Business Commons^™

More Accounting Changes: Financial Reporting Through The Age Of Crisis And Globalization, Robert Bloom

2017 Faculty Bibliography

No abstract provided.

Can Investors Benefit From Using Morningstar's Stewardship Grades?, Scott B. Moore, Gary E. Porter

2017 Faculty Bibliography

Interest in governance led Morningstar to develop a summary measure for mutual fund governance. In contrast to previous work in this area, we focus on whether and how individual investors can use the Stewardship Grade Overall to improve mutual fund selection. We find that regardless of fee structure, top overall governance grade funds impose lower costs on investors regardless of fund investment style. We also find some evidence that choosing funds with the highest stewardship grade may earn positive risk adjusted returns. Stewardship Grade overall may therefore help less sophisticated investors identify better-performing mutual funds.

Audit Fee Discounting In The Post-Sox Environment, Albert Nagy, Benjamin W. Hoffman

2017 Faculty Bibliography

Purpose – This paper aims to investigate whether the expected implementation of Section 404(b) of the Sarbanes-Oxley Act (SOX 404(b)) (the integrated audit requirement) caused auditors to discount their audit fees for non-accelerated filers in anticipation of expected increased future economic rents (DeAngelo, 1981) from those clients.

Design/methodology/approach – This paper predicts that auditors charged their non-accelerated filer clients lower audit fees during the years 2005-2007 (in anticipation of increased expected future economic rents from the implementation of the SOX 404(b) requirement) compared with the years 2010- 2012 (when it had been determined that non-accelerated filers were permanently exempt from …

The Median Employee To Ceo Pay Ratio Disclosure Requirement, Robert Bloom

2017 Faculty Bibliography

In recent years, especially in national political campaigns, there has been much discussion about who is in the top 1% of American wealth, how they landed in this category, and what special income tax provisions perpetuate their status. As a reaction to this debate in this category, the Dodd Frank Act and the Consumer Protection Act of 2010 have mandated disclosure by publicly registered companies to disclose the median employee to CEO pay ratio. The Securities and Exchange Commission has issued specific guidance on this requirement. That is the subject of this article.