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Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities

Maurer, Raimond - 2014

Life insurers use accounting and actuarial techniques to smooth reporting of firm assets and liabilities, seeking to transfer surpluses in good years to cover benefit payouts in bad years. Nevertheless, these techniques been criticized as they make it difficult to assess insurers' true financial...

Persistent link: https://www.econbiz.de/10013053850

Continuing Dangers of Disinformation in Corporate Accounting Reports

Kane, Edward J. - 2009

Insiders can artificially deflect the market prices of financial instruments from their full-information or inside value' by issuing deceptive accounting reports. Incentive support for disinformational activity comes through forms of compensation that allow corporate insiders to profit...

Persistent link: https://www.econbiz.de/10012767752

Understanding the Accrual Anomaly

Wu, Jin (Ginger) - 2008

(ii) adding investment- based factors into standard factor regressions substantially reduces the magnitude of the accrual … anomaly. High accrual firms also have similar corporate governance and entrenchment indexes as low accrual firms. This … evidence suggests that the accrual anomaly is more likely to be driven by optimal investment than by investor overreaction to …

Persistent link: https://www.econbiz.de/10012773304

Competition and Bank Opacity

Jiang, Liangliang - 2014

Did regulatory reforms that lowered barriers to competition among U.S. banks increase or decrease the quality of information that banks disclose to the public and regulators? We find that an intensification of competition reduced abnormal accruals of loan loss provisions and the frequency with...

Persistent link: https://www.econbiz.de/10013039766

Managing Annual Accounting Reports to Avoid State Taxes : An Analysis of Property-Casualty Insurers

Petroni, Kathy Ruby; Shackelford, Douglas A. - 2021

We hypothesize that, in their annual accounting reports, insurers allocate premiums and losses from multistate policies to reduce total state taxes. To test this prediction, we examine firm-level data, collected from the publicly-available statutory reports used to compute tax bases and filed...

Persistent link: https://www.econbiz.de/10013220791

Smokescreen : How Managers Behave When They Have Something to Hide

Artiga González, Tanja - 2013

We study financial reporting and corporate governance in 218 companies accused of price fixing. These firms engage in evasive financial reporting strategies, including earnings smoothing, segment reclassification, and restatements. In corporate governance, cartel firms favor outside directors...

Persistent link: https://www.econbiz.de/10013085128

Australian Government Balance Sheet Management

Au-Yeung, Wilson - 2010

Since almost eliminating net debt, the Australian Government%u2019s attention has turned to the financing of broader balance sheet liabilities, such as public sector superannuation. Australia will be developing a significant financial asset portfolio in the %u2018Future Fund%u2019 to smooth the...

Persistent link: https://www.econbiz.de/10012761284

Deferred Tax Positions and Incentives for Corporate Behavior Around Corporate Tax Changes

Poterba, James M. - 2007

A firm's deferred tax position can influence how it is affected by a transition from one tax regime to another. We compile disaggregated deferred tax position data for a sample of large U.S. firms between 1993 and 2004 to explore how these positions might affect firm behavior before and after a...

Persistent link: https://www.econbiz.de/10012777607

Corporate Deleveraging

DeAngelo, Harry - 2016

Proactive deleveraging from all-time peak market leverage (ML) to near-zero ML and negative net debt is the norm among 4,476 nonfinancial firms with five or more years of post-peak data. ML is 0.543 at the historical peak and 0.026 at the later trough for the median firm in this sample, with a...

Persistent link: https://www.econbiz.de/10012979355

General Equilibrium Effects of (Improving) Public Employment Programs : Experimental Evidence from India

Muralidharan, Karthik - 2017

markets. We estimate both effects, exploiting a large-scale experiment randomized across 157 sub-districts (with an average …

Persistent link: https://www.econbiz.de/10012947627