Determinants of Weaknesses in Internal Control over Financial Reporting

TL;DR: In this paper, a country-level model is presented whereby operational loss severity is explained in terms of the size of the economy and governance indicators, and it is shown that the average severity of operational losses is positively related to the size as measured by GDP and that improvement in governance indicators leads to a reduction of losses.

TL;DR: In this paper, the authors investigated the associations between financial restatements and characteristics of the parties responsible for preventing and detecting unintentional errors, i.e., boards (through their audit committees), management (through chief financial officers (CFOs)), and auditors.

TL;DR: In this article, the impact of the internal controls over financial reporting requirements (ICFR) on the decision making of corporate tax executives is investigated. And the authors examine tax executives' decis...

Abstract: "Peter Kennedy's book, which provides intuitive, narrative explanations for a wide range of topics covered in undergraduate and graduate econometrics courses, occupies a unique position in the econometrics textbook market." -- David Ribar, Department of Economics, the George Washington University "A Guide to Econometrics" has established itself as the first-choice text for teachers and students throughout the world. It provides an overview of the subject and an intuitive feel for its concepts and techniques without the notation and technical detail often characteristic of econometrics textbooks. The fourth edition updates the contents and references thoughout, while retaining the basic structure and flavor of earlier editions. New material has been added on several topics, such as bootstrapping, count data, duration models, generalized method of moments, instrumental variable estimation, linear structural relations, Monte Carlo studies, neural nets, time series analysis, and VARs. A new appendix and a new type of exercise underline the importance of the sampling distribution concept.

TL;DR: This article showed that companies with unusually high accruals in the initial public offering experience poor stock return performance in the three years thereafter, and that these differences are statistically and economically significant in a variety of specifications.

TL;DR: In this paper, the authors argue that hazard models are more appropriate than single-period models for forecasting bankruptcy and propose a model that uses both accounting ratios and market-driven variables to produce out-of-sample forecasts.

TL;DR: This article found that seasoned equity issuers who adjust discretionary current accruals to report higher net income prior to the offering have lower post-issue long-run abnormal stock returns and net income.