메뉴 건너뛰기




Volumn 26, Issue 2, 2009, Pages 517-548

Auditor tenure and the ability to meet or beat earnings forecasts

Author keywords

Analyst forecasts; Auditor tenure; Discretionary accruals; Earnings management

Indexed keywords


EID: 76249128977     PISSN: 08239150     EISSN: 19113846     Source Type: Journal    
DOI: 10.1506/car.26.2.8     Document Type: Article
Times cited : (281)

References (86)
  • 1
    • 0742304035 scopus 로고    scopus 로고
    • Biased forecasts or biased earnings? The role of reported earnings in explaining apparent bias and over/underreaction in analysts' earnings forecasts
    • Abarbanell, J., and R. Lehavy. 2003. Biased forecasts or biased earnings? The role of reported earnings in explaining apparent bias and over/underreaction in analysts' earnings forecasts. Journal of Accounting and Economics 36(1-3):105-46.
    • (2003) Journal of Accounting and Economics , vol.36 , Issue.1-3 , pp. 105-146
    • Abarbanell, J.1    Lehavy, R.2
  • 6
    • 38249011497 scopus 로고
    • Association between accounting performance measures and stock prices: A test of the life cycle hypothesis
    • Anthony, J., and K. Ramesh. 1992. Association between accounting performance measures and stock prices: A test of the life cycle hypothesis. Journal of Accounting and Economics 15(2-3):203-27.
    • (1992) Journal of Accounting and Economics , vol.15 , Issue.2-3 , pp. 203-227
    • Anthony, J.1    Ramesh, K.2
  • 7
    • 0031094066 scopus 로고    scopus 로고
    • Mandatory rotation of company auditors: A critical examination
    • Arruñada, B., and C. Paz-Ares. 1997. Mandatory rotation of company auditors: A critical examination. International Review of Law and Economics 17(1):31-61.
    • (1997) International Review of Law and Economics , vol.17 , Issue.1 , pp. 31-61
    • Arruñada, B.1    Paz-Ares, C.2
  • 8
    • 0002286246 scopus 로고
    • Predisclosure information, firm capitalization and security price behavior around earnings announcements
    • Atiase, R. 1985. Predisclosure information, firm capitalization and security price behavior around earnings announcements. Journal of Accounting Research 23(1):21-36.
    • (1985) Journal of Accounting Research , vol.23 , Issue.1 , pp. 21-36
    • Atiase, R.1
  • 10
    • 0036267630 scopus 로고    scopus 로고
    • The rewards to meeting or beating earnings expectations
    • Bartov, E., D. Givoly, and C. Hayn. 2002. The rewards to meeting or beating earnings expectations. Journal of Accounting and Economics 33(2):173-204.
    • (2002) Journal of Accounting and Economics , vol.33 , Issue.2 , pp. 173-204
    • Bartov, E.1    Givoly, D.2    Hayn, C.3
  • 14
    • 76249119081 scopus 로고    scopus 로고
    • Biggs, J. 2002. Testimony given to the U. S. Senate Committee on Banking, Housing and Urban Affairs. Oversight hearing on accounting and investor protection issues raised by Enron and other public companies. February 27.
    • Biggs, J. 2002. Testimony given to the U. S. Senate Committee on Banking, Housing and Urban Affairs. Oversight hearing on accounting and investor protection issues raised by Enron and other public companies. February 27.
  • 16
    • 0003323223 scopus 로고    scopus 로고
    • Analyst forecasting errors: Additional evidence
    • Brown, L. 1997. Analyst forecasting errors: Additional evidence. Financial Analysts' Journal 53(6):81-8.
    • (1997) Financial Analysts' Journal , vol.53 , Issue.6 , pp. 81-88
    • Brown, L.1
  • 17
    • 18944372804 scopus 로고    scopus 로고
    • A temporal analysis of quarterly earnings thresholds: Propensities and valuation consequences
    • Brown, L., and M. Caylor. 2005. A temporal analysis of quarterly earnings thresholds: Propensities and valuation consequences. The Accounting Review 80(2):423-40.
    • (2005) The Accounting Review , vol.80 , Issue.2 , pp. 423-440
    • Brown, L.1    Caylor, M.2
  • 19
    • 0031287878 scopus 로고    scopus 로고
    • Earnings, adaptation and equity value
    • Burgstahler, D., and I. Dichev. 1997. Earnings, adaptation and equity value. The Accounting Review 72(2):187-215.
    • (1997) The Accounting Review , vol.72 , Issue.2 , pp. 187-215
    • Burgstahler, D.1    Dichev, I.2
  • 20
    • 1542399108 scopus 로고    scopus 로고
    • Earnings management to avoid losses and earnings decreases: Are analysts fooled?
    • Burgstahler, D., and M. Eames. 2003. Earnings management to avoid losses and earnings decreases: Are analysts fooled? Contemporary Accounting Research 20(2):253-94.
    • (2003) Contemporary Accounting Research , vol.20 , Issue.2 , pp. 253-294
    • Burgstahler, D.1    Eames, M.2
  • 21
    • 33644687138 scopus 로고    scopus 로고
    • After Enron: Auditor conservatism and ex-Andersen clients
    • Cahan, S., and W. Zhang. 2006. After Enron: Auditor conservatism and ex-Andersen clients. The Accounting Review 81(1):49-82.
    • (2006) The Accounting Review , vol.81 , Issue.1 , pp. 49-82
    • Cahan, S.1    Zhang, W.2
  • 23
    • 8744256522 scopus 로고    scopus 로고
    • Audit firm tenure and fraudulent financial reporting
    • Carcello, J., and A. Nagy. 2004. Audit firm tenure and fraudulent financial reporting. Auditing: A Journal of Practice & Theory 23(2):55-69.
    • (2004) Auditing: A Journal of Practice & Theory , vol.23 , Issue.2 , pp. 55-69
    • Carcello, J.1    Nagy, A.2
  • 26
    • 46049100780 scopus 로고    scopus 로고
    • Real and accruals-based earnings management in the pre-and post-Sarbanes-Oxley periods
    • Cohen, D., A. Dey, and T. Lys. 2008. Real and accruals-based earnings management in the pre-and post-Sarbanes-Oxley periods. The Accounting Review 83(3):757-87.
    • (2008) The Accounting Review , vol.83 , Issue.3 , pp. 757-787
    • Cohen, D.1    Dey, A.2    Lys, T.3
  • 27
    • 76249097932 scopus 로고    scopus 로고
    • Commission on Public Trust and Private Enterprise. 2003. Findings and recommendations part 2: Corporate governance part 3: Audit and accounting. New York: Conference Board.
    • Commission on Public Trust and Private Enterprise. 2003. Findings and recommendations part 2: Corporate governance part 3: Audit and accounting. New York: Conference Board.
  • 28
    • 76249127904 scopus 로고    scopus 로고
    • Restoring confidence in the American financial system: Tough reforms are needed
    • Copeland, J. 2002. Restoring confidence in the American financial system: Tough reforms are needed. Vital Speeches of the Day 68(15):456-61.
    • (2002) Vital Speeches of the Day , vol.68 , Issue.15 , pp. 456-461
    • Copeland, J.1
  • 29
    • 76249129787 scopus 로고    scopus 로고
    • Cox, C. 2006. Testimony concerning the impact of the Sarbanes-Oxley Act by the chair of the U. S. Securities and Exchange Commission before the U. S. House Committee on Financial Services, September 19.
    • Cox, C. 2006. Testimony concerning the impact of the Sarbanes-Oxley Act by the chair of the U. S. Securities and Exchange Commission before the U. S. House Committee on Financial Services, September 19.
  • 31
    • 43949157969 scopus 로고
    • Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals
    • Dechow, P. 1994. Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals. Journal of Accounting and Economics 18(1):3-42.
    • (1994) Journal of Accounting and Economics , vol.18 , Issue.1 , pp. 3-42
    • Dechow, P.1
  • 32
    • 0036997124 scopus 로고    scopus 로고
    • The quality of accruals and earnings: The role of accrual estimation errors
    • 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.
    • (2002) The Accounting Review , vol.77 , Issue.SUPPL.EMENT , pp. 35-59
    • Dechow, P.1    Dichev, I.2
  • 33
    • 0031187968 scopus 로고    scopus 로고
    • Smoothing income in anticipation of future earnings
    • DeFond, M., and C. W. Park. 1997. Smoothing income in anticipation of future earnings. Journal of Accounting and Economics 23(2):115-40.
    • (1997) Journal of Accounting and Economics , vol.23 , Issue.2 , pp. 115-140
    • DeFond, M.1    Park, C.W.2
  • 34
    • 0036026430 scopus 로고    scopus 로고
    • Do non-audit service fees impair auditor independence? Evidence from going concern audit opinions
    • DeFond, M., K. Raghunandan, and K. R. Subramanyam. 2002. Do non-audit service fees impair auditor independence? Evidence from going concern audit opinions. Journal of Accounting Research 40(4):1247-74.
    • (2002) Journal of Accounting Research , vol.40 , Issue.4 , pp. 1247-1274
    • DeFond, M.1    Raghunandan, K.2    Subramanyam, K.R.3
  • 37
    • 0035602480 scopus 로고    scopus 로고
    • An experimental investigation of retention and rotation requirements
    • Dopuch, N., R. King, and R. Schwartz. 2001. An experimental investigation of retention and rotation requirements. Journal of Accounting Research 39(1):93-117.
    • (2001) Journal of Accounting Research , vol.39 , Issue.1 , pp. 93-117
    • Dopuch, N.1    King, R.2    Schwartz, R.3
  • 39
    • 76249089857 scopus 로고    scopus 로고
    • Elliott, R., K. Eddy, O. Kirtley, and B. Melancon. 2000. Proposed federal regulation threatens CPA profession by limiting scope of CPA services. Letter to AICPA members. August 10. New York: AICPA.
    • Elliott, R., K. Eddy, O. Kirtley, and B. Melancon. 2000. Proposed federal regulation threatens CPA profession by limiting scope of CPA services. Letter to AICPA members. August 10. New York: AICPA.
  • 40
    • 0000915988 scopus 로고    scopus 로고
    • Accounting accruals and auditor reporting conservatism
    • Francis, J., and K. Krishnan. 1999. Accounting accruals and auditor reporting conservatism. Contemporary Accounting Research 16(1):135-66.
    • (1999) Contemporary Accounting Research , vol.16 , Issue.1 , pp. 135-166
    • Francis, J.1    Krishnan, K.2
  • 41
    • 0036990914 scopus 로고    scopus 로고
    • The relation between auditors' fees for nonaudit services and earnings management
    • Ffankel, R., M. Johnson, and K. Nelson. 2002. The relation between auditors' fees for nonaudit services and earnings management. The Accounting Review 77 (Supplement) : 71-105.
    • (2002) The Accounting Review , vol.77 , Issue.SUPPL.EMENT , pp. 71-105
    • Ffankel, R.1    Johnson, M.2    Nelson, K.3
  • 42
    • 0001945560 scopus 로고
    • Financial analysts' forecasts of earnings: A better surrogate for market expectations
    • Fried, D., and D. Givoly. 1982. Financial analysts' forecasts of earnings: A better surrogate for market expectations. Journal of Accounting and Economics 4(2):85-107.
    • (1982) Journal of Accounting and Economics , vol.4 , Issue.2 , pp. 85-107
    • Fried, D.1    Givoly, D.2
  • 45
    • 18944364542 scopus 로고    scopus 로고
    • Auditor tenure and perceptions of audit quality
    • Ghosh, A., and D. Moon. 2005. Auditor tenure and perceptions of audit quality. The Accounting Review 80(2):585-612.
    • (2005) The Accounting Review , vol.80 , Issue.2 , pp. 585-612
    • Ghosh, A.1    Moon, D.2
  • 48
    • 1542608803 scopus 로고    scopus 로고
    • Discretionary accounting accruals, managers' incentives, and audit fees
    • Gul, F. A., C. J. P. Chen, and J. S. L. Tsui. 2003. Discretionary accounting accruals, managers' incentives, and audit fees. Contemporary Accounting Research 20(3):441-64.
    • (2003) Contemporary Accounting Research , vol.20 , Issue.3 , pp. 441-464
    • Gul, F.A.1    Chen, C.J.P.2    Tsui, J.S.L.3
  • 49
    • 42149159393 scopus 로고    scopus 로고
    • Auditor independence: Evidence on the joint effects of auditor tenure and non-audit fees
    • Gul, F. A., B. Jaggi, and G. Krishnan. 2007. Auditor independence: Evidence on the joint effects of auditor tenure and non-audit fees. Auditing: A Journal of Practice & Theory 26(2):117-42.
    • (2007) Auditing: A Journal of Practice & Theory , vol.26 , Issue.2 , pp. 117-142
    • Gul, F.A.1    Jaggi, B.2    Krishnan, G.3
  • 51
    • 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 Accounting Review 76(1):111-26.
    • (2001) The Accounting Review , vol.76 , Issue.1 , pp. 111-126
    • Heninger, W.1
  • 52
    • 0036004049 scopus 로고    scopus 로고
    • Errors in estimating accruals: Implications for empirical work
    • Hribar, P., and D. Collins. 2002. Errors in estimating accruals: Implications for empirical work. Journal of Accounting Research 40(1):105-34.
    • (2002) Journal of Accounting Research , vol.40 , Issue.1 , pp. 105-134
    • Hribar, P.1    Collins, D.2
  • 53
    • 0042224976 scopus 로고    scopus 로고
    • Institute of Chartered Accountants in England and Wales ICAEW, London: ICAEW
    • Institute of Chartered Accountants in England and Wales (ICAEW). 2002. Mandatory rotation of audit firms. London: ICAEW.
    • (2002) Mandatory rotation of audit firms
  • 55
    • 0000862461 scopus 로고
    • Earnings management during import relief investigations
    • Jones, J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29(2):193-228.
    • (1991) Journal of Accounting Research , vol.29 , Issue.2 , pp. 193-228
    • Jones, J.1
  • 56
    • 0036628373 scopus 로고    scopus 로고
    • Does meeting expectations matter? Evidence from analyst forecast revisions and share prices
    • Kasznik, R., and M. McNichols. 2002. Does meeting expectations matter? Evidence from analyst forecast revisions and share prices. Journal of Accounting Research 40(3):727-59.
    • (2002) Journal of Accounting Research , vol.40 , Issue.3 , pp. 727-759
    • Kasznik, R.1    McNichols, M.2
  • 58
    • 41849129491 scopus 로고    scopus 로고
    • The relationship between auditor tenure and audit quality implied by going concern opinions
    • Knechel, W. R., and A. Vanstraelen. 2007. The relationship between auditor tenure and audit quality implied by going concern opinions. Auditing: A Journal of Practice & Theory 26(1):113-31.
    • (2007) Auditing: A Journal of Practice & Theory , vol.26 , Issue.1 , pp. 113-131
    • Knechel, W.R.1    Vanstraelen, A.2
  • 60
    • 0004239766 scopus 로고    scopus 로고
    • Remarks at the NYU Center for Law and Business, September 28
    • Levitt, A. 1998. The numbers game. Remarks at the NYU Center for Law and Business, September 28.
    • (1998) The numbers game
    • Levitt, A.1
  • 61
    • 84990378630 scopus 로고    scopus 로고
    • The effect of beating and missing analysts' forecasts on the information content of unexpected earnings
    • Lopez, T. J., and L. Rees. 2002. The effect of beating and missing analysts' forecasts on the information content of unexpected earnings. Journal of Accounting, Auditing and Finance 17(2):155-84.
    • (2002) Journal of Accounting, Auditing and Finance , vol.17 , Issue.2 , pp. 155-184
    • Lopez, T.J.1    Rees, L.2
  • 62
    • 84965695379 scopus 로고
    • Analysts' forecast precision as a response to competition
    • Lys, T., and L. Soo. 1995. Analysts' forecast precision as a response to competition. Journal of Accounting, Auditing and Finance 10(4):751-65.
    • (1995) Journal of Accounting, Auditing and Finance , vol.10 , Issue.4 , pp. 751-765
    • Lys, T.1    Soo, L.2
  • 63
    • 4444371197 scopus 로고    scopus 로고
    • Does auditor quality and tenure matter to investors? Evidence from the bond market
    • Mansi, S., W. Maxwell, and D. Miller. 2004. Does auditor quality and tenure matter to investors? Evidence from the bond market. Journal of Accounting Research 42(4):755-93.
    • (2004) Journal of Accounting Research , vol.42 , Issue.4 , pp. 755-793
    • Mansi, S.1    Maxwell, W.2    Miller, D.3
  • 64
    • 0035995637 scopus 로고    scopus 로고
    • Management's incentives to avoid negative earnings surprises
    • Matsumoto, D. 2002. Management's incentives to avoid negative earnings surprises. The Accounting Review 77(3):483-514.
    • (2002) The Accounting Review , vol.77 , Issue.3 , pp. 483-514
    • Matsumoto, D.1
  • 65
    • 0002355614 scopus 로고
    • Evidence of earnings management from the provision for bad debts
    • McNichols, M., and G. P. Wilson. 1988. Evidence of earnings management from the provision for bad debts. Journal of Accounting Research 26(Supplement):1-31.
    • (1988) Journal of Accounting Research , vol.26 , Issue.SUPPL.EMENT , pp. 1-31
    • McNichols, M.1    Wilson, G.P.2
  • 66
    • 76249115871 scopus 로고    scopus 로고
    • Melancon, B. 2002. Statement of Barry Melancon, president and CEO of the AICPA to the Committee on Financial Services, US House of Representatives. March 13.
    • Melancon, B. 2002. Statement of Barry Melancon, president and CEO of the AICPA to the Committee on Financial Services, US House of Representatives. March 13.
  • 67
    • 31144458817 scopus 로고    scopus 로고
    • Conflicts of interest and the case of auditor independence: Moral seduction and strategic issue cycling
    • Moore, D., P. Tetlock, L. Tanlu, and M. Bazerman. 2006. Conflicts of interest and the case of auditor independence: Moral seduction and strategic issue cycling. Academy of Management Review 31(1):10-29.
    • (2006) Academy of Management Review , vol.31 , Issue.1 , pp. 10-29
    • Moore, D.1    Tetlock, P.2    Tanlu, L.3    Bazerman, M.4
  • 68
    • 0043166151 scopus 로고    scopus 로고
    • Exploring the term of the auditor-client relationship and the quality of earnings: A case for mandatory rotation?
    • Myers, J., L. Myers, and T. Omer. 2003. Exploring the term of the auditor-client relationship and the quality of earnings: A case for mandatory rotation? The Accounting Review 78(3):779-800.
    • (2003) The Accounting Review , vol.78 , Issue.3 , pp. 779-800
    • Myers, J.1    Myers, L.2    Omer, T.3
  • 69
    • 76249113595 scopus 로고    scopus 로고
    • Meyers, J., L. Meyers, Z. V. Palmrose, and S. Scholz. 2004. Mandatory auditor rotation: Evidence from restatements. Working paper, University of Illinois at Urbana-Champaign.
    • Meyers, J., L. Meyers, Z. V. Palmrose, and S. Scholz. 2004. Mandatory auditor rotation: Evidence from restatements. Working paper, University of Illinois at Urbana-Champaign.
  • 71
    • 76249083972 scopus 로고    scopus 로고
    • New York Stock Exchange (NYSE). 2003. Final NYSE corporate governance rules. New York: NYSE.
    • New York Stock Exchange (NYSE). 2003. Final NYSE corporate governance rules. New York: NYSE.
  • 72
    • 39149126416 scopus 로고
    • Analysts' forecasts as earnings expectations
    • O'Brien, P. 1988. Analysts' forecasts as earnings expectations. Journal of Accounting and Economics 10(1):53-83.
    • (1988) Journal of Accounting and Economics , vol.10 , Issue.1 , pp. 53-83
    • O'Brien, P.1
  • 73
    • 84892702170 scopus 로고    scopus 로고
    • Estimating standard errors in finance panel data sets: Comparing approaches
    • Petersen, M. 2008. Estimating standard errors in finance panel data sets: Comparing approaches. Review of Financial Studies 22(1):435-80.
    • (2008) Review of Financial Studies , vol.22 , Issue.1 , pp. 435-480
    • Petersen, M.1
  • 76
    • 39049148367 scopus 로고    scopus 로고
    • Public Oversight Board POB, Stamford, CT: POB
    • Public Oversight Board (POB). 2002. Final annual report 2001. Stamford, CT: POB.
    • (2002) Final annual report 2001
  • 78
    • 76249110368 scopus 로고    scopus 로고
    • Sarbanes-Oxley Act of 2002. 2002. HR 3763.
    • Sarbanes-Oxley Act of 2002. 2002. HR 3763.
  • 79
    • 0001165431 scopus 로고
    • Auditor switches by failing firms
    • Schwartz, K., and K. Menon. 1985. Auditor switches by failing firms. The Accounting Review 60(2):248-61.
    • (1985) The Accounting Review , vol.60 , Issue.2 , pp. 248-261
    • Schwartz, K.1    Menon, K.2
  • 80
    • 0012358775 scopus 로고    scopus 로고
    • Securities and Exchange Commission SEC, Washington, DC: SEC
    • Securities and Exchange Commission (SEC). 1999. Staff Accounting Bulletin No. 99: Materiality. Washington, DC: SEC.
    • (1999) Staff Accounting Bulletin No. 99: Materiality
  • 82
    • 76249112771 scopus 로고    scopus 로고
    • Seidman, E. 2001. Testimony given to the U. S. Senate Committee on Banking, Housing and Urban Affairs. Oversight Hearing on the Failure of Superior Bank, Federal Savings Bank. September 11.
    • Seidman, E. 2001. Testimony given to the U. S. Senate Committee on Banking, Housing and Urban Affairs. Oversight Hearing on the Failure of Superior Bank, Federal Savings Bank. September 11.
  • 83
    • 0010987267 scopus 로고
    • Cost manipulation incentives under cost reimbursement: Pension costs for defense contracts
    • Thomas, J., and S. Tung. 1992. Cost manipulation incentives under cost reimbursement: Pension costs for defense contracts. The Accounting Review 67(4):691-711.
    • (1992) The Accounting Review , vol.67 , Issue.4 , pp. 691-711
    • Thomas, J.1    Tung, S.2
  • 84
    • 76249103473 scopus 로고    scopus 로고
    • Trumka, R. 2001. Request for rulemaking concerning definition of independent auditor and limiting services accounting firms may provide to audit clients. Letter to the U. S. Securities and Exchange Commission. http://www.sec.gov/rules/petitions/petn4-448.htm.
    • Trumka, R. 2001. Request for rulemaking concerning definition of independent auditor and limiting services accounting firms may provide to audit clients. Letter to the U. S. Securities and Exchange Commission. http://www.sec.gov/rules/petitions/petn4-448.htm.
  • 86
    • 0040819057 scopus 로고    scopus 로고
    • Auditing, earnings management, and international accounting issues at the Securities and Exchange Commission
    • Turner, L., and J. Godwin. 1999. Auditing, earnings management, and international accounting issues at the Securities and Exchange Commission. Accounting Horizons 13(3):281-97.
    • (1999) Accounting Horizons , vol.13 , Issue.3 , pp. 281-297
    • Turner, L.1    Godwin, J.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.