-
作者：Lorek, KS; Willinger, GL
作者单位：University of Oklahoma System; University of Oklahoma - Norman
摘要：This paper provides evidence on the time-series properties and predictive ability of cash-flow data. It employs a sample of firms on which the accuracy of one-step-ahead cash-flow predictions is assessed during the 1989-1991 holdout period. We develop a new multivariate, time-series prediction model that employs past values of earnings, short-term accruals and cash-flows as independent variables in a time-series regression. Our predictive results indicate that this model clearly outperforms fi...
-
作者：Maines, LA; Hand, JRM
作者单位：Duke University; University of North Carolina; University of North Carolina Chapel Hill
摘要：This study uses experiments to examine whether individuals' earnings forecasts correctly reflect the time series properties of quarterly earnings, in particular, the positive autocorrelation in seasonal quarterly changes and the negative fourth-order moving average term documented by Brown and Rozeff (1979), We find that individuals' forecasts are sensitive to the magnitude of these time series components; however, individuals typically underweight the moving average term and under- (over-)wei...
-
作者：Barth, ME; Beaver, WH; Landsman, WR
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：This study provides evidence that fair value estimates of loans, securities and long-term debt disclosed under SFAS No. 107 provide significant explanatory power for bank share prices beyond that provided by related book values, In contrast to Eccher et al, (1996) and Nelson (1996), we consistently find incremental explanatory power for loans' fair values, Relatively stronger findings are obtained using a set of significant conditioning variables, including nonperforming loans, and interest-se...
-
作者：CHEN, KCW; LEE, CWJ
作者单位：Tulane University; Hong Kong University of Science & Technology
摘要：Oil and gas firms using the full cost method during 1985-1986 faced a choice between taking a write-down in oil and gas properties or changing to the successful efforts method. In a time-series analysis, the executive bonuses of firms switching to the successful efforts method are found to be associated with accounting income, suggesting the effects of bonus plans on the switch decision. We also show that the firms choosing write-down reported more losses before the write-down during the decis...
-
作者：MOSER, DV; EVANS, JH; KIM, CK
作者单位：Hong Kong University of Science & Technology
摘要：A general prediction from the economic theory of tax reporting is that taxpayers will report more income as the tax rate increases, but the related empirical evidence has been mixed. We conducted an experiment to examine whether taxpayers' responses to a tax-rate change depend on both economic effects and perceptions of horizontal and exchange inequity. Our findings reconcile the previously inconsistent empirical results by identifying conditions under which perceptions of inequity drive taxpa...
-
作者：PRAWITT, DF
摘要：This study uses an experiment to investigate how structured audit approaches affect managers' human resource assignments in environments varying in complexity. Results indicate that consistent with a ''knowledge-sharing'' role of structured approaches, structured firm managers assigned less experienced auditors than did unstructured firm managers to perform and to supervise/review a set of judgment-oriented audit tasks, Increased environmental complexity resulted in the assignment of more expe...
-
作者：BENEISH, MD; PRESS, E
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
摘要：Although costs of default underpin the debt covenant hypothesis, prior research provides limited evidence of their nature, magnitude, and impact on shareholder wealth. We show that announcements of technical default are associated with significant stock price declines. Combining post-default changes in terms of debt contracts with stock returns, we examine whether the consequences arising from renegotiation of lending agreements are priced in the market, and estimate that higher costs of borro...
-
作者：PONEMON, LA
摘要：This study examines accountants' objectivity when serving as a litigation specialist and expert witness on legal cases, Its purpose is to determine whether professional objectivity, in generating a fair and unbiased accounting estimate, will be influenced by the possible conflicts of interest inherent in the litigation support role, Employing litigation specialists and auditors from two firms, and the Defining Issues Test as a psychometric for practitioners' ethical reasoning, this research ex...
-
作者：ESPAHBODI, H; ESPAHBODI, P; TEHRANIAN, H
作者单位：Boston College
摘要：This study examines the equity price reaction to two generally income increasing standards on accounting for income taxes, namely the Statements on Financial Accounting Standards (SFAS) No. 96 and No. 109. It is hypothesized that significant positive abnormal returns should be observed around the Exposure Draft dates. It is also hypothesized that the equity price reaction to these standards should be related to the magnitude of their income effects and the economic consequences of a given inco...
-
作者：ELDENBURG, L
摘要：In 1983, Medicare changed its method of reimbursement for hospitals from an all-charges-paid basis to a flat-fee-per-diagnosis basis. Managing the cost of treatment because increasingly important. In an effort to influence physicians to reduce the amount of resources used, hospital controllers began providing cost information about patient treatment to physicians. Several questions were being asked at the time: (1) Although society affirmed that cost containment is necessary, should physicians...
