We first examine whether analysts with certain characteristics that prior research has identified are related to superior forecasting ability systematically time their forecast revisions later in the fiscal quarter. We then examine whether this superior ability persists after controlling for...

We examine the association between borrower (firm) and lender (bank) state ownership and accounting conservatism for a sample of Chinese firms. We hypothesize that state-owned enterprises (SOEs) adopt less conservative accounting than non-state-owned enterprises (NSOEs) because lenders are less...

We first examine whether analysts with certain characteristics that prior research has identified are related to superior forecasting ability systematically time their forecast revisions later in the fiscal quarter. We then examine whether this superior ability persists after controlling for...

We provide evidence on the effects of SFAS 133 on the risk relevance of accounting measures of bank derivative exposures to bond markets. First, we find that interest rate derivatives classified as hedging are more negatively associated with fixed-rate bond spreads after SFAS 133. We also find...

We examine auditor independence in the banking industry by analyzing the relation between fees paid to the auditors and the extent of earnings management through loan loss provisions (LLP). We also examine whether this relation differs across large banks whose managements are required under the...

Theory suggests that the informativeness of price at the time of an earnings announcement increases with the number of informed traders who possess superior information to process news from firm disclosures (Kyle 1985; Admati and Pfleiderer 1988; Kim and Verrecchia 1994). In this paper, we investigate...

Despite the importance of sell-side financial analysts as information intermediaries in the capital market, little is known about how managerial equity ownership associates with their information environment. Using Barron, Kim, Lim and Stevens' (1998) framework of measuring information...

We examine the relation between auditor reputation and earnings management in banks using a sample of banks from 29 countries. In particular, we examine the implications of two aspects of auditor reputation, auditor type and auditor industry specialization, for earnings management in banks. We...

The Federal Deposit Insurance Corporation Improvement Act (FDICIA) of 1991 was designed, among other things, to introduce risk-based deposit insurance, increase capital requirements, and improve banks' internal controls. Of particular interest in this study are the requirements for annual audit...

We investigate the relation between societal trust and managers' decisions to voluntarily issue earnings forecasts. We reason that managers are more (less) likely to issue earnings forecasts in high-trust (low-trust) countries because these voluntary disclosures are viewed by investors as a...