| 报告题目 | A Survey of Empirical Research in Financial Accounting | ||
| 报告人（单位） | Prof. Yuan Zhang | ||
| 点评人（单位） | 陈志斌 (会计系) | 点评人（单位） | 陈菊花 （会计系） |
| 时间地点 | 时间：2012年6月 5 日—6月9日上午9点 地点：九龙湖经管楼B201室 | ||
| 报告内容摘要 | | ||
| Course Objective The goal of this course is to survey selected topics on empirical research in financial accounting. For the topics we cover, we will focus on (1) the general theory/intuition and results of the literature; (2) the development of the literature; and (3) the methods used to address the research questions. Each topic has a set of required readings and a set of additional readings. The required readings provide the key materials for discussions in class. The additional readings either provide background for, or extend the required readings. Recommended General Reading Beaver, W., 1997, Financial reporting: An accounting revolution, third edition, (Prentice Hall, Englewood Cliffs, NJ). Campbell, J., Lo, A., A. MacKinlay, 1997, The econometrics of financial markets, (Princeton University Press, Princeton, New Jersey). Strunk Jr., W., E.B. White and R. Angell, 2000, The elements of style. Day 1: The association between accounting information and stock returns Required Reading 1. Kothari, S.P., 2001, Capital markets research in accounting, 2001, Journal of Accounting and Economics 31, 105-231. 2. Kothari, S.P., Karthik Ramanna, Douglas J. Skinner. 2010, Implications for GAAP from an analysis of positive research in accounting. Journal of Accounting and Economics 50, 2-3. 3. Collins, D., and S. P. Kothari, 1989, An analysis of the intertemporal and cross-sectional determinants of earnings response coefficients, Journal of Accounting and Economics 11, 143-181. 4. Hayn, C., 1995, The information content of losses, Journal of Accounting and Economics 20, 125-54. 5. Collins, D.W., E.L. Maydew and I. S. Weiss, 1997, Changes in the value-relevance of earnings and book values over the past forty years, Journal of Accounting and Economics,24 (1), 39-67. Additional Reading Ball, Ray and Philip Brown, 1968, An empirical evaluation of accounting income numbers, Journal of Accounting Research, 6, 159-178. Freeman, R. and S. Tse, 1992, “A non-linear model of security price responses to unexpected earnings,” Journal of Accounting Research 30: 185-209. Kothari, S.P., and Jerold L. Zimmerman, 1995, Price and return models, Journal of Accounting and Economics, 20, 155-192. Francis, J. and K. Schipper, 1999, Have financial statements lost their relevance?, Journal of Accounting Research, 37 (2), 319-352. Francis, J., K. Schipper and L. Vincent, 2002, Expanded disclosures and the increased usefulness of earnings announcements, The Accounting Review, 77 (3), 515-546. Day 2: Accrual accounting and pricing of accruals Required Reading 6. Dechow, P., 1994, Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals, Journal of Accounting & Economics,18, 3-42. 7. Subramanyam, K.R., 1996, The pricing of discretionary accruals, Journal of Accounting and Economics, 22: 249-281. 8. Sloan, R. 1996. Do stock prices fully reflect information in accruals and cash flows about future earnings? The Accounting Review 71(3): 289-315. 9. Xie, H. 2001. The mispricing of abnormal accruals. The Accounting Review 76, 357–374. 10. Kumar, K.R., G.V. Krishnan, 2008, The value-relevance of cash flows and accruals: The role of investment opportunities, The Accounting Review, 83 (4). 997-1040. Additional Reading Dechow, P., S.P. Kothari and R.L. Watts, 1998, The relation between earnings and cash flows, Journal of Accounting and Economics, 25 (2), 133-168. Barth, M.E., D.P. Cram and K.K. Nelson, 2001, Accruals and the prediction of future cash flows, The Accounting Review, 76 (1), 27-58. Day 3: Earnings management and earnings quality Required Reading 11. Dechow, P., R. Sloan and A. Sweeney, 1995, Detecting earnings management, The Accounting Review, 193-225. 12. Burgstahler, D., and I. Dichev. 1997. Earnings Management to Avoid Earnings Decreases and Losses. Journal of Accounting and Economics, Vol. 24, 99-126. 13. Dechow, P. and I. Dichev, 2002, The quality of accruals and earnings: the role of accrual estimation errors. The Accounting Review 77, supplement: 35-59. 14. Matsumoto, D.A., 2002, Management’s incentives to avoid negative earnings surprises, The Accounting Review, 77 (3), 483-514. 15. Francis, J., R. LaFond, P. Olsson and K. Schipper, 2003, The market pricing of accruals quality, Journal of Accounting and Economics 39, 2. 16. Doyle, J., W. Ge, and S. McVay, 2007, Determinants of weaknesses in internal control over financial reporting, Journal of Accounting and Economics, 44 (1-2), 193-223. 17. Dechow, P., Weili Ge, Catherine Schrand. Understanding earnings quality: A review of the proxies, their determinants and their consequences. Journal of Accounting and Economics 50, 2-3. Additional Reading Schipper, K., 1989, Commentary on earnings management, Accounting Horizons, 3, 91-102. Dechow, P.M., and D.J. Skinner. 2000. Earnings Management: Reconciling the Views of Accounting Academics, Practitioners, and Regulators. Accounting Horizons 14: 235-50. Schipper, K., L. Vincent, 2003, Earnings quality, Accounting Horizons17 (Supplement), 97-110., DeFond, M.L. 2010. Earnings quality research: Advances, challenges and future research.Journal of Accounting and Economics 50, 2-3. Day 4: Management disclosures; security analysts Security Analysts Required Reading 19. Easterwood, J.C. and S.R. Nutt, 1999, Inefficiency in analysts’ earnings forecasts: Systematic misreaction or systematic optimism?, Journal of Finance, 54 (5), 1777-1797. 20. O’Brien, P. C., M. F. McNichols, and H. W. Lin, 2005, Analyst impartiality and investment banking relationships, Journal of Accounting Research, 43 (4), 623-650. Additional Reading Schipper, K., 1991, Commentary on analysts’ forecasts, Accounting Horizons, 5 (4), 105-121. Bradshaw, M.T., 2009, Analyst Information Processing, Financial Regulation, and Academic Research, The Accounting Review 84 (4): 1073-1083. Management Disclosure Required Reading 21. Botosan, C.A., 1997, Disclosure level and the cost of equity capital, The Accounting Review,72 (3), 325-350. 22. Soffer, L., S. Thiagarajan and B.R. Walther, 2000, Earnings preannouncement strategies, Review of Accounting Studies,5 (1), 5-26. 23. Hope, O. and W.B. Thomas, 2008, Managerial empire building and firm disclosure, Journal of Accounting Research 46 (3), 591-626. 24. Anantharaman, D., and Y. Zhang, 2011, Cover Me: Managers’ Response to Changes in Analyst Coverage, The Accounting Review, Vol. 86, No. 6, November 2011. 25. Beyer Anne, D.A. Cohen, T.Z. Lys, B.R Walther. 2010. The financial reporting environment: Review of the recent literature. Journal of Accounting and Economics 50, 2-3. Additional Reading King, R., G. Pownall and G. Waymire, 1990, Expectations adjustment via timely earnings forecast disclosure: Review, synthesis, and suggestions for future research, Journal of Accounting Literature, 9, 113-144. Healy, P.M. and K.G. Palepu, 1993, The effect of firms’ financial disclosure strategies on stock prices, Accounting Horizons, 7 (1), 1-11. O’Brien, P., 1988, “Analysts’ forecasts as earnings expectations,” Journal of Accounting and Economics 10, 53-83. Francis, J. and L. Soffer, 1997, “The relative informativeness of analysts’ stock recommendations and earnings forecast revisions,” Journal of Accounting Research, 193-211. Day 5: Current research trend and publishing in top accounting journals | |||