Contemporary Accounting Research最新文献_第4页

Data analytics strategy and internal information quality 数据分析战略和内部信息质量

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-03-04 DOI: 10.1111/1911-3846.12942

Katie W. Lem

引用次数: 0

Third-party reporting and cross-border tax planning 第三方报告和跨境税务筹划

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-03-04 DOI: 10.1111/1911-3846.12943

Alexander Edwards, Michelle Hutchens, Anh V. Persson

{"title":"Third-party reporting and cross-border tax planning","authors":"Alexander Edwards, Michelle Hutchens, Anh V. Persson","doi":"10.1111/1911-3846.12943","DOIUrl":"10.1111/1911-3846.12943","url":null,"abstract":"In 2018, the European Union (EU) introduced a new mandatory reporting requirement for a wide range of cross-border tax arrangements (EU Directive 2018/822, also known as DAC6). Unlike prior corporate transparency initiatives, which put the reporting responsibility primarily on the taxpayers, this directive puts the initial reporting responsibility on the third-party intermediaries who are involved in the reportable arrangement at any stage during the planning and execution process. We exploit the adoption of DAC6 in the EU to examine the effectiveness of third-party reporting in curbing cross-border tax planning by multinationals. Using a difference-in-differences research design, we find that affected firms reduce income shifting and report higher effective tax rates in the post-adoption period. The reduction in income shifting is stronger for affiliates operating in countries without legal professional privilege extensions and in countries where noncompliance penalties are higher. Our results highlight the importance of strong third-party reporting requirements in constraining cross-border tax planning.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2024-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12943","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140055512","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

Can artificial intelligence reduce the effect of independence conflicts on audit firm liability? 人工智能能否减少独立性冲突对审计公司责任的影响？

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-02-26 DOI: 10.1111/1911-3846.12941

Robert Libby, Patrick D. Witz

引用次数: 0

A comparison of direct listings and IPOs 直接上市与首次公开募股的比较

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-02-26 DOI: 10.1111/1911-3846.12940

Anna Bergman Brown, Donal Byard, Jangwon Suh

{"title":"A comparison of direct listings and IPOs","authors":"Anna Bergman Brown, Donal Byard, Jangwon Suh","doi":"10.1111/1911-3846.12940","DOIUrl":"10.1111/1911-3846.12940","url":null,"abstract":"IPOs and direct listings (DLs) offer two different mechanisms for firms to go public. In contrast to IPOs, DLs do not employ an underwriter or raise new capital. Using a sample of IPOs and DLs on major stock markets in the European Union, we document that firms that choose to go public via DLs are larger, more profitable, and less levered, on average, than IPO firms. These pre-listing differences suggest that DL firms should be less risky than IPO firms; however, controlling for this selection effect, we find that DLs have higher aftermarket price volatility than IPOs. This is consistent with some policy-makers' concerns that, because they lack an underwriter, DLs expose investors to higher risk than IPOs in the immediate post-listing period. We show that this heightened price volatility persists, on average, for the first 20 trading days after listings, and is larger in industries where listed peer firms provide relatively low-quality disclosures. Our results provide new evidence regarding the types of firms that choose to list via DLs versus IPOs and the riskiness of IPOs versus DLs in the immediate post-listing period; additionally, our results are consistent with underwriters improving the quality of information available to investors for IPO firms in the pre-listing period.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2024-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139978667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Local information advantage and stock returns: Evidence from social media 地方信息优势与股票回报：来自社交媒体的证据†

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-30 DOI: 10.1111/1911-3846.12935

Yuqin Huang, Feng Li, Tong Li, Tse-Chun Lin

引用次数: 0

Auditor communication on critical audit matters: Timing, inspection likelihood, and the audit committee 审计师对 CAM 的沟通：时间、检查可能性和审计委员会

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-24 DOI: 10.1111/1911-3846.12934

Aubrey R. Whitfield, Yoon Ju Kang, Ken T. Trotman

{"title":"Auditor communication on critical audit matters: Timing, inspection likelihood, and the audit committee","authors":"Aubrey R. Whitfield, Yoon Ju Kang, Ken T. Trotman","doi":"10.1111/1911-3846.12934","DOIUrl":"10.1111/1911-3846.12934","url":null,"abstract":"In response to the extended audit report regulations implemented in the United States and internationally, both audit firms and regulators have increased scrutiny over critical audit matters/key audit matters (collectively referred to as CAMs) through internal and external inspections. At the same time, auditors and audit committees (ACs) have altered the content and timing of CAM-related discussions by communicating specific planned audit procedures earlier in the audit process. This study explores the effect of early communication of CAM-related audit procedures to the AC and increased scrutiny from inspections on auditors' propensity to adjust planned audit procedures in the presence of newly identified audit risks. Based on self-justification theory, we predict and find that early communication of planned audit procedures to the AC causes auditors to be less likely to adjust planned audit procedures even when additional risks arise that necessitate change, especially when inspection is likely. This has the potential for diminished audit quality. Interviews with audit partners provide context for how these findings relate to the current auditing environment.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2024-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12934","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139554027","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

Voluntary disclosures regarding open market repurchase programs 关于公开市场回购计划的自愿披露

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-24 DOI: 10.1111/1911-3846.12937

Leonce Bargeron, Alice Bonaimé, William Docimo, Mei Feng, Shawn Thomas

引用次数: 0

Audit firm tenure disclosure and nonprofessional investors' perceptions of auditor independence: The mitigating effect of partner rotation disclosure 审计公司任期披露与非专业投资者对审计师独立性的看法：合伙人轮换披露的缓解效应

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-24 DOI: 10.1111/1911-3846.12936

Sarah Judge, Brian M. Goodson, Chad M. Stefaniak

{"title":"Audit firm tenure disclosure and nonprofessional investors' perceptions of auditor independence: The mitigating effect of partner rotation disclosure","authors":"Sarah Judge, Brian M. Goodson, Chad M. Stefaniak","doi":"10.1111/1911-3846.12936","DOIUrl":"10.1111/1911-3846.12936","url":null,"abstract":"In 2017, the PCAOB began requiring audit firm tenure disclosure within the audit report for SEC registrant clients. Many commenters raised the concern that prominent disclosure of firm tenure would lead investors to inappropriately infer a negative relation between audit quality and long tenure. This is particularly troubling given that empirical evidence generally does not support this concern. In our first experiment, we predict and find that disclosing an audit firm's long tenure within the audit report increases investors' perceptions that the audit firm's independence was impaired while conducting the audit. However, we also identify an intervention that mitigates the effects of disclosing long tenure—an accompanying disclosure in the audit report of the firm's adherence to the SEC's mandatory partner rotation requirement. We find that such a disclosure moderates the effect of long tenure disclosure such that in the absence (presence) of a partner rotation disclosure, investors do (do not) perceive increased independence impairment when long firm tenure is disclosed. In a second experiment, we predict and find that long firm tenure disclosure reduces investors' preference to invest in an otherwise quantitatively optimal investment and that this relation is driven, in part, by perceptions of independence impairment. Again, this result is attenuated by partner rotation disclosure. Our results should be useful to regulators in understanding the effects of their disclosure mandate and to audit firms in understanding a practical way in which they might mitigate the implications of such effects.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2024-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12936","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139553989","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

Information aggregation to form earnings expectations: Evidence from CEO networks and management forecast accuracy 信息聚合形成收益预期：CEO 网络和管理层预测准确性的证据

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-22 DOI: 10.1111/1911-3846.12933

Sam (Sunghan) Lee, Steven R. Matsunaga, Peter (Seung Hwan) Oh, Hyun A. Hong

引用次数: 0

Segment disaggregation and equity-based pay contracts 分部分类和股权薪酬合同

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-15 DOI: 10.1111/1911-3846.12928

Young Jun Cho, Hojun Seo

引用次数: 0