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Journal Articles
The Accounting Review 1–26.
Published: 02 April 2024
.... 13 01 2021 18 01 2024 07 03 2024 2024 integrity tone at the top auditor risk indiscretions THE ACCOUNTING REVIEW Vol. XX, No. XX MONTH YEAR pp. 1 26 American Accounting Association DOI: 10.2308/TAR-2021-0026 Do Auditors View Off-the-Clock Misbehavior by Company...
Journal Articles
Journal Articles
The Accounting Review (2020) 95 (6): 125–149.
Published: 01 November 2020
... returns: future realized stock returns, errors in forecasting fundamentals, errors in forecasting the expected return to risk, and biases relating to analysts' incentives. Our results suggest that all four sets help explain target price implied returns, with errors in forecasting the expected return...
Includes: Supplementary data
Journal Articles
The Accounting Review (2020) 95 (5): 57–93.
Published: 01 September 2020
.... The consequences for capital market outcomes, such as risk, risk premia, interest rates, firm prices, and the cost of capital, depend on investor preferences and whether improvements are to firm-specific or economy-wide information. We show that interest rates and risk premia tend to move in opposite directions...
Journal Articles
The Accounting Review (2020) 95 (2): 1–29.
Published: 01 March 2020
...Tim Baldenius; Beatrice Michaeli ABSTRACT We consider the optimal allocation of decision rights over noncontractible specific investments. Risk-averse business unit managers each engage in general (stand-alone) operations and invest in joint projects that benefit their own and other divisions...
Journal Articles
The Accounting Review (2019) 94 (5): 219–246.
Published: 01 September 2019
...Shane M. Heitzman; Maria Ogneva ABSTRACT We find evidence that equity returns increase with the propensity for tax planning in a firm's industry. This risk premium is imposed on all firms in the industry, even those that are less aggressive than their peers. The industry-based risk premium...
Journal Articles
The Accounting Review (2015) 90 (3): 859–880.
Published: 01 May 2015
..., including the prediction of financial distress, the information content of earnings announcements, the information content of prices, accounting and market measures of risk, discretion in financial reporting, conservatism, and value relevance of financial statements. Included is a brief summary of some...
Journal Articles
The Accounting Review (2015) 90 (2): 785–817.
Published: 01 March 2015
... such as bid-ask spreads. Panel A presents the level of the index, whereas Panel B shows the times series of the two-day change. ambiguity risk ERC One potential limitation of using changes in the VIX to measure uncertainty shocks relates to the magnitude of the change...
Journal Articles
The Accounting Review (2015) 90 (1): 115–145.
Published: 01 January 2015
...Francesco Bova; Kalin Kolev; Jacob K. Thomas; X. Frank Zhang ABSTRACT Prior research documents a negative link between risk and executive holding of stock, but a corresponding positive link for options. We find a similar negative relation for non-executive holding of stock. Our finding...
Journal Articles
The Accounting Review (2014) 89 (6): 2181–2201.
Published: 01 November 2014
...Steven J. Kachelmeier; Tracie Majors; Michael G. Williamson ABSTRACT Risk-based auditing implies that auditors invest more (fewer) resources as reporting risks increase (decrease). We find from an interactive experiment that participants in an audit-like role reflect this reasoning to a lesser...