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作者：Gimbar, Christine; Hansen, Bowe; Ozlanski, Michael E.
作者单位：DePaul University; Virginia Polytechnic Institute & State University; Susquehanna University
摘要：The Public Company Accounting Oversight Board recently proposed amendments to the standard audit report that would require the disclosure of critical audit matters (CAMs), and the Securities and Exchange Commission continues to evaluate the use of principles-based (imprecise) accounting standards within U.S. generally accepted accounting principles. We assert that jurors perceive precise accounting standards to constrain auditors' control over financial reporting outcomes, resulting in a lower...
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作者：Kirk, Marcus P.; Markov, Stanimir
作者单位：State University System of Florida; University of Florida; Southern Methodist University
摘要：Our study introduces analyst/investor days, a new disclosure medium that allows for private interactions with influential market participants. We also highlight interdependencies in the choice and information content of analyst/investor days and conference presentations, a well-researched disclosure medium that similarly allows for private interactions. Analyst/investor days are less frequent, but with longer duration and greater price impact than conference presentations. They are mostly host...
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作者：Bradshaw, Mark T.; Lee, Lian Fen; Peterson, Kyle
作者单位：Boston College; University of Oregon
摘要：The within-year walkdown of analysts' earnings forecasts has largely been attributed to analysts' incentives to curry favor with managers. We appeal to cognitive psychology literature on motivated reasoning and propose that forecasting difficulty interacts with such incentives to yield the observed walkdown. Higher forecasting difficulty generates a wider range of outcomes from which analysts can justify optimistically biased forecasts. In regression analyses, we find that the interaction betw...
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作者：Bills, Kenneth L.; Cunningham, Lauren M.; Myers, Linda A.
作者单位：University of Arkansas System; University of Arkansas Fayetteville; University of Tennessee System; University of Tennessee Knoxville
摘要：In this study, we examine the benefits of membership in an accounting firm association, network, or alliance (collectively referred to as an association''). Associations provide member accounting firms with numerous benefits, including access to the expertise of professionals from other independent member firms, joint conferences and technical trainings, assistance in dealing with staffing and geographic limitations, and the ability to use the association name in marketing materials. We expect...
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作者：Bertomeu, Jeremy; Marinovic, Ivan
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); Stanford University
摘要：We study optimal disclosure via two competing communication channels: hard information whose value has been verified, and soft disclosures such as forecasts, unaudited statements, and press releases. We show that certain soft disclosures may contain as much information as hard disclosures, and we establish that: (1) exclusive reliance on soft disclosures tends to convey bad news, (2) credibility is greater when unfavorable information is reported, and (3) misreporting is more likely when soft ...
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作者：Li, Valerie
作者单位：University of Washington; University of Washington Bothell
摘要：Beatty, Liao, and Wu (2013) document that financial misreporting by prominent firms distorts peer firms' capital investment decisions. Using a large sample of firms subject to SEC and DOJ enforcement actions for accounting misstatements, I establish three important generalizations. First, the adverse effect of financial misstatements documented by Beatty et al. (2013) is not limited to high-profile scandals and can be generalized to a larger population. Second, the distortions are not confined...
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作者：Vorst, Patrick
作者单位：Maastricht University
摘要：I examine whether a reversal of an abnormal cut in discretionary investments is associated with the degree to which the cut is reflective of real earnings management (REM) and whether and how it predicts future operating performance. I define a reversal as occurring when a firm cuts discretionary investments to a below-expected level in one period and reverts back to at least the expected level of investment during the next period. Unlike accrual earnings management, REM involves deliberately ...
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作者：Bruggen, Alexander; Luft, Joan L.
作者单位：Maastricht University; Michigan State University
摘要：Cost overruns on multi-period projects are large and frequent in natural environments. Reasons for these overruns include cost understatements in initial project proposals and escalation of commitment to projects when initial actual costs turn out to be higher than expected. Prior literature has suggested, and some firms have implemented, a device that limits escalation and thus potentially reduces cost overruns: changing decision makers (superiors) so that the manager who approves continuatio...
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作者：Kothari, S. P.; Mizik, Natalie; Roychowdhury, Sugata
作者单位：Massachusetts Institute of Technology (MIT); University of Washington; University of Washington Seattle; Boston College
摘要：We assess the role of both accruals manipulation (AM) and real activities manipulation (RAM) in inducing overvaluation at the time of a seasoned equity offering (SEO). Our results reveal that earnings management is most consistently and predictably linked with post-SEO stock market underperformance when it is driven by RAM; in particular, the opportunistic reduction of expenditures on R&D and selling, general, and administrative activities. Thus, overvaluation at the time of the SEO is more li...
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作者：Davis, Angela K.; Guenther, David A.; Krull, Linda K.; Williams, Brian M.
作者单位：University of Oregon; Indiana University System; Indiana University Bloomington
摘要：We investigate the relation between corporate tax payments and corporate social responsibility. Because existing theory and empirical studies find inconsistent evidence on the relation between these constructs, we investigate whether the two activities act as complements or substitutes. We estimate the relation between measures of corporate social responsibility and (1) the amount of corporate taxes paid, and (2) the amount invested in tax lobbying activities using both ordinary least squares ...
