Contemporary Accounting Research最新文献_第9页

Foreign labor and audit quality: Evidence from newly hired H-1B visa holders 外籍劳工与审计质量：来自新聘用的 H-1B 签证持有者的证据

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2024-01-05 DOI: 10.1111/1911-3846.12927

Tracie Frost, Jiao Jing, Longfei Shang, Lixin (Nancy) Su

引用次数: 0

The mountains are high and the emperor is far away: Credit scoring and the infrastructure of surveillance capitalism in China 山高皇帝远：中国的信用评分和监控资本主义的基础设施

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-19 DOI: 10.1111/1911-3846.12925

Ruowen Xu, Yuval Millo, Crawford Spence

{"title":"The mountains are high and the emperor is far away: Credit scoring and the infrastructure of surveillance capitalism in China","authors":"Ruowen Xu, Yuval Millo, Crawford Spence","doi":"10.1111/1911-3846.12925","DOIUrl":"10.1111/1911-3846.12925","url":null,"abstract":"Previous research on calculative intermediaries shows how these effectively challenge, distort, and disrupt accounting practices in ways that policy-makers might not anticipate. The promises of surveillance capitalism—with its attendant data architectures, datafication processes, and technological sophistication—are different, supposing more accurate ways of reading individuals and greater calculative certainty overall. Yet there is little empirical research to explore how surveillance capitalism manifests itself at the organizational level, either conceptually or operationally. As a result, it remains uncertain whether such specters of omniscience are as haunting in reality as they appear in theory. We explore these themes by way of an ethnographic study into credit scoring in China, showing how intermediary organizations developed a multiplicity of credit scoring models based on machine learning and big data that differed both from original expectations and from each other. These different “renditions” of credit scoring suggest that the data architectures of surveillance capitalism are just as much subject to challenge and adaptation by intermediary organizations as calculative practices, such as accounting, are in more analog environments.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"41 2","pages":"781-808"},"PeriodicalIF":3.6,"publicationDate":"2023-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12925","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139172499","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

Auditor changes and management's issuance of earnings forecasts 审计师变更和管理层发布盈利预测

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-07 DOI: 10.1111/1911-3846.12922

Yonghong Jia, Xinghua Gao

{"title":"Auditor changes and management's issuance of earnings forecasts","authors":"Yonghong Jia, Xinghua Gao","doi":"10.1111/1911-3846.12922","DOIUrl":"10.1111/1911-3846.12922","url":null,"abstract":"Auditor changes are significant corporate events marking disruptions in the auditor-client relationship. Prior studies have primarily examined the impact of such changes on audit quality and investment decisions of market participants. We study the effect of auditor changes on the voluntary disclosure of forward-looking information. Managers may choose to reduce disclosure due to the possible adverse effect of the disruptions on disclosure credibility. Alternatively, shareholders may demand increased disclosure to intensify monitoring, as the auditor change signals potential issues between the company and the auditor. Employing multiple identification strategies, we find that firms are less likely to issue management earnings forecasts (MEFs) following auditor changes. We also find that governance quality mitigates the negative impact of auditor changes on the issuance of MEFs. Additionally, auditor changes are associated with lower market reactions to forecast releases. The overall evidence is consistent with the notion of reduced forecast credibility. Lastly, we conduct cross-sectional analyses on characteristics of the auditor changes and find evidence consistent with signaling and anticipated successor audit quality to be underlying mechanisms for the association between auditor changes and MEFs. Our study provides the first large sample evidence that auditor changes have a disruptive effect on the voluntary disclosure of forward-looking information.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"41 2","pages":"748-780"},"PeriodicalIF":3.6,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12922","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138545308","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 content of credit rating affirmations 信用评级申明的信息内容

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-07 DOI: 10.1111/1911-3846.12921

Boochun Jung, Asad Kausar, Byungki Kim, You-il Park, Chris, Jian Zhou

{"title":"Information content of credit rating affirmations","authors":"Boochun Jung, Asad Kausar, Byungki Kim, You-il Park, Chris, Jian Zhou","doi":"10.1111/1911-3846.12921","DOIUrl":"10.1111/1911-3846.12921","url":null,"abstract":"We examine the economic determinants and informational effects of credit rating affirmations (i.e., the reiteration of past credit ratings) for a sample of US public firms from 1995 to 2020. We find that credit rating affirmations typically follow major corporate events and changes in firm fundamentals that increase information uncertainty about a firm's creditworthiness, suggesting that affirmations reduce uncertainty. We further document that rating affirmations provide value-relevant information to equity and debt investors. Using a short-window event study method, we show that equity investors react positively to rating affirmations and that information uncertainty around affirmations diminishes. These findings are more pronounced for firms with non-investment-grade ratings. We further show that our results strengthen for firms with greater pre-affirmation information uncertainty. Finally, consistent with our information uncertainty reduction results from the stock market, we report that bond yield spreads decrease for affirmed firms. Again, the effect is more pronounced for firms with non-investment-grade ratings. In summary, we highlight the significant capital markets' effects of credit rating affirmations, an area that the literature has largely ignored.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"41 1","pages":"645-678"},"PeriodicalIF":3.6,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138545269","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

On the informativeness of unexpected exclusions from street earnings 论街头收益意外排除的信息量

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-07 DOI: 10.1111/1911-3846.12924

Brian Bratten, Stephannie Larocque, Teri Yohn

{"title":"On the informativeness of unexpected exclusions from street earnings","authors":"Brian Bratten, Stephannie Larocque, Teri Yohn","doi":"10.1111/1911-3846.12924","DOIUrl":"10.1111/1911-3846.12924","url":null,"abstract":"Exclusions from street earnings can include both expected exclusions, forecasted ex ante by analysts, and unexpected exclusions, revealed after earnings are reported. While prior research largely examines total exclusions from street earnings, unexpected exclusions reflect the news or surprise in exclusions. We investigate the properties and informativeness of unexpected exclusions for future profitability, benchmark beating, analyst forecast errors, and future stock returns. We find that unexpected exclusions represent a mix of transitory and recurring items and are informative about future street earnings. In an analysis of hand-collected analysts' reports, we find that unexpected exclusions are more likely to reflect misestimated recurring items when analysts forecasted exclusions, and unexpected transitory items when analysts did not forecast exclusions. We also examine benchmark-beating behavior, in which street earnings meet street forecasts but GAAP earnings miss GAAP forecasts. We observe that benchmark beating is more likely to occur when analysts forecast exclusions than when they do not. Moreover, we find unexpected exclusions are more persistent when street earnings meet street forecasts but GAAP earnings miss GAAP forecasts. These findings are consistent with recurring earnings amounts being opportunistically shifted to excluded items to meet analysts' street forecasts. Finally, we find some evidence that analysts and investors react to, but do not fully incorporate, the information in unexpected exclusions, based on forecast revisions and stock price reactions.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"41 2","pages":"809-841"},"PeriodicalIF":3.6,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138563444","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

Climatic disasters and distracted analysts 气候灾害与分心的分析师

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-12-07 DOI: 10.1111/1911-3846.12923

Yuqi Han, Connie X. Mao, Hongping Tan, Chi Zhang

引用次数: 0

Financial statement adequacy and firms' MD&A disclosures 财务报表充分性与企业并购披露

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-11-27 DOI: 10.1111/1911-3846.12919

Stephen V. Brown, Lisa A. Hinson, Jennifer Wu Tucker

引用次数: 0

Disclosure of tax-related critical audit matters and tax-related outcomes 披露与税务有关的重要审计事项和与税务有关的结果

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-11-20 DOI: 10.1111/1911-3846.12920

Katharine D. Drake, Nathan C. Goldman, Stephen J. Lusch, Jaime J. Schmidt

{"title":"Disclosure of tax-related critical audit matters and tax-related outcomes","authors":"Katharine D. Drake, Nathan C. Goldman, Stephen J. Lusch, Jaime J. Schmidt","doi":"10.1111/1911-3846.12920","DOIUrl":"10.1111/1911-3846.12920","url":null,"abstract":"Given that tax-related critical audit matters (tax CAMs) were prevalent among accelerated filers (18.5% of observations) during the initial year of CAM disclosures, we examine whether an auditor's disclosure of tax CAMs is associated with variation in tax-related financial reporting quality, tax avoidance, and tax-related earnings management. Finding an association between tax CAMs and one of these tax outcomes would indicate that the new auditor reporting standard has indirectly affected investors. Examining the first year of CAM disclosures, we do not find that tax CAMs are associated with broad proxies of tax-related audit or financial reporting quality (e.g., restatements, internal control weaknesses, comment letters) or tax avoidance (e.g., effective tax rates or book-to-tax differences). We do find that tax CAMs are associated with a modest increase in tax accrual quality, an increase in the reserve for unrecognized tax benefits, and a reduction in the likelihood of tax-related earnings management. However, we do not find these tax CAM effects persist into the second year of CAM reporting. Our evidence is consistent with tax CAM disclosures having a modest but short-lived effect on companies' reporting of tax accounts. Our findings should inform the PCAOB as they conduct their post-implementation review of the new audit reporting standard.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"41 2","pages":"719-747"},"PeriodicalIF":3.6,"publicationDate":"2023-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12920","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138526581","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

Demand uncertainty, inventory, and cost structure 需求不确定性、库存和成本结构

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-11-14 DOI: 10.1111/1911-3846.12918

Xin Chang, Wing Chun Kwok, George Wong

引用次数: 0

Estimating the sensitivity of CEO compensation to gross versus net accounting performance 估算首席执行官薪酬对会计业绩毛额和净额的敏感度

IF 3.6 3区管理学

Contemporary Accounting Research Pub Date : 2023-11-09 DOI: 10.1111/1911-3846.12917

Dirk E. Black, Shane S. Dikolli, Christian Hofmann, Thomas Pfeiffer

{"title":"Estimating the sensitivity of CEO compensation to gross versus net accounting performance","authors":"Dirk E. Black, Shane S. Dikolli, Christian Hofmann, Thomas Pfeiffer","doi":"10.1111/1911-3846.12917","DOIUrl":"10.1111/1911-3846.12917","url":null,"abstract":"In empirically estimating the relation between CEO compensation and accounting-based firm and peer performance, researchers often define the performance variables net of CEO compensation expense. We analytically show that a researcher's use of CEO compensation as a regression's dependent variable and as an expense in defining a regression's independent variables representing accounting-based firm and peer performance will bias the researcher's pay-for-performance and relative performance evaluation (RPE) regression coefficients. In a panel estimation of CEO compensation, we document an attenuation bias in the coefficients on net firm and net peer performance. This evidence may partially explain inferences of weak CEO incentives and limited usage of RPE in prior work. Our results imply that in CEO compensation regressions, a researcher can remove biases in inferring CEO incentives and RPE usage by using gross rather than net accounting performance variables—that is, by adding back CEO compensation expense to net accounting measures.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"41 1","pages":"255-291"},"PeriodicalIF":3.6,"publicationDate":"2023-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12917","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135291396","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