value for a sample of 85 profitable computer software companies. Our results suggest that the market appears to value these firms' ESO expense not as an expense but as an intangible asset (even after controlling for the endogeneity bias arising from the mechanical relation between ESOs and the underlying stock price...
• Evidence from auditors about managers' and auditors' earnings management decisions AI翻译
  作者：Nelson, MW; Elliott, JA; Tarpley, RL
  作者单位：Cornell University; George Washington University
  摘要：This paper reports analyses of data obtained using a field-based questionnaire in which 253 auditors from one Big 5 firm recalled and described 515 specific experiences they had with clients who they believe were attempting to manage earnings. This approach enables us to analyze separately managers' decisions about how to attempt earnings management and auditors' decisions about whether to prevent earnings management by requiring adjustment of the financial statements. Our results indicate tha...
• International diversification and analysts' forecast accuracy and bias AI翻译
  作者：Duru, A; Reeb, DM
  作者单位：American University
  摘要：We investigate the association between corporate international diversification and the accuracy and bias of consensus analysts' earnings forecasts. We find that greater corporate international diversification is associated with less accurate and more optimistic forecasts. Our results suggest that international diversification reflects unique dimensions of forecasting difficulty that are not captured in previously identified determinants. This evidence suggests that as firms become more geograp...
• Discussion of the quality of accruals and earnings: The role of accrual estimation errors AI翻译
  作者：McNichols, MF
  作者单位：Stanford University
  摘要：Dechow and Dichev (2002) model earnings quality as the magnitude of estimation errors in accruals, and provide empirical estimates of this construct based on the relation between accruals and cash flows. I characterize the innovation and limitations in this approach, and provide empirical evidence of measurement error in their empirical specification. I also adapt their model to assess the specification of the Jones' (1991) model and document that this model provides estimates of discretionary...
• The balance sheet as an earnings management constraint AI翻译
  作者：Barton, J; Simko, PJ
  作者单位：Emory University; University of Virginia
  摘要：The balance sheet accumulates the effects of previous accounting choices, so the level of net assets partly reflects the extent of previous earnings management. We predict that managers' ability to optimistically bias earnings decreases with the extent to which the balance sheet overstates net assets relative to a neutral application of GAAP. To test this prediction, we examine the likelihood of reporting various earnings surprises for 3,649 firms during 1993-1999. Consistent with our predicti...
• The effect of mandated market risk disclosures on trading volume sensitivity to interest rate, exchange rate, and commodity price movements AI翻译
  作者：Linsmeier, TJ; Thornton, DB; Venkatachalam, M; Welker, M
  作者单位：Michigan State University; Queens University - Canada; Stanford University
  摘要：We hypothesize that firms' 10-K market risk disclosures, recently mandated by SEC Financial Reporting Release No. 48 (FRR No. 48), reduce investors' uncertainty and diversity of opinion about the implications, for firm value, of changes in interest rates, foreign currency exchange rates, and commodity prices. We argue that this reduced uncertainty and diversity of opinion should dampen trading volume sensitivity to changes in these underlying market rates or prices. Consistent with this hypoth...
• Discussion of the relation between auditors' fees for nonaudit services and earnings management AI翻译
  作者：Kinney, WR Jr; Libby, R
  作者单位：University of Texas System; University of Texas Austin; Cornell University
• Perspectives on recent capital market research AI翻译
  作者：Beaver, WH
  作者单位：Stanford University