会计欺诈【外文翻译】

《会计欺诈【外文翻译】》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、外文翻译原文AccountingFraudMaterialSource:http://74.125.155.132/scholar?q=cache:RuFjeCl9gG4J:scholar.google.com/+Capital+markets+++the+accountAuthor:RobertH.DavidsonInthispaper,Iexaminewhethermacroeconomicconditionsinfluencethepropensitytocommitaccountingfraud.Ifindthatt

2、heincidenceofobservedaccountingfraudisincreasinginGDPandisatitshighestintheperiodsleadinguptoaneconomicpeak.Inaddition,theincidenceofobservedaccountingfraudisdecreasingintheaveragecorrelationbetweenfirmandmarketreturnsandtheaveragemagnitudeofanalystforecasterrors;t

3、herelationisincreasinginaverageprice-earningsratios.Whenexaminingtherelationbetweemacroeconomicconditionsandfirm-levelfrauddeterminantsIfindthattheassociationbetweenCEOcompensationincentivesandthepropensitytoobserveaccountingfraudisgenerallynegative,butispositivean

4、dsignificantduringperiodsofhighpricesensitivitytoearningsnews.Analyzingaccountingfraudbytyperevealsthatrevenuefraudisincreasinginthepricesensitivitytorevenuenews;thisrelationdoesnotexistforexpenseorbalancesheetfraud.Additionally,balancesheetfraudisincreasinginthede

5、faultriskpremium.Theseresultsareconsistentwiththehypothesisthatmarket-wideincentivesformanagerstomanipulateearningsinfluencethedecisiontocommitaccountingfraudaboveandbeyondfirm-leveldeterminants.Overthelast100years,recessionshavebeenroutinelyaccompaniedbrevelations

6、ofscandalousreportingfailuresatmanyfirms.FraudulentreportingwasexposedaftertheGreatCrashin1929,aftertheSavings&Loansscandalinthe1980s,andafterthedot-combubbleofthelate1990s/early2000s1.Sweepingchangesinregulationhaveoftenfollowedthesescandals;theSarbanes-OxleyAct,f

7、orexample,wasdraftedtoreducethelikelihoodoffraudulentreportingafterthedot-comcrash.Additionally,BakerandWurgler[2007]notethedramaticdecreaseinstockpricesthatoccursduringtheseperiods.Theoverallcostofawaveofaccountingscandalstotheeconomy-intermsofreducedfirmvalue,red

8、uced6investorconfidence,bankruptfirms,increasedunemployment,andadditionalregulation-ishuge.Managershavemanyfinancialincentivestomeettheirperforma