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Aggressive Reporting and Probabilistic Auditing in a Principles-Based Environment

Bijkerk, Suzanne H.; Karamychev, Vladimir A.; Swank, Otto H. - Tinbergen Instituut - 2013

We analyze the reporting strategies of firms and the investigation strategies of auditors in an archetype principles-based financial reporting system. To this end, we add a verification stage to a standard cheap-talk game, and apply the resulting game to financial reporting. We show that for a...

Persistent link: https://www.econbiz.de/10011255938

Forecasting Earnings Forecasts

Bruijn, Bert de; Franses, Philip Hans - Tinbergen Instituut - 2013

We analyze earnings forecasts retrieved from the I/B/E/S database concerning 596 firms for the sample 1995 to 2011, with a specific focus on whether these earnings forecasts can be predicted from available data. Our main result is that earnings forecasts can be predicted quite accurately using...

Persistent link: https://www.econbiz.de/10011255828

Are CEOs incentivized to avoid Corporate Taxes? - Empirical Evidence on Managerial Bonus Contracts

Schmittdiel, Heiner - Tinbergen Instituut - 2014

In this paper, we test empirically whether there is a relationship between corporate income taxes and CEO bonus payments. Using Compustat and ExecuComp data from 1992 to 2010, we find mixed results. Looking at the whole sample, the average bonus contract rewards tax savings excessively in...

Persistent link: https://www.econbiz.de/10011256064

How Informative are the Unpredictable Components of Earnings Forecasts?

Bruijn, Bert de; Franses, Philip Hans - Tinbergen Instituut - 2015

An analysis of about 300000 earnings forecasts, created by 18000 individual forecasters for earnings of over 300 S&P listed firms, shows that these forecasts are predictable to a large extent using a statistical model that includes publicly available information. When we focus on the...

Persistent link: https://www.econbiz.de/10011256066

The Degradation of Distorted Performance Measures

Sloof, Randolph; Praag, Mirjam van - Tinbergen Instituut - 2008

Baker (2002) has demonstrated theoretically that the quality of performance measures used in compensation contracts hinges on two characteristics: noise and distortion. These criteria, though, will only be useful in practice as long as the noise and distortion of a performance measure can be...

Persistent link: https://www.econbiz.de/10011256322

What drives the Quotes of Earnings Forecasters?

Bruijn, Bert de; Franses, Philip Hans - Tinbergen Instituut - 2012

Earnings forecasts can be useful for investment decisions. Research on earnings forecasts has focused on forecast performance in relation to firm characteristics, on categorizing the analysts into groups with similar behaviour and on the effect of an earnings announcement by thefirm on future...

Persistent link: https://www.econbiz.de/10011257426

Transaction Management: Value Creation by Reducing Transaction Costs

Butter, Frank A.G. den - Tinbergen Instituut - 2010

This discussion paper led to a publication in (W.D. Nelson (Ed.)), <I>Advances in Business and Management</I> (pp. 1-32), New York: Nova Publishers, 2011. In this era of globalization we see an increase in specialization: the production chain issplit up in more and more parts and the production of...</i>

Persistent link: https://www.econbiz.de/10011255533

Labour Market Effects of International Fragmentation of Production; Evidence from a Survey and Case Studies in the Dutch Industry

Berghuis, Ebel; Butter, Frank A.G. den - Tinbergen Instituut - 2013

of this outsourcing of tasks is a major concern, both for the country that outsources tasks and for the country to which … tasks are outsourced. This paper discusses the labour market effects of outsourcing in the Netherlands using a survey … interviews and survey make clear that a major motive for outsourcing is to organise production in such a way that total …

Persistent link: https://www.econbiz.de/10011256612

Procurement: The Transaction Costs Perspective in a Globalising World

Butter, Frank A.G. den - Tinbergen Instituut - 2007

Fragmentation of production into more and more complex supply chains is a prominent feature of globalisation. It implies that transaction costs as part of total costs of ownership carry a large weight in procurement decisions. An analysis of the various types of transaction costs is also...

Persistent link: https://www.econbiz.de/10011257331

Managing Transaction Costs in International Production; Evidence on Entrepreneurship from Case Studies in The Netherlands

Berghuis, Ebel; Butter, Frank A.G. den - Tinbergen Instituut - 2013

This era of globalisation is characterized by an ongoing international fragmentation of production where the supply chain is split up in more and more parts. The traditional Ricardian theory of trade in products governed by comparative advantages is replaced by a modern theory of trade in tasks....

Persistent link: https://www.econbiz.de/10011257525