Nonstationarity in the relationship between corporate governance and accounting conservatism

被引：5
|
作者：
Kieschnick, Robert [1 ]
Shi, Wenyun [2 ]
机构：
[1] Univ Texas Dallas, Naveen Jindal Sch Management, 800 W Campbell Rd,SM31, Richardson, TX 75080 USA
[2] Shanghai Jiao Tong Univ, Antai Coll Econ & Management, Shanghai, Peoples R China
来源：
JOURNAL OF BUSINESS FINANCE & ACCOUNTING | 2021年 / 48卷 / 3-4期
关键词：
accounting conservatism; cluster confounding; corporate governance; nonstationarity; TIME-SERIES; DIRECTOR CHARACTERISTICS; MANAGERIAL OWNERSHIP; EQUITY INCENTIVES; EARNINGS; BOARD; TIMELINESS; RISK; DETERMINANTS; MANAGEMENT;
D O I：
10.1111/jbfa.12488
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Noe and Rebello (2012) argue that a firm's environment is not stationary and, as a result, the relationships between corporate governance and firm behavior change to adapt to changes in its environment. We provide evidence that a legal shock (Sarbanes-Oxley Act) and an economic shock (2007/2008 financial crisis) induced changes in the relationships between different corporate governance features and a firm's tendency to report conservatively. Additionally, we provide evidence on the weakness of fixed effects panel regressions to fully understand the effects of various corporate governance features on a firm's tendency to report conservatively.
引用
收藏
页码：463 / 497
页数：35
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