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Summer Symposium 1993
Theme: Financial Reporting and Managerial Decisions
Presenters: Stephen PENMAN (University of California-Berkeley) "A Comparison of Dividend, Cash Flow, and Earnings Approaches to Equity Valuation." Discussed by Kwon-Jung Kim (Kyung Hee Uniersity) Catherine FINGER (University of Illinois-Urbana) "Links Between Cash Flow, Accrual Accounting Income, and Economic Income: A Theoretical Model with Supporting Evidence." Discussed by T.J. Wong (Hong Kong University of Science and Technology) Suresh GOVINDARAJ (New York University) "Accounting Earnings Processes, Intertemporal Incentives and Its Implication for Valuation." Discussed by Kevin Chen (Rutgers University) Bing XIANG (Hong Kong University of Science and Technology) "On the Relation Between the Book value and the Market Value of Common Equity: A Time Series Approach." Discussed by Frances Ayres (University of Oklahoma) Thomas HEMMER (UCLA) "On the Design and Choice of "Modern" Management Accounting Measures." Discussed by Derek Chan (Hong Kong University of Science and Technology) P.K. SEN (SUNY-Buffalo) "Decentralization, Transfer Pricing and Accounting Policy Choice." Discussed by Agnes Cheng (University of Houston) Speakers: Marcel FENEZ, Partner, Price Waterhouse
Presenters: Jere FRANCIS (University of Missouri) "Do Accounting Accruals Lead to Auditor Reporting Conservatism" Discussed by David Smith (University of Dayton) Frank GIGLER (University of Chicago) "Audit Pricing, Fraud, and Auditor Resignation" Discussed by Andrew Yim (Hong Kong University of Science and Technology) Stephen HANSEN (UCLA) "The Impact of Accounting Techniques on Audit Fees: Evidence from the United Kingdom" Discussed by Zhaoyang Gu (Hong Kong University of Science and Technology) Chen-en KO (National Taiwan University) "Demand for Audit Quality: An Interactive Effect of Economic Incentives and Audit Substitutes under Differentiated Regulatory Environments" Discussed by Graeme Rankine (Rice University) Theodore MOCK (University of Southern California) "Are Audit Program Plans Risk-Adjusted" Discussed by Joanna Ho (University of California, Irvine) Jane MUTCHLER (Penn State University) "An Explanatory Model of Audit Opinion Decisions on Bankrupt Companies" Discussed by Andrew Chan (Hong Kong University of Science and Technology) Dan SIMUNIC (University of British Columbia) "Precision in Auditing Standards: Effects on Auditor and Director Liability and the Supply and Demand for Audit Services" Discussed by T. J. Wong (Hong Kong University of Science and Technology) Ira SOLOMAN (University of Illinois) "Industry Specialization, Business-Operations Knowledge and Auditor Judgement: an Experimental Investigation" Discussed by William Waller (University of Arizona) Kenneth Trotman (university of new South Wales) "Effects of Feedback and Task Predictability on Task Learning and Judgment Accuracy" Discussed by "Ferdinand Gul (Chinese University of Hong Kong) Jevons Lee (Hong Kong University of Science and Technology) "Low Balling, Legal Liability, and Auditor Independence" Discussed by Ronald Dye (Northwestern University) Derek Chan (Hong Kong University of Science and Technology) "Scope of Auditors’ Liability, Audit Quality, and Capital Investment" Discussed by Frank Gigler (Northwestern University) Mark Defond (Hong Kong University of Science and Technology) "Auditor Changes and Discretionary Accruals" Discussed by Graeme Rankine (Rice University) Kermit Rohrbach (Hong Kong University of Science and Technology) "Sampling accounts Payable Populations" Discussed by Ramesh Kini (Hong Kong University of
Science and Technology)
Presenters: Chee W. Chow (San Diego State University) "The Openness of Information Exchange Within Organizations: A Cross-Cultural Field Study" Discussed by Chengyee Chang (California State University, San Marcos) William Waller (University of Arizona) "Fixed Cost Allocation and Learning in Experimental Markets" Discussed by Chung Kim (Hong Kong University of Science and Technology) Mahendra Gupta (Washington University) "The Customer Profitability Implications of Customer Satisfaction" Discussed by Eric Noreen (Hong Kong University of Science and Technology) Tim Baldenius (University of Vienna) "Transfer Pricing, External Sales, and Intracompany Discounts" Discussed by Dingbo Xu (Hong Kong University of Science and Technology) Thomas Hemmer (University of Chicago) "Information Flow, Incentives, and the Optimal Assignment of Responsibilities" Discussed by Suil Pae (Hong Kong University of Science and Technology) Germain Boer (Vanderbilt University) "An empirical Exploration of Possible United States-Japanese Management Accounting Differences" Discussed by Kazuo Yoshida (Nagoya City University) Sakthi Mahenthiran (Butler University) "A Comparative Study of Data Collection Systems: An Analysis of the Shop Floor Data" Discussed by William Maguire (University of Auckland) Eric Noreen (Hong Kong University of Science and Technology) "Cost Pool Aggregation and Costing Errors: Evidence from Hospitals" Discussed by Mahendra Gupta (Washington University) V.G. Narayanan (Harvard University) "Multiple Uses of Accounting Information" Discussed by Jevons Lee (Hong Kong University of Science and Technology) Murgie Krishnan (University of Minnesota) "How do Production Targets Affect Team Leaders’ strategies to Raise Productivity: Theory and Evidence" Discussed by Taesik Ahn (Seoul National University) Andrew Yim (Hong Kong University of Science and Technology) "The Role of Quality Cost in the Choice of Single Versus Multiple Suppliers" Discussed by Stanley Baiman (University of Pennsylvania) Ramji Balakrishnan (University of Iowa) "On the Efficiency of Cost-based Decision Rules for Capacity Planning" Discussed by Eric Noreen (Hong Kong University of
Science and Technology) Panel Discussion: "Value-Based Performance
Metrics" Theme: Current Issues in Financial Reporting: A Global Perspective
Presenters: T.J. Wong (Hong Kong University of Science and Technology) "Financial Packaging of IPO Firms in a Transitional Economy: The Case of B-Shares and H-Shares in China." In-Mu G. Haw (Chinese University of HK) "Value-Relevance of Financial Reporting Disclosures in an Emerging Capital Market: The Case of B-Shares and H-Shares in China" Somnath Das (Unviersity of Illinois-Chicago) and Shahrokh M. Saudagaran (Santa Clara University) "Predictive accuracy of Analysts’ Earnings Forecasts: A Comparison of Non-US Cross-Listed Firms and US Multinationals" Peter D. Easton (Ohio State University) "The Effect of Omission of Change in Economic Goodwill on Estimates of the Slope Coefficient from a Regression of Return on Earnings" Masako N. Darrough (University of California-Davis) "A Behavioral Model of Earnings Forecasts: Top Down versus Bottom Up" Peter Joos (INSEAD) "The stock Market Valuation of Earnings and Book Value: Some International Evidence" Deen Kemsley (Columbia University) "Are Dividend Taxes and Tax Imputation Credits Capitalized in Share Values?" Daniel Beneish (Indiana University)
"Whispers and Shouts: Forecasts of Quarterly Earnings per Share" Theme: Valuation and Financial Statement Analysis
Presenters: Theodore Sougiannis (University of Illinois at Urbana-Champaign) "Analysts’ Interpretation and Investors’ Valuation of Tax Carryforwards" Ron Kasznik (Stanford University) "Analyst Coverage and Intangible Assets" Brian Bushee (Harvard University) "Do Institutional Investors Prefer Near-Term Earnings over Long-Run Value?" Chul Park (Hong Kong University of Science and Technology) "The Reversal of Abnormal Accruals and the Market Valuation of Earnings Surprises" Julia D'Souza (Cornell University) "Nuclear Decommissioning Costs: the Impact of Recoverability Risk on Valuation" Jennifer Francis (University of Chicago) "Using Mechanical Earnings and Residual Income Forecasts" Charles Lee (Cornell University) "Toward an Ex Ante Cost-of-capital" Linda Vincent (University of Chicago) "A Comparison of the Equity Valuation of Property Companies in Hong Kong, the United Kingdom and the United States" Franco Wong (University of California-Berkeley) "Earnings
Management and Its Pricing Implications: Evidence from Banks Adjustments
to the Valuation Allowance for Deferred Tax Assets under SFAS 109" Theme: Corporate Control and Incentives
Presenters: Peter F. Pope (Lancaster University) "Board Composition and Earnings Management: Do Outside Directors Constrain Abnormal Accruals?" Shivaram Rajgopal (University of Washington) "Stock Option Compensation and Risk Taking: The Case of Oil and Gas Producers" T J Wong (Hong Kong University of Science and Technology) "Corporate Ownership Structure and the Informativeness of Accounting Earnings in East Asia" Rebecca Tsui (University of California at Los Angeles) "The Effectiveness of Pension Fund Activism" Sunil Dutta (University of California at Berkeley) "Controlling Investment Decisions: Hurdle Rates and Intertemporal Cost Allocation" Michael J Smith (Duke University) "Information Transfers and Organizational Structure" Chris E Hogan (Vanderbilt University) "The Long-Run Performance of Firms Adopting Compensation Plans Based on Economics Profits" Tim Baldenius (Columbia University) "Incentives for Efficient Inventory Management: The Role of Historical Cost" Steven R Matsunaga (University of Oregon) "Does the CEO Bear a Cost from Missing an Earnings Target?" Derek Chan (Hong Kong University of Science and Technology)
"The Analysis of the Joint Provision of Audit and Nonaudit
Services?" Theme: Market-Based Research: The Road Ahead
Presenters: Patricia Fairfield (Georgetown University) "Accrued Earnings and Growth: Implications for Earnings Persistence and Market Mispricing" Michael Mikhail (Duck University) "The Effect of Experience on Security Analyst Underreaction and Post-Earnings-Announcement Drift" Zhaoyang Gu (Carnegie Mellon University) "Earnings Skewness and Analyst Forecast Bias" Ashiq Ali (University of Arizona) "Changes in Institutional Ownership and Subsequent Earnings Announcement Abnormal Returns" Jong-Hag Choi (Hong Kong University of Science and Technology) "Is Comprehensive Income Irrelevant?" Bin Ke (Pennsylvania State University) "What Insiders Know about Future Earnings and How They Use it: Evidence from Insider Trades" Kin Lo (University of British Columbia) "Bridging the Gap Between Value Relevance and Information Content" Qiang Cheng (University of Wisconsin) "What Determines Residual Income? An Empirical Investigation" Guochang Zhang (Hong Kong University of Science and
Technology) "Heterogreneous Investment Opportunities in Multiple-Segment
Firms and the Incremental Value Relevance of Segment Accounting
Data" Panel Discussion: Asian Capital Markets: The Road Ahead Theme: Accounting for Value Creation: Incentives,
Metrics,
Presenters: Venky Nagar (University of Michigan) "Control Versus Risk in Stock-based Incentives: Evidence from Antitakeover Legislation." Qi Chen (Duck University) "Career Concerns and the Relation between Risk and Incentives." Jere R. Francis (University of Missouri-Columbia) "The Role of Accounting and in Corporate Governance, and the Development of Financial Markets Around the World." Young K. Kwon (University of Illinois at Urbana-Champaign) "Accounting Conservatism and the Value of Accounting Reports for Incentive Contracting in Moral Hazard Settings with Limited Liability and Risk-Neutrality" Anna Wright (University of Technology, Sydney) "The Value-Relevance of Board Composition Within Corporate Governance" Gary C Biddle (Hong Kong University of Science and Technology) "Is the Whole Greater Than the Sum of Its Parts? Evidence of Synergies in Earnings Versus EVA®" Thomas Hemmer "On the Not So Obvious Relation Between Risk and Incentives in Principal-Agent Relations" Wim A. Van der Stede (University of Southern California) "Causes and Effects of Subjectivity in Incentives" Dhinu Srinivasan (University of Pittsburgh) "Executive Compensation and Non-financial Performance Measures: A Study of the Incentive and Value Relevance of Mandated Non-financial Disclosures in the U.S. Airline Industry"
Theme: Global Capital Markets: The Accounting Challenges and Opportunities
Presenters: Gilad Livne, (London Business School) "An Empirical Investigation of the True and Fair Override." Peter Pope (University of Lancaster, UK) "Asymmetric Timeliness, Conservatism and Earnings Components: International Evidence." Zhihong Chen, (HKUST)
"Disclosure, Corporate Governance, and the Cost of Equity
Capital in Emerging Markets." Jing Liu. (UCLA) "Earnings Quality, Insider Trading, and Cost of Capital." V. Shyam Sunder. (Northwestern University) "Do Sophisticated Investors Understand Accounting Quality? Evidence from Bank Loans." Stephen Taylor. (University of New South Wales) "Non-Audit Services and Earnings Conservatism: Is Auditor Independence Impaired?' Jan Barton. (Emory University). "Who Cares About Auditor Reputation?" Clive Lennox. (HKUST) "Self-regulation of the Accounting Profession: Evidence on the AICPA Peer Review Program."
Theme: Accounting Information in Global Capital Markets
Presenters: Ole-Kristian Hope. (University of Toronto). " The Effects of SFAS 131 Gegoraphic Segment Disclosures on the Valuation of Foreign Earnings." Pramuan Bunkanwanicha. (University of Paris1- Pantheon-Sorbonne). "Tycoons Turned Leaders: Market Valuation of Political Power." Thomas Hemmer. (London School of Economics).
"On the Economic Value of Limiting Commitment in Agencies
with Renegotiation." Jong-Hag Choi. (HKUST). "Auditor Tenure and Audit Quality: Evidence from Going Concern Qualification Issued During 1996-2001." Franco Wong. (University of Chicago). "The Impact of Sarbanes-Oxley on Cross-listed Companies." Bin Ke. (Pennsylvania State University) "Jeopardy, Non-Public Information, and Insider Trading around SEC 10-K and 10-Q Filings." Yanfeng Xue. (University of Texas at Austin). "Information Content of Earnings Management: Evidence from Managing Earnings to Exceed Thresholds." Mark Vargus. (University of Texas at Dallas) "The Effect of the Threat of Litigation on Insider-Trading and Earnings Management." Gilles Hilary. (HKUST). "The Effects of Accounting and Disclosure Quality on Firm-level Investment."
Theme: Research on Accounting Quality
Presenters: Xiaojun Zhang. (University of California, Berkeley). " Conservatism and Accounting Information Quality." Partha. S. Mohanram. (Columbia University). "Conservatism and the Value Relevance of Accounting Information." Charles Shi. (University of California, Irvine). "Tightening Credit Standards: The Role of Accounting Quality." Rebecca Hann. (University of Southern California). "Fair-Value Pension Accounting?" Jennifer Yin. (University of Texas at San Antonio). "Disclosure versus Recognition of Option Expense: An Empirical Investigation of SFAS No.148 and Stock Returns." Mei Feng. (University of Pittsburgh). "Special Purpose Entities: Explaining Firm Sponsorship and Examining their Effect on Earnings." Nan Zhou. (SUNY at Binghamton). "Internal Control Weaknesses and Client Risk Management." Xiaohong Liu. (HKUST). " Consulting Revenue Sharing, Auditor Effort and Independence, and Regulation of Auditor Compensation." Guochang Zhang (HKUST). "Issuing Management Forecasts Concurrently with Earnings Announcement to Signal Earnings Quality."
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