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  • 【讲座信息】财金研究所第十六期学术报告

    发布者:财金学院 时间:2018年06月06日

    发布者:财金学院 时间:201861

      主题:Securitizations and Accounting Restatements

      主讲:王海平  助理教授  加拿大约克大学管理学院 

    主持:高翔  

      时间:0622日(周五)下午1330 -1500  

      地点:上海商学院徐汇校区14楼研讨室 

           

    内容提要:This study investigates whether accounting restatements are more likely to occur during the period of securitizations. Prior studies have found that securitizations can be used as an earnings management tool. However, such studies have not yet distinguished whether such earnings management is due to the discretion on when and which assets to securitize --- a real earnings management tool --- or to the discretion in the accounting estimates of securitization incomes --- an accrual earnings management tool. In this paper, using the incidence of accounting restatements as a proxy for accrual earnings management, we investigate whether securitizations are likely to be used as a tool for accrual earnings management. We find a positive and significant association between banks’ securitization activities and the likelihood of having accounting restatements. Moreover, this positive association is more pronounced in the pre-financial crisis period; and for banks with less independent or industry-specialized auditors. We conduct various robustness tests to ensure that our results are not driven by unintentional reporting errors or the endogeneity of the securitization decisions. Our findings suggest that managers intentionally use accounting treatment for securitizations to manage earnings. This is one of the very first papers to document evidence of securitization-related accrual earnings management. Our findings provide implications for standard setters and practitioners, as well as investors.

     

    专家介绍:王海平,毕业于加拿大蒙特利尔McGill UniversityConcordia UniversityUQAM,和HEC A Montreal的联合博士项目,并取得管理学博士学位,研究方向为管理会计。她目前担任加拿大约克大学管理学院的助理教授,研究领域包括:会计政策与资本市场对会计政策的反应、公允价值、公司绩效以及基金绩效等。王教授的文章发表于Advances in AccountingJournal of Forensic & Investigative AccountingChina Journal of Accounting ResearchInvestment Analysts JournalAsian Review of Accounting等领域内知名的学术期刊。    

    主办单位:上海商学院财金研究所

     承办单位:上海商学院财金研究所