The Accounting Review

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• The interaction between accrual management and hedging: Evidence from oil and gas firms AI翻译
  作者：Pincus, M; Rajgopal, S
  作者单位：University of Iowa; University of Washington; University of Washington Seattle
  摘要：This research investigates whether oil and gas producing firms use abnormal accruals and hedging with derivatives as substitutes to manage earnings volatility. Firms engaged in oil exploration and drilling are exposed to two kinds of risks that can cause earnings volatility: oil price risk and exploration risk. Firms can use abnormal accrual choices and/or derivatives to reduce earnings volatility caused by oil price risk, but cannot directly hedge the operational risk of unsuccessful drilling...
• Insider trading, earnings quality, and accrual mispricing AI翻译
  作者：Beneish, MD; Vargus, ME
  作者单位：Indiana University System; Indiana University Bloomington; University of Texas System; University of Texas Dallas
  摘要：This paper investigates whether insider trading is informative about earnings quality and the valuation implications of accruals. We show that (1) the one-year-ahead persistence of income-increasing accruals is significantly lower when accompanied by abnormal insider selling and greater when accompanied by abnormal insider buying; (2) the accrual mispricing phenomenon observed in previous work (e.g., Sloan 1996) is due to the mispricing of income-increasing accruals; (3) one-year-ahead hedge r...
• Code blue AI翻译
  作者：[Anonymous]
• The mispricing of abnormal accruals AI翻译
  作者：Xie, H
  作者单位：University of Illinois System; University of Illinois Urbana-Champaign
  摘要：This paper examines the market pricing of Jones (1991) model-estimated abnormal accruals (often termed discretionary accruals in the prior literature) to test whether stock prices rationally reflect the one-year-ahead earnings implications of these accruals. Using the Mishkin (1983) and hedge-portfolio test methods Sloan (1996) employs, I find that the market overestimates the persistence, or one-year-ahead earnings implications, of abnormal accruals, and consequently overprices these accruals...
• Earnings dilution and the explanatory power of earnings for returns AI翻译
  作者：Huson, MR; Scott, TW; Wier, HA
  作者单位：University of Alberta
  摘要：Executive stock options and convertible securities can increase the number of common shares outstanding while adding less than the market value of the newly issued securities to a firm's assets. We model the effect of expected dilution on the earnings/return relation. Expected dilution effectively reduces the permanence of an earnings innovation. Empirical evidence supports the hypothesis that dilutive securities attenuate the relation between earnings and returns. Estimated earnings response ...
• Accounting scholarship: What is uniquely ours? AI翻译
  作者：Kinney, WR Jr
  作者单位：University of Texas System; University of Texas Austin
• Does the use of financial derivatives affect earnings management decisions? AI翻译
  作者：Barton, J
  作者单位：Emory University
  摘要：I present evidence consistent with managers using derivatives and discretionary accruals as partial substitutes for smoothing earnings. Using 1994-1996 data for a sample of Fortune 500 firms, I estimate a set of simultaneous equations that captures managers' incentives to maintain a desired level of earnings volatility through hedging and accrual management. These incentives include increasing managerial compensation and wealth, reducing corporate income taxes and debt financing costs, avoidin...
• The association between auditor litigation and abnormal accruals AI翻译
  作者：Heninger, WG
  作者单位：State University of New York (SUNY) System; University at Buffalo, SUNY
  摘要：Concern that earnings management erodes the quality of financial reporting has prompted the Securities and Exchange Commission to question the role of the external auditor. To help address that concern, this study examines the relation between earnings management and auditor litigation. While prior research on the relation between auditor litigation and total accruals has yielded inconclusive results, I find that the risk of auditor litigation is positively associated with a sharper measure of...
• Why does fixation persist? Experimental evidence on the judgment performance effects of expensing intangibles AI翻译
  作者：Luft, JL; Shields, MD
  作者单位：Michigan State University
  摘要：This study shows experimentally that when individuals use information on intangibles expenditures to predict future profits, expensing (vs. capitalizing) the expenditures significantly reduces the accuracy, consistency, consensus, and self-insight of individuals' subjective profit predictions. The experimental design allows us to eliminate several competing explanations for this apparent fixation on accounting. Subjects do not base their judgments on a naive prior belief that expensing preclud...
• Does congruence between audit structure and auditors' locus of control affect job performance? AI翻译
  作者：Hyatt, TA; Prawitt, DF
  作者单位：Seattle University; Brigham Young University
  摘要：This study examines how auditors' job performance is affected by the interaction between individual auditors' locus of control and the extent to which the employing audit firm uses a structured audit technology. We distributed an instrument that measures locus of control (internal vs. external) and other key constructs to staff- and senior-level auditors from the two most structured and the two least structured (then) Big 6 accounting firms. Results indicate that supervisor-assessed job perfor...