Contemporary Accounting Research最新文献_第10页

Cost uniqueness and information uncertainty 成本唯一性与信息不确定性

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-01 DOI: 10.1111/1911-3846.12893

Mark Anderson, Raj Mashruwala, Ye Wang, Rong Zhao

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引用次数: 0

How does depletion interact with auditors' skeptical dispositions to affect auditors' challenging of managers in negotiations? 损耗如何与审计师的怀疑倾向相互作用，从而影响审计师在谈判中对管理者的挑战?

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-01 DOI: 10.1111/1911-3846.12891

Lori Shefchik Bhaskar, Tracie M. Majors, Adam Vitalis

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引用次数: 0

Navigating knowledge and ignorance in the boardroom: A study of audit committee members' oversight styles 在董事会中驾驭知识和无知:审计委员会成员监督风格的研究

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-07-25 DOI: 10.1111/1911-3846.12890

Oriane Couchoux

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引用次数: 0

Mutual funds' reporting frequency and firms' responses to undervaluation: The role of share repurchases 共同基金的报告频率和公司对低估值的反应：股票回购的作用†

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-07-16 DOI: 10.1111/1911-3846.12887

Thomas Bourveau, Xinlei Li, Daniele Macciocchi, Chengzhu Sun

引用次数: 0

Machine learning and the prediction of changes in profitability 机器学习和盈利能力变化的预测

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-07-10 DOI: 10.1111/1911-3846.12888

Stewart Jones, William J. Moser, Matthew M. Wieland

{"title":"Machine learning and the prediction of changes in profitability","authors":"Stewart Jones, William J. Moser, Matthew M. Wieland","doi":"10.1111/1911-3846.12888","DOIUrl":"10.1111/1911-3846.12888","url":null,"abstract":"This study uses machine-learning methods to predict next-period change in profitability based on a model proposed by Penman and Zhang (2004, Working paper, Columbia University and University of California, Berkeley; “PZ”). We find that new machine-learning methods predict out of sample substantially better than traditional regression methods and provide richer interpretations about the role and impact of different predictor variables through their nonlinear relationships and interaction effects. For example, our results contrast with previous research by showing that both components of the DuPont decomposition (change in profit margin and change in asset turnover) are informative of next-period changes in profitability. Our results are robust across different performance metrics, alternative machine-learning models, and software. Furthermore, an unconstrained machine-learning model using a larger feature space could not significantly improve the performance of the PZ model. PZ variables alone accounted for most of the explanatory power of the unconstrained model, suggesting the PZ model is both well specified (in terms of feature selection) and robust in higher dimensional settings. With respect to the economic significance of this information, we find mixed results. The market appears to adjust its expectations more in line with the machine-learning predictions relative to the PZ model but the portfolio returns are not significantly different.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"40 4","pages":"2643-2672"},"PeriodicalIF":3.6,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12888","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42018046","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Asymmetric adjustment of control 不对称控制调节

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-07-10 DOI: 10.1111/1911-3846.12886

Victor van Pelt

{"title":"Asymmetric adjustment of control","authors":"Victor van Pelt","doi":"10.1111/1911-3846.12886","DOIUrl":"10.1111/1911-3846.12886","url":null,"abstract":"This study examines how principals adjust their control over agents based on their prior controlling experience. According to standard economic theory, principals should be equally willing to decrease their control as they are to increase it. However, I use psychological theory to predict that prior experience with exercising tight control reinforces a principal's belief that agents are self-interested and that they should be controlled. In contrast, I predict that the reinforcement of the belief that agents are socially interested and should not be controlled is weaker for principals who have prior experience with exercising loose control. I test my prediction using an experiment that exposes principals to either an increase or a decrease in the economic costs of control. The results support the predictions by exhibiting an asymmetric adjustment pattern. The data also show theory-consistent conditions under which the asymmetry in principals' control adjustments diminishes. Overall, my study suggests that prolonged experience with exercising high levels of control over agents may cause principals to hold on to their control disproportionally.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"40 4","pages":"2203-2225"},"PeriodicalIF":3.6,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12886","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135011253","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Financial statement similarity 财务报表相似度

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-07-10 DOI: 10.1111/1911-3846.12885

Stephen V. Brown, Guang Ma, Jennifer Wu Tucker

引用次数: 1

The deterrent effect of the SEC Whistleblower Program on financial reporting securities violations 美国证券交易委员会举报计划对财务报告证券违法行为的威慑作用

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-06-26 DOI: 10.1111/1911-3846.12884

Christine Wiedman, Chunmei Zhu

{"title":"The deterrent effect of the SEC Whistleblower Program on financial reporting securities violations","authors":"Christine Wiedman, Chunmei Zhu","doi":"10.1111/1911-3846.12884","DOIUrl":"10.1111/1911-3846.12884","url":null,"abstract":"The stated goal of the SEC Whistleblower Program introduced as part of the Dodd-Frank Act was to deter securities violations and thereby to strengthen investor protection. We document significant reductions in the likelihood of financial reporting fraud by US firms following the introduction of this program. The reductions are robust to controlling for other regulatory changes in the Dodd-Frank Act and economic trends. Given that employees of firms with weaker internal compliance and reporting programs are more likely to report irregularities directly to the SEC rather than internally, we predict and find that these firms are more likely to change their reporting behavior. We also show that the observed reductions are attributable to an improvement in internal whistleblower programs and the hiring of more capable audit committee members after the program's inception. Collectively, these findings provide important large-sample evidence of significant benefits of the SEC Whistleblower Program for deterring financial reporting fraud and of the efficacy of bounty-type whistleblower programs.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"40 4","pages":"2711-2744"},"PeriodicalIF":3.6,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12884","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41396451","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The implications of firms' derivative usage on the frequency and usefulness of management earnings forecasts 公司使用衍生工具对管理层盈余预测频率和有用性的影响

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-06-19 DOI: 10.1111/1911-3846.12883

John L. Campbell, Sean Shun Cao, Hye Sun Chang, Raluca Chiorean

{"title":"The implications of firms' derivative usage on the frequency and usefulness of management earnings forecasts","authors":"John L. Campbell, Sean Shun Cao, Hye Sun Chang, Raluca Chiorean","doi":"10.1111/1911-3846.12883","DOIUrl":"10.1111/1911-3846.12883","url":null,"abstract":"We investigate how firms' use of derivatives impacts voluntary disclosure and offer four main findings. First, we find that when firms begin using derivative instruments, they increase the frequency of management earnings forecasts. Second, using path analysis, we find a direct link between derivative usage and forecast frequency, as well as an indirect link through reduced earnings volatility. Third, we find that CEOs with more pronounced career concerns increase forecast frequency only when derivatives make earnings easier to forecast and find no evidence that investor demand drives the decision to provide a forecast. These results suggest that the primary mechanism for the association between derivative usage and forecast frequency is a reduction in the manager's costs of providing the forecasts. Finally, we find that the majority of derivative-induced forecasts are uninformative to capital market participants, especially after FAS 161 provided the necessary underlying data to understand how firms use derivatives. Overall, we provide the first empirical evidence that firms that use derivatives issue more management forecasts, but we also find that these incremental forecasts are largely uninformative and appear driven by managerial career concerns.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"40 4","pages":"2409-2445"},"PeriodicalIF":3.6,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12883","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46189289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Economic consequences of announcing strategic alternatives: A voluntary disclosure's benefits and costs 宣布战略替代方案的经济后果：自愿披露的收益和成本

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-06-10 DOI: 10.1111/1911-3846.12880

Jenny Zha Giedt

引用次数: 0