Contemporary Accounting Research最新文献_第8页

Auditor judgment in the fourth industrial revolution 第四次工业革命中的审计师判断

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-25 DOI: 10.1111/1911-3846.12901

Rita Samiolo, Crawford Spence, Dorothy Toh

{"title":"Auditor judgment in the fourth industrial revolution","authors":"Rita Samiolo, Crawford Spence, Dorothy Toh","doi":"10.1111/1911-3846.12901","DOIUrl":"10.1111/1911-3846.12901","url":null,"abstract":"Discourse proclaiming the advent of a fourth industrial revolution predicts significant disruption to various work domains in the near future. Auditing is one of the domains where bold claims about the potential of technology are being made, with technology expected to augment auditors' judgments and, in time, possibly automate them. Drawing on 44 in-depth interviews with auditors, regulators, and emergent artificial intelligence software providers, we question the prevailing narrative around technological change in auditing which suggests that ostensibly simple, low-level technical tasks are areas where little judgment is at play and thus are ripe for automation. We show that significant elements of deliberation, sensemaking, and reflexivity, arguably critical for the socialization of early career auditors into the profession, may be lost when automating areas of work perceived as low value, leading us to question what it means to apply judgment in auditing. Conversely, higher-level aspects of the audit process may be assisted by technology and augmented in different ways, yet new technological structures generate new areas of indeterminacy that pose new and yet unresolved demands on auditors' judgment. Overall, the paper shows how auditor habits are changing and highlights the risks posed by new technologies to the acquisition of practical knowledge by auditors.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12901","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44805199","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

Earnings guidance stoppage and the value of financial analysts' research 盈利指导停止与金融分析师研究的价值

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-18 DOI: 10.1111/1911-3846.12895

Dan Palmon, Xuan Peng, Ari Yezegel

引用次数: 0

Does tax enforcement disparately affect domestic versus multinational corporations around the world? 税收执法对全球国内公司和跨国公司的影响是不同的吗?

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-18 DOI: 10.1111/1911-3846.12900

Lisa De Simone, Bridget Stomberg, Brian Williams

{"title":"Does tax enforcement disparately affect domestic versus multinational corporations around the world?","authors":"Lisa De Simone, Bridget Stomberg, Brian Williams","doi":"10.1111/1911-3846.12900","DOIUrl":"10.1111/1911-3846.12900","url":null,"abstract":"Global tax enforcement policies have received increased attention since the financial crisis, with much stated focus on curbing perceived harmful tax practices of multinational corporations. Yet there is a dearth of evidence on possible differential effects of home-country tax enforcement on multinationals. We take a step toward filling this void in the tax policy discussion by examining whether there is a differential relation between changes in home-country enforcement and the tax avoidance of domestic versus multinational corporations. Using OECD data on 50 countries from 2005 to 2019, we find increases in home-country enforcement are associated with lower levels of tax avoidance for domestic firms than for multinational corporations. Using a subset of firms from the Bureau van Dijk database, we find that multinationals avoid more tax in foreign countries when home-country enforcement increases. Results are stronger for multinationals with a higher proportion of subsidiaries in low-tax countries and when enforcement spending is low. These findings have implications for policy-makers and highlight the importance of coordinated enforcement efforts across jurisdictions—such as the recently proposed global minimum tax—to successfully curb multinationals' worldwide tax avoidance.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136062588","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

Stock market liberalization and earnings management: Evidence from a quasi-natural experiment in China 股票市场自由化与盈余管理：来自中国一个准自然实验的证据

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-18 DOI: 10.1111/1911-3846.12899

Kaijuan Gao, Jeffrey Pittman, Xiongyuan Wang, Zi-Tian Wang

{"title":"Stock market liberalization and earnings management: Evidence from a quasi-natural experiment in China","authors":"Kaijuan Gao, Jeffrey Pittman, Xiongyuan Wang, Zi-Tian Wang","doi":"10.1111/1911-3846.12899","DOIUrl":"10.1111/1911-3846.12899","url":null,"abstract":"Exploiting a quasi-natural experiment in China in which some firms become investible to foreign investors across different times (i.e., pilot firms), we explore the role that stock market liberalization plays in shaping firms' earnings management activities. In one direction, the national-level liberalization reform may elicit public attention from various stakeholders, piling pressure on managers to refrain from distorting their firms' earnings. In the other direction, the various restrictions that the government imposes on foreign investors cast doubt on whether China's capital control reform will materially affect pilot firms' incentives and scope to manipulate their earnings. To gauge which force is more dominant, we rely on a staggered difference-in-differences research design and find that pilot firms significantly reduce the magnitude of their discretionary accruals and the incidence of financial reporting irregularities from the pre- to the post-liberalization period, compared to non-pilot firms during the same time frame. Additional analysis implies that externalities in the form of stricter external monitoring from the media, institutional investors, and auditors is the major mechanism that helps market liberalization curb firms' earnings management. Our research provides insight on the importance of financial global integration to firms' earnings management practices.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43840782","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: 1

To read or to listen? Does disclosure delivery mode impact investors' reactions to managers' tone language? 读还是听?披露方式是否会影响投资者对经理人语气语言的反应?

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-18 DOI: 10.1111/1911-3846.12898

W. Brooke Elliott, Serena Loftus, Amanda Winn

{"title":"To read or to listen? Does disclosure delivery mode impact investors' reactions to managers' tone language?","authors":"W. Brooke Elliott, Serena Loftus, Amanda Winn","doi":"10.1111/1911-3846.12898","DOIUrl":"10.1111/1911-3846.12898","url":null,"abstract":"We examine how disclosure delivery mode—oral versus written—influences investors' reactions to managers' tone language. We hypothesize that listening to disclosures, relative to reading them, causes managers' qualitative word choices to have a greater impact on investors' judgments. We theorize that this effect occurs because oral delivery mode promotes heuristic processing and qualitative tone language is an easy-to-process disclosure element. The results from an experiment in a conference call setting are consistent with our hypothesis and suggest a boundary condition. Specifically, the interaction of mode and tone language is significant in a setting where heuristic processing is likely (good earnings news) but not in a setting where investors are likely to scrutinize the disclosure (bad earnings news). Our results inform investors about the potential consequences of how they consume disclosures. Specifically, we show that investors are more susceptible to managers' tone language when listening to disclosures containing good news than when reading them.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12898","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47180015","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

Do consumers pay the corporate tax? 消费者缴纳公司税吗?

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-18 DOI: 10.1111/1911-3846.12897

Martin Jacob, Maximilian A. Müller, Thorben Wulff

引用次数: 0

The importance of audit partners' risk tolerance to audit quality 审计合伙人风险承受能力对审计质量的重要性

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-16 DOI: 10.1111/1911-3846.12896

Jeffrey Pittman, Sarah E. Stein, Delia F. Valentine

{"title":"The importance of audit partners' risk tolerance to audit quality","authors":"Jeffrey Pittman, Sarah E. Stein, Delia F. Valentine","doi":"10.1111/1911-3846.12896","DOIUrl":"10.1111/1911-3846.12896","url":null,"abstract":"Relying on their history of legal infractions to measure individuals' risk tolerance, we examine the association between engagement partners' risk appetites and audit quality in the United States. Criminology and economics research links infraction activity with enduring personality traits that capture an individual's risk tolerance. Our evidence supports the prediction that partners known to engage in risky off-the-job behaviors conduct lower quality audits. Specifically, we find that clients of partners with prior legal infractions exhibit a higher likelihood of material misstatements revealed through subsequent restatements, greater propensity to misstate based on the F-score, more instances of “missed” material weaknesses, and less timely loss recognition, while also paying lower audit fees. In cross-sectional results consistent with expectations, we generally find that the impact of partners' risk tolerance on audit quality is more heavily concentrated in clients of non–Big 4 firms and offices without industry expertise. Collectively, our analysis contributes to emerging research on the role that individual partner characteristics play in shaping audit outcomes.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135922995","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

Auditing with data and analytics: External reviewers' judgments of audit quality and effort 使用数据和分析进行审计:外部审核人员对审计质量和工作的判断

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-07 DOI: 10.1111/1911-3846.12894

Scott A. Emett, Steven E. Kaplan, Elaine G. Mauldin, Jeffrey S. Pickerd

{"title":"Auditing with data and analytics: External reviewers' judgments of audit quality and effort","authors":"Scott A. Emett, Steven E. Kaplan, Elaine G. Mauldin, Jeffrey S. Pickerd","doi":"10.1111/1911-3846.12894","DOIUrl":"10.1111/1911-3846.12894","url":null,"abstract":"Audit firms hesitate to take full advantage of data and analytics (D&A) audit approaches because they lack certainty about how external reviewers evaluate those approaches. We propose that external reviewers use an effort heuristic when evaluating audit quality, judging less effortful audit procedures as lower quality, which could shape how external reviewers evaluate D&A audit procedures. We conduct two experiments in which experienced external reviewers evaluate one set of audit procedures (D&A or traditional) within an engagement review, while holding constant the procedures' level of assurance. Our first experiment provides evidence that external reviewers rely on an effort heuristic when evaluating D&A audit procedures—they perceive D&A audit procedures as lower in quality than traditional audit procedures because they perceive them to be less effortful. Our second experiment confirms these results and evaluates a theory-based intervention that reduces reviewers' reliance on the effort heuristic, causing them to judge quality similarly across D&A and traditional audit procedures.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135944770","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

CEO power and the strategic selection of accounting financial experts to the audit committee CEO权力与战略会计财务专家向审计委员会的选择

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-08-02 DOI: 10.1111/1911-3846.12892

Anna Bedford, Samir Ghannam, Matthew Grosse, Nelson Ma

{"title":"CEO power and the strategic selection of accounting financial experts to the audit committee","authors":"Anna Bedford, Samir Ghannam, Matthew Grosse, Nelson Ma","doi":"10.1111/1911-3846.12892","DOIUrl":"10.1111/1911-3846.12892","url":null,"abstract":"We examine the role of CEO power in the appointment of accounting financial experts (AFEs) to firm audit committees. Our results show that firms with powerful CEOs have a lower likelihood of appointing AFEs to their audit committees. In addition, effective AFEs—those characterized by experience, high status, and social independence from the CEO—are less likely to be appointed in firms with powerful CEOs. In the presence of powerful CEOs, effective AFEs are also less likely to be designated audit committee chair. The absence of effective AFEs is associated with the use of accounting discretion by powerful CEOs to meet or just beat analyst earnings forecasts. We find no evidence that AFEs choose to avoid serving on the boards of firms with powerful CEOs. Our findings are consistent with powerful CEOs influencing board appointments post-Sarbanes-Oxley Act through informal channels, including through their social ties with nominating committees. Our results suggest that current regulations prohibiting CEO involvement in the director nomination process and specifying who qualifies as a financial expert may be insufficient to ensure audit committee effectiveness and financial reporting quality.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12892","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135343133","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

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

{"title":"Cost uniqueness and information uncertainty","authors":"Mark Anderson, Raj Mashruwala, Ye Wang, Rong Zhao","doi":"10.1111/1911-3846.12893","DOIUrl":"10.1111/1911-3846.12893","url":null,"abstract":"Prior literature has studied firm uniqueness and its implications for capital market participants by investigating earnings uniqueness. We recognize that cost and revenue uniqueness provide separate insights about firm uniqueness because different forces drive firm-specific revenues and costs. Cost uniqueness is of special interest because costs are opaque to investors and more complex than revenues. Therefore, we examine how cost uniqueness affects information uncertainty from the perspective of external participants. We find that idiosyncratic stock return volatility increases with cost uniqueness independently and incrementally from revenue uniqueness. We validate these results with several cross-sectional tests that provide insights into the forces that drive the association between information uncertainty and cost uniqueness. In addition, we find that higher cost uniqueness is associated with finer cost disclosure. Overall, we show that cost uniqueness is an important dimension of cost behavior that is linked to strategic decision-making and affects uncertainty surrounding firm valuation.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12893","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136254877","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