Securitization and Accounting Restatements

2014 ◽  
Author(s):  
Jing Zhang
Keyword(s):  
Accounting Restatements

scholarly journals Accounting Restatements

2006 ◽  
Vol 15 (3) ◽  
pp. 57-68 ◽  
Author(s):  
Jeffrey L. Callen ◽  
Joshua Livnat ◽  
Dan Segal
Keyword(s):  
Accounting Restatements

Accounting irregularities and failure to deliver

2014 ◽  
Vol 40 (8) ◽  
pp. 770-786 ◽  
Author(s):  
Naomi E. Boyd ◽  
Ann Marie Hibbert ◽  
Ivelina Pavlova
Keyword(s):  
Design Methodology ◽  
Institutional Ownership ◽  
Short Selling ◽  
Accounting Restatements ◽  
Content Type ◽  
Short Sellers ◽  
Naked Short Selling ◽  
The Relationship

Purpose – The purpose of this paper is to examine the relationship between naked short selling and accounting irregularities that cause a firm to issue a restatement. Design/methodology/approach – Using the level of abnormal fails-to-deliver as a proxy for naked short selling, the paper looks for evidence of increased naked short selling in anticipation of, as well as in response to these announcements. Findings – Larger firms and firms with a higher percentage of institutional ownership experience greater levels of fails prior to the announcement day, while smaller firms are more likely to be targets of naked short sellers after the announcement. The paper also finds that more transparent announcements are associated with more abnormal fails. Originality/value – This paper is the first research to study the relation between naked short selling and accounting restatements.

Exploring the Causes of Accounting Restatements by Family Firms

2013 ◽  
Vol 40 (9-10) ◽  
pp. 1068-1094 ◽  
Author(s):  
Shu-Hui Sue ◽  
Chen-Lung Chin ◽  
Ann Ling-Ching Chan
Keyword(s):  
Family Firms ◽  
Accounting Restatements

The Contagion Effects of Accounting Restatements

2008 ◽  
Vol 83 (1) ◽  
pp. 83-110 ◽  
Author(s):  
Cristi A. Gleason ◽  
Nicole Thorne Jenkins ◽  
W. Bruce Johnson
Keyword(s):  
Stock Prices ◽  
Earnings Forecasts ◽  
Shareholder Wealth ◽  
Share Price ◽  
Financial Statement ◽  
Accounting Quality ◽  
Contagion Effect ◽  
Accounting Restatements ◽  
Peer Firms ◽  
External Auditor

We predict and find that accounting restatements that adversely affect shareholder wealth at the restating firm also induce share price declines among non-restating firms in the same industry. These share price declines are unrelated to changes in analysts' earnings forecasts, but instead seem to reflect investors' accounting quality concerns. Peer firms with high industry-adjusted accruals experience a more pronounced share price decline than do low-accrual firms. This accounting contagion effect is concentrated among revenue restatements by relatively large firms in the industry. We also find that investors impose a larger penalty on the stock prices of peer firms with high earnings and high accruals when peer and restating firms use the same external auditor. Our results are consistent with the notion that some accounting restatements cause investors to reassess the financial statement information previously released by non-restating firms.

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