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The effects of firm-initiated clawback provisions on earnings quality and auditor behavior

Chan, Lilian H.; Chen, Kevin C.W.; Chen, Tai-Yuan; Yu, … - In: Journal of Accounting and Economics 54 (2012) 2, pp. 180-196

While firm-initiated compensation recovery (or clawback) provisions are gaining popularity and the recently enacted Dodd-Frank Act seeks to make the clawback of erroneously awarded compensation mandatory for all listed companies, little is known about their effectiveness. We find that the...

Persistent link: https://www.econbiz.de/10010594334

The information content of annual earnings announcements and mandatory adoption of IFRS

Landsman, Wayne R.; Maydew, Edward L.; Thornock, Jacob R. - In: Journal of Accounting and Economics 53 (2012) 1, pp. 34-54

trading volume – increases in countries following mandatory IFRS adoption, and conditions and mechanisms through which … increases occur. Findings suggest information content increased in 16 countries that mandated adoption of IFRS relative to 11 … that maintained domestic accounting standards, although the effect of mandatory IFRS adoption depends on the strength of …

Persistent link: https://www.econbiz.de/10010576560

The Sarbanes–Oxley act and cross-listed foreign private issuers

Li, Xi - In: Journal of Accounting and Economics 58 (2014) 1, pp. 21-40

I examine the short- and long-term impact of the 2002 Sarbanes–Oxley Act (SOX) on cross-listed foreign private issuers. Both short- and long-term test results suggest that the costs of SOX compliance significantly exceed its benefits and reduce the net benefits of cross-listings.

Persistent link: https://www.econbiz.de/10010906418

Differences in the information environment prior to seasoned equity offerings under relaxed disclosure regulation

Clinton, Sarah B.; White, Joshua T.; Woidtke, Tracie - In: Journal of Accounting and Economics 58 (2014) 1, pp. 59-78

The SEC promulgated the Securities Offering Reform (SOR) in 2005 to ease disclosure restrictions prior to seasoned equity offerings (SEOs). The SEC argued that SOR would improve the information environment, but critics claimed it would allow firms to hype their stock. This paper is the first to...

Persistent link: https://www.econbiz.de/10010906419

Public pension accounting rules and economic outcomes

Naughton, James; Petacchi, Reining; Weber, Joseph - In: Journal of Accounting and Economics 59 (2015) 2, pp. 221-241

We find a negative association between a state׳s fiscal condition and the use of discretion in applying Governmental Accounting Standards Board (GASB) rules to understate pension funding gaps. We also find that the use of discretion is negatively associated with states’ decisions to increase...

Persistent link: https://www.econbiz.de/10011208573

Creditor control rights, state of nature verification, and financial reporting conservatism

Tan, Liang - In: Journal of Accounting and Economics 55 (2013) 1, pp. 1-22

I examine the impact of state-contingent allocation of creditor control rights on financial reporting. Using a discontinuity analysis, I find that firms' financial reporting becomes more conservative immediately after covenant violations and this effect persists for at least eight quarters. The...

Persistent link: https://www.econbiz.de/10010608146

Assessing methods of identifying management forecasts: CIG vs. researcher collected

Chuk, Elizabeth; Matsumoto, Dawn; Miller, Gregory S. - In: Journal of Accounting and Economics 55 (2013) 1, pp. 23-42

This paper examines the characteristics of management forecasts available on Thomson First Call’s Company Issued Guidance (CIG) database relative to a sample of forecasts hand-collected through a search of company press releases. Due to the significantly lower cost of using CIG (relative to...

Persistent link: https://www.econbiz.de/10010608147

Non-discretionary conservatism: Evidence and implications

Lawrence, Alastair; Sloan, Richard; Sun, Yuan - In: Journal of Accounting and Economics 56 (2013) 2, pp. 112-133

A large body of accounting research finds that various contracting incentives lead managers to engage in conservative accounting practices. We extend existing research by modeling the impact of extant accounting rules on conservative accounting. Accounting rules typically require assets to be...

Persistent link: https://www.econbiz.de/10010729557

Did the SEC impact banks' loan loss reserve policies and their informativeness?

Beck, Paul J.; Narayanamoorthy, Ganapathi S. - In: Journal of Accounting and Economics 56 (2013) 2, pp. 42-65

During the late 1990s, the SEC alleged that banks were overstating loan loss allowances to establish cookie jar reserves. Their intervention in bank accounting culminated in 2001 with new guidance (SAB 102) designed to improve financial reporting quality. We show that banks' allowance estimation...

Persistent link: https://www.econbiz.de/10010729558

Mandatory IFRS reporting and changes in enforcement

Christensen, Hans B.; Hail, Luzi; Leuz, Christian - In: Journal of Accounting and Economics 56 (2013) 2, pp. 147-177

In recent years, reporting under International Financial Reporting Standards (IFRS) became mandatory in many countries …, across all countries, mandatory IFRS reporting had little impact on liquidity. The liquidity effects around IFRS introduction … reporting enforcement. There is little evidence of liquidity benefits in IFRS countries without substantive enforcement changes …

Persistent link: https://www.econbiz.de/10010729559

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