메뉴 건너뛰기




Volumn 22, Issue 1, 2003, Pages 93-108

The effect of the private securities litigation reform act of 1995 on accounting discretion of client managers of Big 6 and non-Big 6 auditors

Author keywords

Auditor wealth; Earnings management; Private Securities Litigation Reform Act

Indexed keywords


EID: 3142615898     PISSN: 02780380     EISSN: None     Source Type: Journal    
DOI: 10.2308/aud.2003.22.1.93     Document Type: Article
Times cited : (64)

References (67)
  • 1
    • 23044528233 scopus 로고    scopus 로고
    • Securities price consequences of the private securities litigation reform act of 1995 and related events
    • Ali, A., and S. Kallapur. 2001. Securities price consequences of the Private Securities Litigation Reform Act of 1995 and related events. The Accounting Review 76 (July): 431-460.
    • (2001) The Accounting Review , vol.76 , Issue.JULY , pp. 431-460
    • Ali, A.1    Kallapur, S.2
  • 5
    • 85039513908 scopus 로고
    • Statement on Auditing Standards No. 55. New York, NY: AICPA
    • _. 1988b. Consideration of the Internal Control Structure. Statement on Auditing Standards No. 55. New York, NY: AICPA.
    • (1988) Consideration of the Internal Control Structure
  • 8
    • 0001834529 scopus 로고
    • Conservatism and auditor-client negotiations
    • Antle, R., and B. Nalebuff. 1991. Conservatism and auditor-client negotiations. Journal of Accounting Research 29 (Supplement): 31-59.
    • (1991) Journal of Accounting Research , vol.29 , Issue.SUPPL. , pp. 31-59
    • Antle, R.1    Nalebuff, B.2
  • 9
    • 0002840636 scopus 로고
    • The liability crisis in the United States: Impact on the accounting profession (A statement of position)
    • Reprinted in
    • Arthur Andersen & Co., Coopers & Lybrand, Deloitte & Touche, Ernest & Young, KPMG Peat Marwick, and Price Waterhouse. 1992. The Liability Crisis in the United States: Impact on the Accounting Profession (A Statement of Position). Reprinted in Journal of Accountancy (November): 19-23.
    • (1992) Journal of Accountancy , Issue.NOVEMBER , pp. 19-23
  • 10
    • 0033235090 scopus 로고    scopus 로고
    • Market rewards associated with patterns of increasing earnings
    • Barth, M., J. Elliott, and M. Finn. 1999. Market rewards associated with patterns of increasing earnings. Journal of Accounting Research 37 (Autumn): 387-413.
    • (1999) Journal of Accounting Research , vol.37 , Issue.AUTUMN , pp. 387-413
    • Barth, M.1    Elliott, J.2    Finn, M.3
  • 11
    • 0003377027 scopus 로고    scopus 로고
    • Discretionary accruals models and audit qualifications
    • Bartov, E., F. Gul, and J. Tsui. 2001. Discretionary accruals models and audit qualifications. Journal of Accounting and Economics 30 (December): 421-452.
    • (2001) Journal of Accounting and Economics , vol.30 , Issue.DECEMBER , pp. 421-452
    • Bartov, E.1    Gul, F.2    Tsui, J.3
  • 13
    • 0001676969 scopus 로고
    • Determinants of the corporate decision to capitalize interest
    • Bowen, R., E. Noreen, and J. Lacey. 1981. Determinants of the corporate decision to capitalize interest. Journal of Accounting and Economics 3 (August): 151-179.
    • (1981) Journal of Accounting and Economics , vol.3 , Issue.AUGUST , pp. 151-179
    • Bowen, R.1    Noreen, E.2    Lacey, J.3
  • 14
    • 0031498155 scopus 로고    scopus 로고
    • Earnings management to avoid earnings decreases and losses
    • Burgstahler, D., and I. Dichev. 1997. Earnings management to avoid earnings decreases and losses. Journal of Accounting and Economics 24 (December): 99-126.
    • (1997) Journal of Accounting and Economics , vol.24 , Issue.DECEMBER , pp. 99-126
    • Burgstahler, D.1    Dichev, I.2
  • 15
    • 0009197140 scopus 로고    scopus 로고
    • An analysis of the economic consequences of the proportionate liability rule
    • Chan, D., and S. Pae. 1998. An analysis of the economic consequences of the proportionate liability rule. Contemporary Accounting Research 15 (Winter): 457-480.
    • (1998) Contemporary Accounting Research , vol.15 , Issue.WINTER , pp. 457-480
    • Chan, D.1    Pae, S.2
  • 16
    • 85039532503 scopus 로고    scopus 로고
    • Finance-Hill Eyes Reform of 1995 "Reform" Law. (February 27)
    • Congress Daily. 2002. Finance-Hill Eyes Reform of 1995 "Reform" Law. (February 27). Available at: http://nationaljournal.com/cgi-bin/ifetch4? ENG+ALL-_-ALL_PUBS-_-CONGRESS+7-cr0199+1073133- REVERSE+0+33+793+F+9+11+1+Private+AND+Securities+AND+Litigation+AND +Reform+AND+PD%2f01%2f19%2f2002%2d%3e12%2f13%2f2002.
    • (2002) Congress Daily
  • 17
    • 0011695836 scopus 로고
    • Auditor tenure, fixed fee contracts, and the supply of substandard single audits
    • Copley, P., and M. Doucet. 1993. Auditor tenure, fixed fee contracts, and the supply of substandard single audits. Public Budgeting & Finance (Fall): 23-35.
    • (1993) Public Budgeting & Finance , Issue.FALL , pp. 23-35
    • Copley, P.1    Doucet, M.2
  • 18
    • 2642532959 scopus 로고    scopus 로고
    • Auditor tenure, auditor independence, and earning management
    • Boston College
    • Davis, L., B. Soo, and G. Trompeter. 2000. Auditor tenure, auditor independence, and earning management. Working paper, Boston College.
    • (2000) Working Paper
    • Davis, L.1    Soo, B.2    Trompeter, G.3
  • 20
  • 21
    • 8744297938 scopus 로고
    • Detecting earnings management
    • Dechow, P., and R. Sloan, and A. Sweeney. 1995. Detecting earnings management. The Accounting Review 70 (April): 193-225.
    • (1995) The Accounting Review , vol.70 , Issue.APRIL , pp. 193-225
    • Dechow, P.1    Sloan, R.2    Sweeney, A.3
  • 22
    • 77953740930 scopus 로고    scopus 로고
    • Earnings management: Reconciling the views of accounting academics, practitioners, and regulators
    • University of Michigan
    • _, and D. Skinner. 2000. Earnings management: Reconciling the views of accounting academics, practitioners, and regulators. Working paper, University of Michigan.
    • (2000) Working Paper
    • Skinner, D.1
  • 23
    • 84984257709 scopus 로고
    • Factors related to auditor-client disagreements over income-increasing accounting methods
    • DeFond, M., and J. Jiambalvo. 1993. Factors related to auditor-client disagreements over income-increasing accounting methods. Contemporary Accounting Research 9 (Spring): 415-431.
    • (1993) Contemporary Accounting Research , vol.9 , Issue.SPRING , pp. 415-431
    • DeFond, M.1    Jiambalvo, J.2
  • 24
    • 0002261339 scopus 로고    scopus 로고
    • Auditor changes and discretionary accruals
    • _, and K. Subramanyam. 1998. Auditor changes and discretionary accruals. Journal of Accounting and Economics 25 (February): 35-67.
    • (1998) Journal of Accounting and Economics , vol.25 , Issue.FEBRUARY , pp. 35-67
    • Subramanyam, K.1
  • 25
    • 0001542955 scopus 로고
    • Determinants of audit quality in the public sector
    • Deis, D., and G. Giroux. 1992. Determinants of audit quality in the public sector. The Accounting Review 67 (July): 462-479.
    • (1992) The Accounting Review , vol.67 , Issue.JULY , pp. 462-479
    • Deis, D.1    Giroux, G.2
  • 26
    • 1542576486 scopus 로고
    • The effect of owner versus management control on the choice of accounting methods
    • Dhaliwal, D., G. Salamon, and E. Smith. 1982. The effect of owner versus management control on the choice of accounting methods. Journal of Accounting and Economics 4 (July): 41-53.
    • (1982) Journal of Accounting and Economics , vol.4 , Issue.JULY , pp. 41-53
    • Dhaliwal, D.1    Salamon, G.2    Smith, E.3
  • 27
    • 3142580599 scopus 로고    scopus 로고
    • Bean counters in a bind: Trade-offs expand duties
    • Donovan, K. 1996. Bean counters in a bind: Trade-offs expand duties. The National Law Journal 9 (April): B1.
    • (1996) The National Law Journal , vol.9 , Issue.APRIL
    • Donovan, K.1
  • 28
    • 0000775279 scopus 로고
    • Auditing standards, legal liability, and auditor wealth
    • Dye, R. 1993. Auditing standards, legal liability, and auditor wealth. Journal of Political Economy 101: 887-908.
    • (1993) Journal of Political Economy , vol.101 , pp. 887-908
    • Dye, R.1
  • 29
    • 0002181941 scopus 로고    scopus 로고
    • The role of Big 6 auditors in the credible reporting of accruals
    • Francis, J., E. Maydew, and H. Sparks. 1999. The role of Big 6 auditors in the credible reporting of accruals. Auditing: A Journal of Practice & Theory 18 (Fall): 17-34.
    • (1999) Auditing: A Journal of Practice & Theory , vol.18 , Issue.FALL , pp. 17-34
    • Francis, J.1    Maydew, E.2    Sparks, H.3
  • 30
    • 84997941235 scopus 로고    scopus 로고
    • The impact of litigation against an audit firm on the market value of nonlitigating clients
    • Franz, D., D. Crawford, and E. Johnson. 1998. The impact of litigation against an audit firm on the market value of nonlitigating clients. Journal of Accounting, Auditing & Finance 13 Spring): 117-134.
    • (1998) Journal of Accounting, Auditing & Finance , vol.13 , Issue.SPRING , pp. 117-134
    • Franz, D.1    Crawford, D.2    Johnson, E.3
  • 31
    • 85016699524 scopus 로고    scopus 로고
    • Not in my back yard II: The high-tech hypocrites of "tort reform"
    • Gottlieb, E., and J. Doroshow. 2002. Not in my back yard II: The high-tech hypocrites of "tort reform." Center for Justice Democracy (April).
    • (2002) Center for Justice Democracy , Issue.APRIL
    • Gottlieb, E.1    Doroshow, J.2
  • 32
    • 3142652812 scopus 로고    scopus 로고
    • Securities litigation reform: The first year's experience
    • Stanford Law School
    • Grundfest, J., and M. Perino. 1997. Securities litigation reform: The first year's experience. Working paper, Stanford Law School.
    • (1997) Working Paper
    • Grundfest, J.1    Perino, M.2
  • 33
    • 45149136025 scopus 로고
    • The effectiveness of accounting-based dividend constraints
    • Healy, P., and K. Palepu. 1990. The effectiveness of accounting-based dividend constraints. Journal of Accounting and Economics 13 (January): 97-123.
    • (1990) Journal of Accounting and Economics , vol.13 , Issue.JANUARY , pp. 97-123
    • Healy, P.1    Palepu, K.2
  • 34
    • 0035530720 scopus 로고    scopus 로고
    • The association between auditor litigation and abnormal accruals
    • Heninger, W. 2001. The association between auditor litigation and abnormal accruals. The Ac-counting Review 76 (January): 111-126.
    • (2001) The Ac-counting Review , vol.76 , Issue.JANUARY , pp. 111-126
    • Heninger, W.1
  • 35
    • 84984158165 scopus 로고
    • Auditor sensitivity to earnings management
    • Hirst, D. 1994. Auditor sensitivity to earnings management. Contemporary Accounting Research 1 (Fall): 405-422.
    • (1994) Contemporary Accounting Research , vol.1 , Issue.FALL , pp. 405-422
    • Hirst, D.1
  • 37
    • 84985566431 scopus 로고
    • Auditor preferences for liability limitation
    • Johnson, R., D. Stokes, and D. Watts. 1995. Auditor preferences for liability limitation. Accounting and Finance 35: 135-154.
    • (1995) Accounting and Finance , vol.35 , pp. 135-154
    • Johnson, R.1    Stokes, D.2    Watts, D.3
  • 38
    • 3142582178 scopus 로고    scopus 로고
    • Securities law: Accountants, no longer at risk of being sued for aiding and abetting securities law violations, have recently been found directly liable for their clients' fraud
    • Kahn, L., and L. Metcalfe. 1996. Securities law: Accountants, no longer at risk of being sued for aiding and abetting securities law violations, have recently been found directly liable for their clients' fraud. The National Law Journal 20 (May): B6.
    • (1996) The National Law Journal , vol.20 , Issue.MAY
    • Kahn, L.1    Metcalfe, L.2
  • 39
    • 0003160232 scopus 로고    scopus 로고
    • Commentary: The Private Securities Litigation Reform Act of 1995
    • King, R., and R. Schwartz. 1997. Commentary: The Private Securities Litigation Reform Act of 1995, Accounting Horizons 11 (March): 92-106.
    • (1997) Accounting Horizons , vol.11 , Issue.MARCH , pp. 92-106
    • King, R.1    Schwartz, R.2
  • 40
    • 0002309034 scopus 로고
    • Factors that audit committee members use as surrogates for audit quality
    • Knapp, M. 1991. Factors that audit committee members use as surrogates for audit quality. Auditing: A Journal of Practice & Theory 10 (Spring): 35-52.
    • (1991) Auditing: A Journal of Practice & Theory , vol.10 , Issue.SPRING , pp. 35-52
    • Knapp, M.1
  • 41
    • 0031286960 scopus 로고    scopus 로고
    • Litigation risk and auditor resignations
    • Krishnan, J., and J. Krishnan. 1997. Litigation risk and auditor resignations. The Accounting Review 72 (October): 539-560.
    • (1997) The Accounting Review , vol.72 , Issue.OCTOBER , pp. 539-560
    • Krishnan, J.1    Krishnan, J.2
  • 42
    • 21344483941 scopus 로고
    • Cross-sectional determinants of analyst ratings of corporate disclosures
    • Lang, M., and R. Lundholm. 1993. Cross-sectional determinants of analyst ratings of corporate disclosures. Journal of Accounting Research 31 (Autumn): 246-271.
    • (1993) Journal of Accounting Research , vol.31 , Issue.AUTUMN , pp. 246-271
    • Lang, M.1    Lundholm, R.2
  • 43
  • 44
    • 3142655031 scopus 로고    scopus 로고
    • Senate judiciary panel eyes post-Enron liability reforms
    • Lee, B. 2002. Senate judiciary panel eyes post-Enron liability reforms. Dow Jones Newswires (February 7).
    • (2002) Dow Jones Newswires , Issue.FEBRUARY 7
    • Lee, B.1
  • 45
    • 0032264907 scopus 로고    scopus 로고
    • The securities litigation uniform standards act of 1998: The sun sets on California's blue sky laws
    • Levine, D., and A. Pritchard. 1998. The Securities Litigation Uniform Standards Act of 1998: The sun sets on California's Blue Sky Laws. Business Lawyer 54 (November): 1-54.
    • (1998) Business Lawyer , vol.54 , Issue.NOVEMBER , pp. 1-54
    • Levine, D.1    Pritchard, A.2
  • 47
    • 21844501555 scopus 로고
    • Lawsuits against auditors
    • Lys, T., and R. Watts. 1994. Lawsuits against auditors. Journal of Accounting Research 32 (Supplement): 65-93.
    • (1994) Journal of Accounting Research , vol.32 , Issue.SUPPL. , pp. 65-93
    • Lys, T.1    Watts, R.2
  • 48
    • 0040659086 scopus 로고
    • The insurance hypothesis and market prices
    • Menon, K., and D. Williams. 1994. The insurance hypothesis and market prices. The Accounting Review 69 (April): 327-342.
    • (1994) The Accounting Review , vol.69 , Issue.APRIL , pp. 327-342
    • Menon, K.1    Williams, D.2
  • 49
    • 0002055340 scopus 로고
    • An analysis of auditor litigation and audit service quality
    • Palmrose, Z-V. 1988. An analysis of auditor litigation and audit service quality. The Accounting Review 63 (January): 55-73.
    • (1988) The Accounting Review , vol.63 , Issue.JANUARY , pp. 55-73
    • Palmrose, Z.-V.1
  • 50
    • 0002614518 scopus 로고
    • The joint and several versus proportionate liability debate: An empirical investigation of audit-related litigation
    • _. 1994. The joint and several versus proportionate liability debate: An empirical investigation of audit-related litigation. Stanford Journal of Law. Business & Finance: 3-72.
    • (1994) Stanford Journal of Law. Business & Finance , pp. 3-72
  • 51
    • 3142617139 scopus 로고    scopus 로고
    • Securities law: For outside accountants, the new obligations imposed by the securities Litigation reform act go way beyond classical GAAS
    • Pitt, H., and D. Hardison. 1996. Securities law: For outside accountants, the new obligations imposed by the Securities Litigation Reform Act go way beyond classical GAAS. The National Law Journal (March 25): B4.
    • (1996) The National Law Journal , Issue.MARCH 25
    • Pitt, H.1    Hardison, D.2
  • 52
    • 2142722723 scopus 로고    scopus 로고
    • New York, NY: PricewaterhouseCoopers LLP
    • PricewaterhouseCoopers. 2000. 2000 Securities Litigation Study. New York, NY: PricewaterhouseCoopers LLP.
    • (2000) 2000 Securities Litigation Study
  • 53
    • 0007037913 scopus 로고    scopus 로고
    • Auditor resignations and the market for audit services
    • Raghunandan, K., and D. Rama. 1999. Auditor resignations and the market for audit services. Auditing: Journal of Practice & Theory 18 (Spring): 124-135.
    • (1999) Auditing: Journal of Practice & Theory , vol.18 , Issue.SPRING , pp. 124-135
    • Raghunandan, K.1    Rama, D.2
  • 54
    • 0000545798 scopus 로고    scopus 로고
    • Earnings management and the performance of seasoned equity offerings
    • Rangan, S. 1998. Earnings management and the performance of seasoned equity offerings. Journal of Financial Economics 50: 101-122.
    • (1998) Journal of Financial Economics , vol.50 , pp. 101-122
    • Rangan, S.1
  • 55
    • 0000189738 scopus 로고
    • An analysis of the factors associated with lawsuits against public accountants
    • St. Pierre, K., and J. Anderson. 1984. An analysis of the factors associated with lawsuits against public accountants. The Accounting Review 59 (April): 242-263.
    • (1984) The Accounting Review , vol.59 , Issue.APRIL , pp. 242-263
    • St. Pierre, K.1    Anderson, J.2
  • 56
    • 24544456724 scopus 로고    scopus 로고
    • Auditors shields by fraud laws
    • Business Part 3
    • Savage, D. 2002. Auditors shields by fraud laws. Los Angeles Times (January 28): Business Part 3: P1.
    • (2002) Los Angeles Times , Issue.JANUARY 28
    • Savage, D.1
  • 57
    • 85039541531 scopus 로고    scopus 로고
    • Securities Industry Association. 2002. Written statement of Marc E. Lackritz, president Securities Industry Association, on the Corporate and Auditing Accountability, Responsibility and Transparency Act of 2002 (H.R. 3763) - Before the Committee on Financial Services U.S. House of Representatives. March 13. Washington, D.C.: Government Printing Office
    • Securities Industry Association. 2002. Written statement of Marc E. Lackritz, president Securities Industry Association, on the Corporate and Auditing Accountability, Responsibility and Transparency Act of 2002 (H.R. 3763) - Before the Committee on Financial Services U.S. House of Representatives. March 13. Washington, D.C.: Government Printing Office.
  • 58
    • 3142580600 scopus 로고    scopus 로고
    • Alerts/securities, accounting & computer industry contribs. & securities litigation
    • Shecter, J. 1998. Alerts/securities, accounting & computer industry contribs. & securities litigation. Money in Politics 2 (April 20).
    • (1998) Money in Politics , vol.2 , Issue.APRIL 20
    • Shecter, J.1
  • 59
    • 0001323145 scopus 로고    scopus 로고
    • Auditor resignations: Clientele effects and legal liability
    • Shu, S. 2000. Auditor resignations: Clientele effects and legal liability. Journal of Accounting and Economics 29 (April): 173-205.
    • (2000) Journal of Accounting and Economics , vol.29 , Issue.APRIL , pp. 173-205
    • Shu, S.1
  • 60
    • 84862380369 scopus 로고
    • Deloitte is hit by jury award of $77 million
    • Solomon, C., and L. Berton. 1993. Deloitte is hit by jury award of $77 million. Wall Street Journal (November 3): A4.
    • (1993) Wall Street Journal , Issue.NOVEMBER 3
    • Solomon, C.1    Berton, L.2
  • 61
    • 0001489097 scopus 로고
    • Using financial and market information to identify pre-engagement factors associated with lawsuits against auditors
    • Stice, J. 1991. Using financial and market information to identify pre-engagement factors associated with lawsuits against auditors. The Accounting Review 6 (July): 516-533.
    • (1991) The Accounting Review , vol.6 , Issue.JULY , pp. 516-533
    • Stice, J.1
  • 62
    • 38149148207 scopus 로고
    • The debt covenant violations and managers' accounting responses
    • Sweeney, A. 1994. The debt covenant violations and managers' accounting responses. Journal of Accounting and Economics 17 (May): 281-308.
    • (1994) Journal of Accounting and Economics , vol.17 , Issue.MAY , pp. 281-308
    • Sweeney, A.1
  • 63
    • 0000545801 scopus 로고    scopus 로고
    • Earnings management and the underperfonnance of seasoned equity offerings
    • Teoh, S., I. Welch, and T. Wong. 1998. Earnings management and the underperfonnance of seasoned equity offerings. Journal of Financial Economics 50: 63-99.
    • (1998) Journal of Financial Economics , vol.50 , pp. 63-99
    • Teoh, S.1    Welch, I.2    Wong, T.3
  • 65
    • 25944472001 scopus 로고    scopus 로고
    • Microsoft to settle charge of violating SEC accounting rule
    • Wall Street Journal. 2002. Microsoft to settle charge of violating SEC accounting rule. (June 3): C16.
    • (2002) Wall Street Journal , Issue.JUNE 3
  • 67
    • 0000047027 scopus 로고
    • Positive accounting theory: A ten-year perspective
    • _, and _. 1990. Positive accounting theory: A ten-year perspective. The Accounting Review 65 (January): 131-156.
    • (1990) The Accounting Review , vol.65 , Issue.JANUARY , pp. 131-156


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.