对信息披露和财务报表关注的有限性[文献翻译]

《对信息披露和财务报表关注的有限性[文献翻译]》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、本科毕业论文（设计）外文翻译题目我国上市公司资产质量信息的披露研究专业会计学外文题目Limitedattention,InformationDisclosureandFinancialReporting外文出处FisherCollegeofBusiness外文作者DavidHirshleiferandSiewHongTeoh原文：Limitedattention,InformationDisclosureandFinancialReportingAbstractThispapermodelsfirms’choicesbetweenalternativemeansofpresentinginf

2、ormation,andtheeffectsofdifferentpresentationsonmarketpriceswheninvestorshavelimitedattentionandprocessingpower.Inamarketequilibriumwithpartiallyattentiveinvestors,weexaminetheeffectsofalternative:levelsofdiscretioninproformaearningsdisclosure,methodsofaccountingforemployeeoptioncompensation,anddeg

3、reesofaggregationinreporting.Wederiveempiricalimplicationsrelatingproformaadjustments,optioncompensation,thegrowth,persistence,andinformativenessofearnings,short-runmanagerialincentives,andotherfirmcharacteristicstostockpricereactions,misevaluation,long-runabnormalreturns,andcorporatedecisions.KeyW

4、ords:limitedattention,behavioralaccounting,investorpsychology,capitalmarkets,accountingregulation,disclosure,marketefficiency1IntroductionFirmsandregulatorscarenotjustabouttheinformationmadepubliclyavailabletoinvestors,buttheforminwhichitisrevealed.Oneissueofgreatconcerntopractitionersiswhetherinfo

5、rmationitemsshouldberecognizedaspartofearnings,ormerelydisclosedasafootnote.Anotheristheprominencewithwhichdifferentkindsofinformationaredisplayedinfinancialstatements.Thereisalsointenseconcernastotheformofdisclosure,evenwhentheinformationcontentofthealternativeformatsisidentical.Evidentlyregulator

6、sandcommentatorsthinkthatinvestorsareimperfectprocessorsofpubliclyavailableinformation.Suchconcernsarereflectedinthestructureofaccountingregulation,andinpoliticallychargeddebatesoversuchissuesasmergeraccounting,whetheremployeeoptioncompensationshouldbeexpensed,andtowhatextentfirmsshouldbefreetomake

7、proformadisclosuresthatdifferfromGAAPdefinitionsofearnings.12Incontrast,inexistinganalyticresearchonfinancialreporting,thechoicebetweenrecognitionversusdisclosure,andbetweenequivalentformsofdisclosureorrepo