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德勤－复旦会计论坛系列讲座之一百六十一

 

时　间：2019年4月16日（周二）下午14：00

地　点：史带楼604室

主持人：倪晨凯 副教授

演讲者：Gerald J. Lobo  (University of Houston)

主　题：Economic Policy Uncertainty and Financial Statement Comparability

摘　要：We examine the implications of economic policy uncertainty (EPU) for financial statement comparability. We posit that the increased difficulty of estimating future cash flows and the increased opportunity for earnings management reduce the quality of earnings and its comparability. Consistent with this reasoning, we find a negative relation between earnings comparability and lagged EPU and this relation is more pronounced for uncertainty relating to the consumer price index and for the news component of EPU. We also find that the relation between EPU and comparability is more negative for firms that historically manage earnings more and firms that have higher earnings volatility. We do not find that accounting policy choice is systematically related to the association between EPU and comparability. These results suggest that cross-sectional differences in accounting estimates rather than accounting policies drive the relation between EPU and comparability.

 

会计学系

2019-4-9