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Articles 1 - 30 of 61
Full-Text Articles in Business
The Disparate Effects Of Non-Reliance Restatements On Retail And Institutional Investor Trading, Jason T. Bangert
The Disparate Effects Of Non-Reliance Restatements On Retail And Institutional Investor Trading, Jason T. Bangert
Doctoral Dissertations
The SEC seeks to mandate disclosures that effectively inform retail investor decision making. To evaluate these efforts, I investigate how retail investors, relative to institutional investors, process non-reliance restatements. I find that both retail and institutional investors revise expectations about firm value and modify investment decisions following these disclosures. However, in contrast to regulator efforts, the results suggest that the costs to process non-reliance restatements are disproportionately high for retail investors. Specifically, individuals tend to disagree regarding the implications of these disclosures for firm value, whereas institutions tend to draw similar inferences. Moreover, individuals take significantly longer than institutions to …
Firm Transparency Of Risk Oversight: An Examination Of Cybersecurity Governance Disclosures, Laurie E. Ereddia
Firm Transparency Of Risk Oversight: An Examination Of Cybersecurity Governance Disclosures, Laurie E. Ereddia
Doctoral Dissertations
In this study, I examine factors associated with firm transparency of board oversight using the setting of cybersecurity risk. The SEC requires that, to the extent cybersecurity risks are material, firms must disclose the nature of the board’s role in overseeing the management of that risk, allowing investors to assess how the board is fulfilling its risk oversight duties. Using textual analysis, I identify 2,921 firms that report material cybersecurity risk factors in their annual reports. From these firms’ 2021 proxy statement filings, I hand collect data relating to 12 different elements of cybersecurity board oversight and create an overall …
Shareholder Beware? Examining Nol Poison Pill Adoptions, Danielle Stanley
Shareholder Beware? Examining Nol Poison Pill Adoptions, Danielle Stanley
Doctoral Dissertations
This study examines whether or not a specific and unilateral action taken by the board of directors, the adoption of a net operating loss (NOL) poison pill, promotes shareholder interests, by examining the factors that are influential in the adoption decision. NOL poison pill adoptions are unique in that the board of directors cites the need to protect a firm’s ability to use its NOL carryforwards in the future, rather than to protect the firm from a specific takeover threat. To address my research question, I examine the firm characteristics associated with NOL poison pill adoptions and find that the …
Do Big 4 Auditors Provide Higher Audit Service Quality Than Second-Tier Auditors In Small And Mid-Sized Initial Public Offerings?, Stefan K. Slavov
Do Big 4 Auditors Provide Higher Audit Service Quality Than Second-Tier Auditors In Small And Mid-Sized Initial Public Offerings?, Stefan K. Slavov
Doctoral Dissertations
Big 4 auditors perform most audits of companies that issue initial public offerings (IPOs). Regulators have expressed interest in increasing IPO audit market competition and a growing body of evidence suggests that Second-Tier auditors could provide IPO audit service quality comparable to that of Big 4 auditors. However, there exists limited empirical evidence on whether IPO audit service quality varies with auditor type. I investigate whether IPO audit service quality differs between Big 4 and Second-Tier auditors for a sample of small and mid-sized IPOs from 2005 through 2019. I find that Big 4 clients are associated with lower pre-IPO …
Public Accounting Firm Statement Analysis: A Predictive Model To Identify Semantic Criteria To Enhance Firm Discussion Addressing Racial Injustice, Courtney Rochelle Lam
Public Accounting Firm Statement Analysis: A Predictive Model To Identify Semantic Criteria To Enhance Firm Discussion Addressing Racial Injustice, Courtney Rochelle Lam
Chancellor’s Honors Program Projects
No abstract provided.
The Auditor’S Application Of Professional Judgment: Evidence From M&A-Related Critical Audit Matters, Xi Ai
The Auditor’S Application Of Professional Judgment: Evidence From M&A-Related Critical Audit Matters, Xi Ai
Doctoral Dissertations
In this study, I examine the extent to which auditor attributes affect the auditor’s decision to communicate a Critical Audit Matter (CAM) in the expanded auditor’s report. I expect the CAM communication decision to be adversely affected by threats to independence and by auditor overconfidence. I focus on a sample of companies that completed material mergers and acquisitions because these are likely to be considered as potential CAMs by meeting the minimal requirements of a CAM (i.e., material accounts or disclosures that involve especially challenging, subjective, or complex auditor judgment). Contrary to expectations, I find that the auditor’s CAM communication …
Financial Feasibility And Factors That Lead To Profitability For Small-Scale Farmers In Rwanda., Saheed Adeniyi Orimadegun
Financial Feasibility And Factors That Lead To Profitability For Small-Scale Farmers In Rwanda., Saheed Adeniyi Orimadegun
Masters Theses
This study will analyze small-scale poultry farming in the Musanze district of Rwanda. Poultry farming offers a source of protein and economic subsistence for households in this region but studies suggest that the smallholder farmers need training for effective production of broiler for these purposes. To this end, a project - Feed the Future Tworore Inkoko, Twunguke (TI) - funded by the United States Agency for International Development (USAID) and the African Sustainable Agriculture Project (ASAP) Foundation, and led by the University of Tennessee Institute of Agriculture (UTIA) and Zamura Feeds Ltd., was initiated to help the smallholder broiler farmers …
The Impact Of Ceo Compensation Incentives On Financial Reporting Choices: Evidence From Potential Ghost Revenues Created In Mergers And Acquisitions, Jason A. Ashby
Doctoral Dissertations
When an acquirer purchases a target and assumes the target’s deferred revenue liability, accounting standards codification 805 requires that the acquirer recognize the target’s deferred revenue at its estimated fair value as of the acquisition date. If the target’s deferred revenue book value exceeds its fair value, the portion of deferred revenue written down will never be recognized as revenue for the acquirer under generally accepted accounting principles (GAAP). In this study, I investigate the impact of chief executive officers’ (CEOs’) compensation incentives on the fair value measurement of deferred revenue liabilities in acquisitions. If a larger proportion of CEO …
The Impact Of Fake News On Company Value: Evidence From Tesla And Galena Biopharma, David D. Parsons
The Impact Of Fake News On Company Value: Evidence From Tesla And Galena Biopharma, David D. Parsons
Chancellor’s Honors Program Projects
No abstract provided.
Determinants And Consequences Of Management Forecasts Of Key Performance Indicators: Evidence From The Airline Industry, Andrew Joseph Doucet
Determinants And Consequences Of Management Forecasts Of Key Performance Indicators: Evidence From The Airline Industry, Andrew Joseph Doucet
Doctoral Dissertations
In this study, I examine the determinants and consequences of quarterly management guidance of key performance indicators (KPIs). I use a novel dataset of 457 firm-quarter observations in the airline industry and hand-collect information on the existence and properties of quarterly KPI guidance. Specifically, I collect data on quarterly KPI guidance for three KPIs used in airline the industry: available seat miles, revenue per available seat mile, and cost per available seat mile. Consistent with managers using quarterly KPI guidance to reduce analyst uncertainty, I find that managers are more likely to provide quarterly KPI guidance when initial analyst earnings …
The Impact Of Big Data And Information Technology On The Accounting Field And Business Environment, Mitchell Kludt
The Impact Of Big Data And Information Technology On The Accounting Field And Business Environment, Mitchell Kludt
Chancellor’s Honors Program Projects
No abstract provided.
The Impact Of The 2017 Tax Cuts And Jobs Act On The Link Between Stock-Based Compensation And Corporate Debt Policy, Victoria Heavey
The Impact Of The 2017 Tax Cuts And Jobs Act On The Link Between Stock-Based Compensation And Corporate Debt Policy, Victoria Heavey
Chancellor’s Honors Program Projects
No abstract provided.
Tennessee's Qualified Opportunity Zones: An Empirical Analysis Of Tract Selection, Bradley J. Battle
Tennessee's Qualified Opportunity Zones: An Empirical Analysis Of Tract Selection, Bradley J. Battle
Chancellor’s Honors Program Projects
No abstract provided.
How Artificial Intelligence And Machine Learning Will Change The Future Of Financial Auditing: An Analysis Of The University Of Tennessee's Accounting Graduate Curriculum, Kaylee M. Giles
Chancellor’s Honors Program Projects
No abstract provided.
State Aid: How Economic Development Trumps Tax Revenue, Kristen Leigh Purcell
State Aid: How Economic Development Trumps Tax Revenue, Kristen Leigh Purcell
Chancellor’s Honors Program Projects
No abstract provided.
Auditor-Provided Tax Services And Audit Quality: Insights From Tax Comment Letters, Terence R. Williams
Auditor-Provided Tax Services And Audit Quality: Insights From Tax Comment Letters, Terence R. Williams
Chancellor’s Honors Program Projects
No abstract provided.
The Association Between Audit Committee Overboarding, Audit Committee Responses To Increased Workloads, And Financial Reporting Quality After Sox, John Kyle Castonguay
The Association Between Audit Committee Overboarding, Audit Committee Responses To Increased Workloads, And Financial Reporting Quality After Sox, John Kyle Castonguay
Doctoral Dissertations
The Sarbanes-Oxley Act (SOX) added a multitude of financial oversight responsibilities to the audit committee of public companies. These responsibilities increased the amount of time each audit committee member needed to devote to each committee served, leading to concerns amongst regulators and the investing community that audit committees that were overboarded and serving on multiple other board seats would be unable to effectively monitor the companies they represented. I find that these concerns are undue. More overboarded audit committees have adequately adjusted to their increased workloads in the decade since SOX to such a degree that they have lower misstatement …
Implicit Taxes In Imperfect Markets, Hannah Elizabeth Smith
Implicit Taxes In Imperfect Markets, Hannah Elizabeth Smith
Doctoral Dissertations
Implicit taxes are defined as the pre-tax rate of return disadvantage earned on an investment that is taxed preferentially. Implicit tax theory predicts that implicit taxes will fully offset any benefit from preferential tax treatment leading to no benefit from lower explicit taxes; however, implicit tax theory assumes perfect market competition. This paper relaxes the assumption of perfect market competition and finds that firms in industries with lower competition bear lower implicit taxes, and firms in industries with higher competition bear higher implicit taxes. These findings are consistent with firms in industries with less competition having price setting power. Further, …
The Impact Of Increased Tax Return Reporting On Financial Statement Tax Disclosure Quality: Evidence From Irs Schedule Utp, Michelle Kim Harding
The Impact Of Increased Tax Return Reporting On Financial Statement Tax Disclosure Quality: Evidence From Irs Schedule Utp, Michelle Kim Harding
Doctoral Dissertations
This study uses the 2010 implementation of IRS Schedule UTP (Uncertain Tax Position) to examine the impact of additional tax return reporting on financial statement tax disclosure quality. Using a hand-collected sample, I find that firms reduce the quality of their Financial Accounting Standards Board Interpretation No. 48 (FIN 48) disclosures for Accounting for Uncertainty in Income Taxes in response to increased proprietary costs of disclosure following the adoption of IRS Schedule UTP. Standard setters intended FIN 48 disclosures to benefit investors. Contrary to this intended outcome, I find that as tax return reporting increases, firms reduce discretionary FIN 48 …
Corporate Political Activity, Ceo Hubris, And Earnings Management, Abbey Rozanski
Corporate Political Activity, Ceo Hubris, And Earnings Management, Abbey Rozanski
Chancellor’s Honors Program Projects
No abstract provided.
Taxation And Economic Inequality: An Analysis Of Income Taxes And Their Impact On Various Levels Of Income, Thomas C. Jones
Taxation And Economic Inequality: An Analysis Of Income Taxes And Their Impact On Various Levels Of Income, Thomas C. Jones
Chancellor’s Honors Program Projects
No abstract provided.
How To Decrease Employee Turnover Rates Within Public Accounting Firms, Hannah Jankowski
How To Decrease Employee Turnover Rates Within Public Accounting Firms, Hannah Jankowski
Chancellor’s Honors Program Projects
No abstract provided.
The Issuer-Pays Model: “Big Four” Auditors And Credit Rating Agencies Share A Common Conflict, Patrick S. Whalen
The Issuer-Pays Model: “Big Four” Auditors And Credit Rating Agencies Share A Common Conflict, Patrick S. Whalen
Chancellor’s Honors Program Projects
No abstract provided.
Accounting For A Developing World: A Look At International Standards On Developing Countries, Samuel C. Thompson
Accounting For A Developing World: A Look At International Standards On Developing Countries, Samuel C. Thompson
Chancellor’s Honors Program Projects
No abstract provided.
How And When Matters: An In-Depth Look At Tennessee Public Accounting Professionals’ Perceptions Of International Accounting, Jordan Alexander Tipton
How And When Matters: An In-Depth Look At Tennessee Public Accounting Professionals’ Perceptions Of International Accounting, Jordan Alexander Tipton
Chancellor’s Honors Program Projects
No abstract provided.
Healthcare And The Market: An Event Study On The 2012 Reelection Of President Barack Obama, Robert Parrish Graham
Healthcare And The Market: An Event Study On The 2012 Reelection Of President Barack Obama, Robert Parrish Graham
Chancellor’s Honors Program Projects
No abstract provided.
Accounting Information Risk And Credit Ratings, Douglas Ray Ayres
Accounting Information Risk And Credit Ratings, Douglas Ray Ayres
Doctoral Dissertations
Using a sample of U.S. firms, this study explores whether accounting information risk has an impact upon corporate credit ratings, a long term measure of the cost of debt. Theory suggests that accounting information risk could impact shorter term measures of the cost of debt, but is unclear as to whether it will have measurable effects upon the long term cost of debt. This study employs SFAS 157 level three fair value disclosures as a proxy for accounting information risk. The findings suggest higher levels of accounting information risk negatively impact credit ratings. This is supported by both levels and …
Are Auditor And Audit Committee Report Changes Useful To Investors? Evidence From The United Kingdom, Lauren Carse Reid
Are Auditor And Audit Committee Report Changes Useful To Investors? Evidence From The United Kingdom, Lauren Carse Reid
Doctoral Dissertations
Recently, U.S. and international regulators have proposed significant changes to auditor and audit committee reporting with the stated intention of delivering more useful information to stakeholders. Whether new disclosure requirements achieve this intended benefit, however, is unknown. Exploiting the exogenous shock of the recent changes to auditor and audit committee reports in the United Kingdom, I find that information asymmetry significantly decreased following the implementation of the new disclosure regime. Furthermore, I find that reductions in information asymmetry are greater for firms with weaker information environments, suggesting that the new disclosure requirements particularly benefit investors in these firms. Additionally, I …
Troubled Asset Relief Program: Impact As Seen In The Agricultural Sector, Georgia Maye Ralston
Troubled Asset Relief Program: Impact As Seen In The Agricultural Sector, Georgia Maye Ralston
Chancellor’s Honors Program Projects
No abstract provided.
Troubled Asset Relief Program: Impact As Seen In The Agricultural Sector, Georgia Maye Ralston
Troubled Asset Relief Program: Impact As Seen In The Agricultural Sector, Georgia Maye Ralston
EURēCA: Exhibition of Undergraduate Research and Creative Achievement
I extend Butler and Cornaggia (2011) to examine the impact on agricultural productivity of shocks in access to capital and the impact of the Troubled Asset Relief Program (TARP) in moderating these shocks. Adapting their empirical methodology in Butler and Cornaggia (2011), I find that the financial crisis of 2008 exacerbates the negative relation between counties with low access to capital and productivity. Further, I find that this negative relation is reduced in counties where more banks took advantage of TARP financing. My results underscore the impact of access to capital on productivity and also suggest that the TARP has …