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Why have measures of earnings quality changed over time?

Srivastava, Anup - In: Journal of Accounting and Economics 57 (2014) 2, pp. 196-217

The properties of earnings have changed dramatically over the past 40 years. Prior studies interpret this trend as a decline in earnings quality but disagree on whether it results from changes in the real economy or changes in accounting standards. I find that each new cohort of listed firms...

Persistent link: https://www.econbiz.de/10010785028

Accounting standards and debt covenants: Has the “balance sheet approach” led to a decline in the use of balance sheet covenants?

Demerjian, Peter R. - In: Journal of Accounting and Economics 52 (2011) 2, pp. 178-202

Recent years have seen a sharp decline in the use of balance sheet-based covenants in private debt contracts. I hypothesize that changes in accounting standards can explain part of this decline. Standard setting has shifted towards a “balance sheet approach”, which I predict has made the...

Persistent link: https://www.econbiz.de/10011043062

Towards a theory of accounting regulation: A discussion of the politics of disclosure regulation along the economic cycle

Wagenhofer, Alfred - In: Journal of Accounting and Economics 52 (2011) 2, pp. 228-234

The paper by Bertomeu and Magee (this issue) endogenizes accounting regulation by a majority-seeking regulator and examines how the economic cycle affects mandatory reporting quality. This discussion puts the paper in the broader context of a theory of accounting regulation. Then, it focuses on...

Persistent link: https://www.econbiz.de/10010572410

From low-quality reporting to financial crises: Politics of disclosure regulation along the economic cycle

Bertomeu, Jeremy; Magee, Robert P. - In: Journal of Accounting and Economics 52 (2011) 2, pp. 209-227

This paper examines how financial reporting regulations affect, and respond to, macroeconomic cycles by exploring a positive framework in which regulators subject to political pressures respond to cyclical demands by borrowers and lenders. We establish that, as economic conditions initially...

Persistent link: https://www.econbiz.de/10010572422

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

Why do analysts revise their stock recommendations after earnings announcements?

Yezegel, Ari - In: Journal of Accounting and Economics 59 (2015) 2, pp. 163-181

Recent research finds that many analyst recommendation revisions take place shortly after earnings announcements. Altinkilic and Hansen (2009) attribute the clustering of recommendations to analysts strategically piggybacking on earnings information to improve the perceived performance of their...

Persistent link: https://www.econbiz.de/10011208567

Strategic silence, insider selling and litigation risk

Billings, Mary Brooke; Cedergren, Matthew C. - In: Journal of Accounting and Economics 59 (2015) 2, pp. 119-142

Prior work finds that managers beneficially time their purchases, but not sales, prior to forecasts. Focusing on if (as opposed to when) a forecast is given, we link insider selling to silence in advance of earnings disappointments. This raises the question of whether the absence of...

Persistent link: https://www.econbiz.de/10011208568

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

Do baths muddy the waters or clear the air?

Haggard, K. Stephen; Howe, John S.; Lynch, Andrew A. - In: Journal of Accounting and Economics 59 (2015) 1, pp. 105-117

We examine the information environments of firms following large, non-recurring charges (“baths”). We test competing hypotheses about the consequences of a bath—a bath either improves the information environment (the transparency hypothesis) or degrades it (the opacity hypothesis)....

Persistent link: https://www.econbiz.de/10011189766

CEO tenure and earnings management

Ali, Ashiq; Zhang, Weining - In: Journal of Accounting and Economics 59 (2015) 1, pp. 60-79

This study examines changes in CEOs׳ incentive to manage their firms׳ reported earnings during their tenure. Earnings overstatement is greater in the early years than in the later years of CEOs׳ service, and this relation is less pronounced for firms with greater external and internal...

Persistent link: https://www.econbiz.de/10011189767

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