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Do Digital Technology Firms Earn Excess Profits? An Alternative Perspective
Rajgopal, Shivaram; Srivastava, Anup; Zhao, Rong - 2021
Regulators have alleged that digital giants (Alphabet, Facebook, Microsoft, Apple, and Amazon) have misused their market power to earn abnormal profits. Research that systematically documents whether technology firms earn abnormal profits is limited, arguably because (i) U.S. GAAP based...
Persistent link: https://www.econbiz.de/10013239505
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A Guide to Earnings Quality
Dichev, Ilia D. - 2013
This teaching guide is based on a comprehensive survey as well as in-depth interviews of Chief Financial Officers (CFOs). We ask the CFOs about the definition and drivers of earnings quality, with a special emphasis on the prevalence and detection of earnings misrepresentation. CFOs believe that...
Persistent link: https://www.econbiz.de/10013073661
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The Misrepresentation of Earnings
Dichev, Ilia D. - 2015
We ask nearly 400 CFOs about the definition and drivers of earnings quality, with a special emphasis on the prevalence and detection of earnings misrepresentation. CFOs believe that the hallmarks of earnings quality are sustainability, absence of one-time items, and backing by actual cash flows....
Persistent link: https://www.econbiz.de/10013034441
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Earnings Quality : Evidence from the Field
Dichev, Ilia D. - 2013
The final working paper version: 'http://ssrn.com/abstract=2103384' http://ssrn.com/abstract=2103384.Presentation slides: "http://ssrn.com/abstract=2347428" http://ssrn.com/abstract=2347428.We provide insights into earnings quality from a survey of 169 CFOs of public companies and in-depth...
Persistent link: https://www.econbiz.de/10013081032
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Earnings Quality on the Street
Khan, Urooj; Peddireddy, Venkat; Rajgopal, Shivaram - 2019
To understand how practitioners operationalize evaluations of earnings quality, we obtain a proprietary dataset of 1,029 reports on aggressive reporting practices over 2003-2015 for 348 unique firms published by a research firm (RF) that sells such data to institutional clients. From these...
Persistent link: https://www.econbiz.de/10014107685
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Is Silence Golden? An Empirical Analysis of Firms that Stop Giving Quarterly Earnings Guidance
Chen, Shuping; Matsumoto, Dawn A.; Rajgopal, Shivaram - 2006
We investigate a sample of 96 firms that publicly renounced quarterly EPS guidance in the post-FD period (10/2000 to 1/2006). We find that stoppers have poor trailing stock return performance and lower institutional ownership. We document an average -4.8% three-day return around the announcement...
Persistent link: https://www.econbiz.de/10014062011
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Non-Audit Services and Financial Reporting Quality : Evidence from 1978-1980
Koh, Kevin; Rajgopal, Shivaram; Srinivasan, Suraj - 2011
We provide evidence on the long standing concern on auditor conflicts of interest from providing non-audit services (NAS) to audit clients by using rarely explored NAS fee data from 1978-80. Using this earlier setting, we find cross-sectional evidence of improved earnings quality when auditors...
Persistent link: https://www.econbiz.de/10014177281
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Measuring Audit Quality
Rajgopal, Shivaram; Srinivasan, Suraj; Zheng, Xin - 2020
In this paper, we document 45 specific allegations related to audit deficiencies based on GAAS, as detailed in 141 AAERs and 153 securities class action lawsuits over the violation years 1978–2016. Next, we use these allegations to validate existing popular proxies of audit quality. Of all the...
Persistent link: https://www.econbiz.de/10014359333
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Non-audit services and financial reporting quality : evidence from 1978 - 1980
Koh, Kevin; Rajgopal, Shivaram; Srinivasan, Suraj - 2011 - Rev.
We provide evidence on the long standing concern on auditor conflicts of interest from providing non-audit services (NAS) to audit clients by using rarely explored NAS fee data from 1978-80 Using this earlier setting, we find cross-sectional evidence of improved earnings quality when auditors...
Persistent link: https://www.econbiz.de/10009241457
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Do the FASB's Standards Add Shareholder Value?
Khan, Urooj - 2017
in estimation risk. The average standard is a non-event from the investors' perspective. We find that 104 of the 138 …. Surprisingly, 25 standards are associated with an increase in estimation risk. In cross-section, we find that firms with higher … levels of information asymmetry, lower contracting costs, and firms that experience a decrease in estimation risk are those …
Persistent link: https://www.econbiz.de/10012950531