Journal of Accounting and Public Policy最新文献_第10页

Misstatement verifiability and managers’ earnings warning decisions 错报可查证性与经理人盈余预警决策

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2023.107152

Jihun Bae , Jaeyoon Yu

{"title":"Misstatement verifiability and managers’ earnings warning decisions","authors":"Jihun Bae , Jaeyoon Yu","doi":"10.1016/j.jaccpubpol.2023.107152","DOIUrl":"10.1016/j.jaccpubpol.2023.107152","url":null,"abstract":"<div><p>We examine whether the verifiability of misstatements in prior forward-looking earnings disclosures contributes to managers’ decisions to issue earnings warnings. Using securities class action lawsuits from 1996 to 2019 pertaining to forward-looking earnings disclosures, we find that earnings warnings are positively associated with the verifiability of misstatements in such disclosures. The results survive entropy balancing and firm-fixed effects to mitigate endogeneity concerns. The positive relation between earnings warnings and misstatement verifiability is more pronounced for firms 1) with a general counsel in the top management team and 2) that face higher ex-ante litigation risk, and less pronounced for firms whose managers engaged in insider selling during the class action lawsuit period. We also show that earnings warnings help to increase the likelihood of a lawsuit dismissal (i.e., lowering litigation costs) when the lawsuit involves misstatements that are more (rather than less) verifiable. Taken together, our findings suggest that managers issue earnings warnings when it helps to reduce litigation costs, consistent with the notion that managers can achieve a greater reduction in litigation costs by issuing earnings warnings.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"42 6","pages":"Article 107152"},"PeriodicalIF":3.6,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0278425423001126/pdfft?md5=f1b8d4f3d10f1b50755a0c51f216bffd&pid=1-s2.0-S0278425423001126-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135707297","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

Tone management and stock price crash risk 基调管理和股价崩盘风险

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2023.107155

Doron Reichmann

引用次数: 0

Due process as a legitimating mechanism: Participation and responsiveness in the development of IFRS 17: Insurance contracts 正当程序作为合法化机制:参与和响应《国际财务报告准则第17号:保险合同》的制定

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2023.107150

Miguel Arce, Begoña Giner, Mohammed Amin Taleb

{"title":"Due process as a legitimating mechanism: Participation and responsiveness in the development of IFRS 17: Insurance contracts","authors":"Miguel Arce, Begoña Giner, Mohammed Amin Taleb","doi":"10.1016/j.jaccpubpol.2023.107150","DOIUrl":"10.1016/j.jaccpubpol.2023.107150","url":null,"abstract":"<div><p>This paper investigates the role of due process in legitimizing the International Accounting Standards Board (IASB) and uses the development of IFRS 17-Insurance Contracts (IASB, 2017a) as a case study. It examines stakeholders’ participation and assesses the IASB’s responsiveness to the views expressed in the comment letters. It focuses on changes in recognition, valuation, and disclosure during the 10-year process, in which the Financial Accounting Standards Board (FASB) played a relevant role. For input and through-put legitimacy analysis, we conduct content analysis of comment letters and consult additional sources to understand key concerns in insurance accounting. The IASB received substantial feedback from diverse stakeholders and geographical regions, primarily preparers and European constituents. Our findings indicate that decisions throughout the standard-setting process align with stakeholders’ interests, without preferential treatment for any groups, affirming the institution’s legitimacy was preserved. This confirms that the IASB’s due process can be seen as a shield against political and constituent pressures. Nevertheless, this study cannot definitively attribute identified changes solely to comment letters, as other channels may have been equally influential.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"42 6","pages":"Article 107150"},"PeriodicalIF":3.6,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0278425423001102/pdfft?md5=437fbd8d70c1824496e7b07c13124fb4&pid=1-s2.0-S0278425423001102-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135761238","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

Cannabis financial statement audits in Canada before and after legalization: A “joint” analysis 加拿大大麻合法化前后的财务报表审计:“联合”分析

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2023.107153

James D. Brushwood , Michelle A. Draeger , Eric T. Rapley

{"title":"Cannabis financial statement audits in Canada before and after legalization: A “joint” analysis","authors":"James D. Brushwood , Michelle A. Draeger , Eric T. Rapley","doi":"10.1016/j.jaccpubpol.2023.107153","DOIUrl":"10.1016/j.jaccpubpol.2023.107153","url":null,"abstract":"<div><p>Cannabis has become a multi-billion-dollar worldwide industry and presents accountants with unique challenges and opportunities. This descriptive study examines characteristics of financial statement audits for this budding industry in Canada, one of the first countries to legalize recreational adult use of cannabis. Consistent with cannabis audit clients having higher risk, we find they incur more audit fees before and after legalization than a matched sample of non-cannabis companies. Cannabis companies also pay more non-audit fees before and after legalization, consistent with additional business opportunities for their auditors. The size of cannabis companies grew substantially after Canada’s 2018 legalization, corresponding with increased occurrences of Big 4 cannabis company audits. However, compared to a matched sample of non-cannabis companies and controlling for size, cannabis companies are less (more) likely to be audited by a Big 4 (second-tier) firm. This observation is likely attributed to the reputation risk from being associated with a cannabis client, which is potentially higher for Big 4 firms than second-tier firms.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"42 6","pages":"Article 107153"},"PeriodicalIF":3.6,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135762268","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

Stakeholder conflict and standard-setting foundation oversight 利益相关者冲突与标准制定基金会监督

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2023.107122

Amanda M. Convery , Matt Kaufman , Terry D. Warfield

{"title":"Stakeholder conflict and standard-setting foundation oversight","authors":"Amanda M. Convery , Matt Kaufman , Terry D. Warfield","doi":"10.1016/j.jaccpubpol.2023.107122","DOIUrl":"10.1016/j.jaccpubpol.2023.107122","url":null,"abstract":"<div><p>This study examines foundation oversight authority as a distinct tool used to maintain the accounting profession’s delegated authority to set standards. Prior literature traditionally focuses on the standard-setting boards and technical arguments surrounding proposed accounting standards. We examine whether the Financial Accounting Foundation (FAF) can manage stakeholder conflict and legitimize contentious activity through exercise of its oversight role. The presented case is a qualitative analysis of the FAF’s <em>GASB Scope of Authority</em> project, a rare public exercise of FAF oversight authority, in which the FAF applied its authority despite stakeholder disagreement on the line between oversight and standard setting. We observe the FAF’s oversight of standard setting due process as opposed to the content of proposed standard setting projects. The policy formalizes private consultation at this blurred boundary to safeguard board autonomy and delegated authority. Implications and precedence for the FASB and other contentious accounting issues (e.g., deliberations around ESG reporting) are discussed.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"42 6","pages":"Article 107122"},"PeriodicalIF":3.6,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0278425423000716/pdfft?md5=28af198166a32c9abbb21f2ec049e229&pid=1-s2.0-S0278425423000716-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135970740","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 United States Tax Court judge attributes influence the resolution of corporate tax disputes? 美国税务法院法官属性是否影响公司税务纠纷的解决?

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2023.107156

Bradley P. Lindsey , Sophie McDonnell , William J. Moser

{"title":"Do United States Tax Court judge attributes influence the resolution of corporate tax disputes?","authors":"Bradley P. Lindsey , Sophie McDonnell , William J. Moser","doi":"10.1016/j.jaccpubpol.2023.107156","DOIUrl":"10.1016/j.jaccpubpol.2023.107156","url":null,"abstract":"<div><p>Corporate taxpayers can have economically meaningful disputes with the United States Internal Revenue Service (IRS) that ultimately involve the federal judiciary. In an attempt to reduce the number of corporate tax disputes going to trial and reduce the amount of time between when corporate taxpayers file a petition with the United States Tax Court (USTC) and resolution of the case, politicians and judges have placed greater emphasis on negotiated settlements as opposed to Tax Court trials. In this paper, we investigate whether the personal attributes of the Tax Court judge assigned to the case (political ideology, tenure on the bench and professional experience) influence corporate taxpayers and the IRS to reach a negotiated settlement or proceed to trial. Overall, our results show that Tax Court judges who are conservative, have private practice experience, have governmental legislative experience, and have longer tenure on the Tax Court bench are more likely to preside over disputes resolved through a negotiated settlement as opposed to going to a trial.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"42 6","pages":"Article 107156"},"PeriodicalIF":3.6,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136128263","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

Auditor's professional judgment, audit efficiency and interplay between legal liability and regulatory oversight 审计人员的职业判断、审计效率以及法律责任与监管监督的相互作用

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2023.107130

Francois Larmande , Cédric Lesage

引用次数: 0

The dark side of auditor pay disparity: Evidence from audit adjustments 审计人员薪酬差异的阴暗面:来自审计调整的证据

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2023.107133

Lijing Tong , Lu Xie , Min Zhang

{"title":"The dark side of auditor pay disparity: Evidence from audit adjustments","authors":"Lijing Tong , Lu Xie , Min Zhang","doi":"10.1016/j.jaccpubpol.2023.107133","DOIUrl":"10.1016/j.jaccpubpol.2023.107133","url":null,"abstract":"<div><p><span>This study examines the relation between auditor pay disparity and audit adjustments, and finds that offices with higher pay disparity are associated with lower magnitudes of audit adjustments. Further analysis suggests that the negative influence on audit adjustment is primarily driven by abnormal pay disparity. These results align with Equity Theory, which posits that pay disparity leads to employees experiencing feelings of resentment and shirking their duties, consequently further harming auditors’ work performance. In additional tests, we find that the association between pay disparity and audit adjustments is more pronounced when auditors bear greater economic pressure in life or when auditors contribute a higher per capita revenue to the office. Moreover, we find that audit offices could relieve the negative effects of pay disparity by providing low-level auditors with higher </span>salary and more opportunities for accumulating human capital. Overall, our study provides important evidence on the role of pay disparity regarding audit outcomes and enriches the literature on auditor compensation.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"42 6","pages":"Article 107133"},"PeriodicalIF":3.6,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135433950","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

The Journal of Accounting and Public Policy at 40: A bibliometric analysis 40岁的《会计与公共政策杂志》：文献计量学分析

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2022.107003

H. Kent Baker , Satish Kumar , Debidutta Pattnaik , Nitesh Pandey

引用次数: 3

China audit research: Achievements, challenges, and opportunities 中国审计研究：成就、挑战与机遇

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-11-01 DOI: 10.1016/j.jaccpubpol.2022.106962

Jeffrey Pittman , Zhifeng Yang

引用次数: 0