The variability of accounting accruals provides a measure of the normal level of managers' accounting discretion and has important implications for event studies of earnings management. We examine how this measure is related to the economic factors including both firm characteristics and...

Earnings management is a key issue for financial reporting. The purpose of this paper is to derive a set of indices to measure the pervasiveness of earnings management (PEM) using the properties of quarterly accrual volatility. The PEM index can be viewed as a quality measure of financial...

Psychological evidence predicts that sunny weather is associated with an upbeat mood. Although standard economic theory presumes invariant preferences and full rationality, the finance literature has documented a strong relationship between morning sunshine in the city of a country's stock...

This paper reports the results of a field study examining the use of TQM at 15 firms. The sample is drawn from winners and finalists of the RIT/USA Today Quality Cup. The authors interviewed 75 employees (5 per firm) including 14 executives, 44 middle managers, and 17 front line workers. The...

This paper reports preliminary results of a detailed audit of one component of the Producer Price Index (PPI), using data from a large muiltproduct company. We compare price indexes constructed in a variety of ways from the universe of products of a large pharmaceutical manufacturer in the US,...

I estimate changes in levels of union real wage growth associated with corporate takeovers and accompanying chief executive officer changes. The effects are statistically insignificant. The results are used to construct union wealth changes associated with corporate control events. Target fire...

In this paper, we assess the equity value relevance of disclosure-derived financial statement adjustments. Prior literature has explored only the incremental explanatory power of individual adjustments, or has assessed the superiority of earnings recast using only a subset of prescribed...