The Accounting Review

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• The revenue implications of financial and operational measures of product quality AI翻译
  作者：Nagar, V; Rajan, MV
  作者单位：University of Michigan System; University of Michigan; Stanford University
  摘要：We examine the future sales implications of product quality measures for 11 plants of a manufacturing group In a Fortune 500 firm. Our results indicate that both financial quality measures, such as external failure costs incurred due to product failures at customer sites, and nonfinancial quality measures, such as defect rates and on-time deliveries, are leading indicators of future sales. While changes in defects and on-time deliveries affect sales in the subsequent quarter, changes in extern...
• Estimating the hidden costs of environmental regulation AI翻译
  作者：Joshi, S; Krishnan, R; Lave, L
  作者单位：Michigan State University; Carnegie Mellon University
  摘要：This paper examines the extent to which accounting systems separately identify all the costs of environmental regulation. We estimate the relation between the visible costs of regulatory compliance (costs that firms' accounting systems correctly classify as environmental) and hidden environmental costs embedded in other accounts. We use plant-level data from 55 steel mills to estimate hidden costs, and we follow up with structured interviews of corporate-level managers and plant-level accounta...
• An empirical investigation of an incentive plan that includes nonfinancial performance measures AI翻译
  作者：Banker, RD; Potter, G; Srinivasan, D
  作者单位：University of Texas System; University of Texas Dallas; Cornell University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
  摘要：Recent studies report an increasing use of nonfinancial measures such as product quality, customer satisfaction, and market share in performance measurement and compensation systems. A growing literature suggests that because current nonfinancial measures are better predictors of long-term financial performance than current financial measures, they help refocus managers on the long-term aspects of their actions. However, little empirical evidence is available on the relation between nonfinanci...
• Effects of comprehensive-income characteristics on nonprofessional investors' judgments: The role of financial-statement presentation format AI翻译
  作者：Maines, LA; McDaniel, LS
  作者单位：Indiana University System; Indiana University Bloomington; University of North Carolina; University of North Carolina Chapel Hill
  摘要：Statement of Financial Accounting Standards (SFAS) No. 130 requires companies to report comprehensive income in a primary financial statement, but allows its presentation in either a statement of comprehensive income or a statement of stockholders' equity (Financial Accounting Standards Board [FASB] 1997). In an experiment, we examine whether and how alternative presentation formats affect nonprofessional investors' processing of comprehensive-income information, specifically, information disc...
• Purchase, pooling, and equity analysts' valuation judgments AI翻译
  作者：Hopkins, PE; Houston, RW; Peters, MF
  作者单位：Indiana University System; Indiana University Bloomington; University of Alabama System; University of Alabama Tuscaloosa; University System of Maryland; University of Maryland College Park
  摘要：We provide evidence that analysts' stock-price judgments depend on (1) the method of accounting for a business combination and (2) the number of years that have elapsed since the business combination. Consistent with business-press reports of managers' concerns, analysts' stock-price judgments are lowest when a company applies the purchase method of accounting and ratably amortizes the acquisition premium. The number of years since the business combination affects analysts' price estimates onl...
• The effects of audit quality and consequence severity on juror evaluations of auditor responsibility for plaintiff losses AI翻译
  作者：Kadous, K
  作者单位：University of Washington; University of Washington Seattle
  摘要：This study investigates whether providing higher quality audits increases auditors' chances of avoiding legal liability. Negligence rules hold auditors responsible for plaintiff losses only when the quality of the audit provided fails to meet standards of care. The results of my experiment suggest that the ex post observed consequences of audit failure can affect the standards of care to which jurors hold auditors. Specifically, participants serving in the role of jurors assessed higher standa...
• The balanced scorecard: Judgmental effects of common and unique performance measures AI翻译
  作者：Lipe, MG; Salterio, SE
  作者单位：University of Oklahoma System; University of Oklahoma - Norman; University of Waterloo
  摘要：The balanced scorecard is a new tool that complements traditional measures of business unit performance. The scorecard contains a diverse set of performance measures, including financial performance, customer relations, internal business processes, and learning and growth. Advocates of the balanced scorecard suggest that each unit in the organization should develop and use its own scorecard, choosing measures that capture the unit's business strategy. Our study examines judgmental effects of t...
• The value relevance of nonfinancial measures of air pollution in the electric utility industry AI翻译
  作者：Hughes, KE II
  作者单位：Louisiana State University System; Louisiana State University
  摘要：This study examines the relation between the market value of equity and nonfinancial pollution measures (sulfur dioxide emissions) that capture firms' exposure to future environmental liabilities. I find that a nonfinancial pollution proxy is value-relevant for high-polluting electric utilities targeted for air pollution abatement by Phase One of the 1990 Clean Air Act Amendments (CAAA). On average, these utilities' exposure to (unbooked) future environmental liabilities decreased their mean 1...
• Investor sophistication and patterns in stock returns after earnings announcements AI翻译
  作者：Bartov, E; Radhakrishnan, S; Krinsky, I
  作者单位：New York University; University of Texas System; University of Texas Dallas; McMaster University
  摘要：This study tests whether the observed patterns in stock returns after quarterly earnings announcements are related to the proportion of firm shares held by institutional investors, a variable used by prior research to proxy for investor sophistication. Our findings show that the institutional holdings variable is negatively correlated with the observed post-announcement abnormal returns. Our findings also show that traditional proxies for transaction costs (i.e., trading volume, stock price) a...
• Implementing residual income valuation with linear information dynamics AI翻译
  作者：Myers, JN
  作者单位：University of Washington; University of Washington Seattle
  摘要：Residual income (RI) valuation is a method of estimating firm value based on expected future accounting numbers. This study documents the necessity of using linear information models (LIMs) of the time series of accounting numbers in valuation. I find that recent studies that make ad hoc modifications to the LIMs contain internal inconsistencies and violate the no arbitrage assumption. I outline a method for modifying the LIMs while preserving internal consistency. I also find that when estima...