社會(huì)壓力與監(jiān)管力量對(duì)公司主動(dòng)重述不法收入的影響(編輯修改稿)
2025-02-03 16:37 本頁(yè)面
【文章內(nèi)容簡(jiǎn)介】 ermine the announcement date(s) of the expected restatement and the reason(s) for the restatement and recorded it. ? 結(jié)論： 1. Each pany restated future earnings for aggressive and/or irregular reasons. 2. Aggressive accounting practices in the sample were confined mostly to revenue recognition (40%)and cost or expenses (38%) and fraudulent accounting(22%). 3. Agreeing that 170 of announcements should be labeled voluntary The Effects of Social and Regulatory Forces on the Voluntary Restatement of Earnings （二）變量 — 因變量 ? Voluntary —— whether firms voluntarily restated their earnings in a given year. ? Dichotomous and measured at the firmyear level. The Effects of Social and Regulatory Forces on the Voluntary Restatement of Earnings （二）變量 — 自變量 ? Informal Leader Forces ? Performance leader = 1 或 0 （ dichotomous） ? Size leader = 1 或 0 （ dichotomous） ? Informal Peer Forces ? The count of voluntary restaters in a given industry in the prior year ? Informal Network Connections ? Shared auditor = 1 或 0 （ dichotomous） ? Formal Regulatory Forces ? The count of firms in a given industry that were previously forced to restate by the SEC in the prior year. ? Status ? The rank of the number of the firm’s employees vis224。vis other industry members. (1 n) Industry’s seventy fifth percentile or greater in return on assets (ROA) and voluntarily restated its earnings in the prior year . Industry’s seventy fifth percentile or greater in assets and voluntarily restated its earnings in the prior year. Sharing the same auditor with the firm voluntarily restating its earnings in the prior year. The Effects of Social and Regulatory Forces on the Voluntary Restatement of Earnings （二）變量 — 控制變量 ? Option Percentage ? The ratio of the top management team’s mean option value to total pensation. (salary+bonus+options+additional ine). ? Audit Committee Meetings ? The number of meetings each year for each firm in our sample for the 1994–2022period. ? Firm Size ? Assets — The annual yearend asset total for each firm over the eightyear period ? Firm Leverage ? The ratio of a firm’s longterm debt to its assets ? Firm Performance ? ROA — Return On Assets,資產(chǎn)收益率 ? Multiple Restaters = 1 或 0 Beginning with a firm’s second restatement receives a ―1‖. The Effects of Social and Regulatory Forces on the Voluntary Restatement of Earnings （三）測(cè)驗(yàn)分析 — 模型 ? Cox proportional hazards regression model （ COX 比例風(fēng)險(xiǎn)回歸模型） h (t | xj)=h0 ( t ) exp(xjβx) h (t | xj)為具有 j個(gè)協(xié)變量 X的個(gè)體在時(shí)刻 t的風(fēng)險(xiǎn)函數(shù)，h0 ( t )為基線風(fēng)險(xiǎn)函數(shù)， βx為估算的回歸系數(shù)。 ? 相對(duì)危險(xiǎn)度（ RR）： 任意兩個(gè)個(gè)體的風(fēng)險(xiǎn)函數(shù)之比 ? 風(fēng)險(xiǎn)比 HR： 變量 xj暴露水平時(shí)的風(fēng)險(xiǎn)率與非暴露時(shí)的風(fēng)險(xiǎn)率，約等于相對(duì)風(fēng)險(xiǎn)率 RR ? 一般用于計(jì)算事件發(fā)生的可能性和時(shí)序性 ? 本文用于研究社會(huì)壓力和監(jiān)管勢(shì)力對(duì) ‘ 重述不法行為及其財(cái)產(chǎn)的可能性 ’ 的影響。 The Effects of Social and Regulatory Forces on the Voluntary Restatement of Earnings （三）測(cè)驗(yàn)分析 — 結(jié)果 ? Table 1： Descriptive Statistics and Correlations ? Table 2 ： Cox Proportional Hazard Model Results for Voluntary Restatements The Effects of Social and Regulatory Forces on the Voluntary Restatement of Earnings Variable Mean . 1 2 3 4 5 6 7 8 9 10 11 121. Voluntary 2. Option pct ??3. Audit mtgs. ?? ??4. Assets (000) ? ??5. Leverage ? ?? ?? ??6. ROA ? ?? ? ?? ? ?? 7. Multi. restate ?? ?? ?? 8. Perf. leader ?? ? ?? ??9. Size leader ?? ? ?? ?? ??10. Peer restaters ?? ?? ?? ? ? ? ?? ?? ?? ??11. Shared auditor ?? ?? ?? ? ? ? ? ?? ?? ?? ?? ??12. Forced restaters ?? ?? ? ?? ?? ? ? ?? ??13. Status ?? ?? ?? ?? ?? ? ?? ?? ?? ??Table 1 Descriptive Statistics and Correlations ? p ； ?? pThe Effects of Social and Regulatory Forces on the Voluntary Restatement of Earnings Variable Model 1 HR Model 2 HR Model 3 HR Model 4 HR Model 5 HR Model 6 HRControlsOption percentage Audit mittee mtgs. ??????????????Assets 1 . 00 ? 1 . 00 ? Leverage ROA
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