American Accounting Association Financial Accounting and Reporting Section 2006 Midyear Meeting January 27–28, 2006 Atlanta, Georgia

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Preliminary Program

Friday, January 27, 2006

7:00 AM – 5:00 PM	Registration
8:00 AM – 11:45 AM	Doctoral Consortium Presenters: Illia Dichev, University of Michigan and Mark Nelson, Cornell University. Professor Nelson will cover experimental research in financial accounting, using recent research to illustrate key elements of good experimental method. Professor Dichev will focus on the key factors for a successful research career, including passion for research, creativity, and willingness to take risks.
NOON – 1:30 PM	Luncheon Speaker: Mark Jensen; Deloitte & Touche LLP, Venture Capital Services
2:00 PM – 5:00 PM	Plenary Session : Fair Value Moderator: Tom Linsmeier, Michigan State University Panelists To be announced.
5:45 PM – 7:45 PM	Welcome Reception

Saturday, January 28, 2006

7:00 AM – 4:00 PM	Registration
7:00 AM – 8:00 AM	Continental Breakfast
8:00 AM – 9:30 AM	Concurrent Sessions Teaching Session 1. Topic: Activities at the FASB and IASB. Presenters: Mary Barth, IASB and Katherine Schipper, FASB Research Session 1. Topic: Financial Reporting Quality Financial Reporting Quality, Capital Allocation Efficiency, and Financing Structure: An International Study by Kevin Jialin Sun Accounting Estimates: Pervasive, Yet of Questionable Usefulness by Theodore Sougiannis, Siyi Li, and Baruch Lev Using Cash Flow to Supplement Earnings Information in Equity Valuation by Kenton K. Yee Discussant: Jennifer Francis (Duke University) Research Session 2. Topic: The Sarbanes-Oxley Act Accruals Quality and Internal Control over Financial Reporting by Jeffrey T. Doyle, Weili Ge, and Sarah E. McVay Trends in Earnings Management in the Pre- and Post-Sarbanes Oxley Periods by Daniel A. Cohen, Aiyesha Dey, and Thomas Lys Internal Control Weakness and Cost of Equity: Evidence from SOX Section 404 Certifications by Maria Ogneva, Kannan Raghunandan, and K.R. Subramanyam Discussant: Suraj Srinivasan (University of Chicago) Research Session 3. Topic: Determinants of Analyst Forecast Bias Do Security Analysts Speak in Two Tongues? by Ulrike Malmendier and Devin M. Shanthikumar Are Affiliated Analysts More Likely Than Unaffiliated Analysts to Provide EPS Forecasts that Management Can Meet or Beat? by Bok Baik and Han Yi Do Buy-Side Analysts Out-Perform the Sell-Side? by Boris Groysberg, Paul M. Healy, Craig J Chapman, and Yang Gui Discussant: Patricia O'Brien (University of Waterloo)
9:30 AM – 10:00 AM	Break
10:00 AM – 11:30 AM	Concurrent Sessions Teaching Session 2. Topic: Restatements Presenter: Teresa E. Iannaconi, KPMG Research Session 4. Topic: Economic Consequences of Financial Reporting Standards The Relation between Geographic Earnings Disclosure and Trading Volume by Ole-Kristian Hope, Wayne B. Thomas, and Glyn J Winterbotham Accelerated Vesting of Employee Stock Options in Anticipation of FAS 123-R by Mohan Venkatachalam, Shivaram Rajgopal, and Preeti Choudhary The Credit Market Perception of Employee Stock Options by Yen-Jung Lee Discussant: Katherine Schipper (Financial Accounting Standards Board) Research Session 5. Topic: Consequences of Disclosure Regulation Regulation Fair Disclosure: How It Affected Disclosure Policies and Information Environments of Firms that Formerly Provided More Private Guidance by Isabel Yanyan Wang SEC Interventions and the Frequency and Usefulness of Non-GAAP Financial Measures by Ana Cristina Marques Manipulation, Increased Transparency, and Value Relevance of Non-GAAP Disclosures for Real Estate Investment Trusts (REITs) by Bok Baik, Bruce K. Billings, and Richard M. Morton Discussant: Carol Marquardt (New York University) Research Session 6. Topic: How Investors Use Analyst Forecasts Investor Reaction to Celebrity Analysts: The Case of Earnings Forecast Revisions by Sarah E. Bonner, Artur Hugon, and Beverly R. Walther Analyst Forecast Revision and Market Price Discovery Following Accounting Restatement by Ran Ron Barniv amd Jian Cao (Kent State University) How Do Individual Investors Use Analyst Forecasts? The Implications for Investor Reaction to Forecast Revisions and Earnings Surprises by Arianna S. Pinello Discussant: John Hand (University of North Carolina at Chapel Hill)
11:45 AM – 1:15 PM	Luncheon Speaker: Dan Dhaliwal, University of Arizona, Editor, The Accounting Review
1:30 PM – 3:00 PM	Concurrent Sessions Teaching Session 3. Topic: Mastering Alternative Teaching Approaches - Preparation for Instructors and Students Presenter: Peter Wilson, Boston College Research Session 7. Topic: Causes and Consequences of Managerial Guidance Voluntary Disclosure Strategy around Lockup Expirations: Evidence from Management Forecasts by Yonca Ertimur, Ewa Sletten, and Jayanthi Sunder Earnings Guidance and Managerial Myopia by Mei Cheng , K.R. Subramanyam and Yuan Zhang Is Silence Golden? An Empirical Analysis of Firms that Stop Giving Quarterly Earnings Guidance in the post Regulation-FD Period by Shuping Chen, Dawn A. Matsumoto, and Shivaram Rajgopal Discussant: Steve Baginski (University of Georgia Research Session 8. Topic: Herding in Capital Markets Herd Behavior in Voluntary Disclosure Decisions: An Examination of Capital Expenditure Forecasts by Nerissa C. Brown Timeliness of Analysts' Forecasts: The Informational Role of Follower Analysts by Pervin K. Shroff, Ramgopal Venkataraman, and Baohua Xin Industry-Wide Dynamics in Earnings Warnings by Senyo Y. Tse, and Jenny Tucker Discussant: Qi Chen (Duke University) Research Session 9. Topic: Constraints on Earnings Management To What Extent Does the Financial Reporting Process Curb Earnings Surprise Games? by Lawrence D. Brown and Arianna S. Pinello The Magnitude, Frequency, and Limiting Factors of Earnings Management for Capital Market Purposes: Evidence from the Issuance of Public Securities by Joseph H. Anthony, Bruce Bettinghaus, and David B. Farber Is More Monitoring Better? by Yanmin Gao Discussant: Sudipta Basu (Emory University)
3:00 PM – 3:30 PM	Break
3:30 PM – 5:00 PM	Concurrent Sessions Research Session 10. Topic: Rationality and Unsophisticated Investors The Disposition Effect and Motivated Reasoning in Investor Reaction to Corporate News by Jane M. Thayer Are Small Investors Naive About Incentives? by Devin M. Shanthikumar and Ulrike Malmendier Does the Market Understand Segment Reporting? by Chi-Wen Jevons Lee, Heng Yue and Xin Zhou Discussant: Joseph Weber (Massachusetts Institute of Technology) Research Session 11. Topic: Market Efficiency/Anomalies Loss Firms, Asset Pricing Controls, and Accounting Anomalies by Siew Hong Teoh and Yinglei Zhang Off-Balance-Sheet Activities, Earnings Persistence and Stock Prices: Evidence from Operating Leases by Weili Ge An Evaluation of the Causes and Consequences of In-Process Research and Development Restatements by Monica Banyi Discussant: Charles Wasley (University of Rochester) Research Session 12. Topic: Regulation of Capital Market Intermediaries Conflicts of Interest and Stock Recommendations - The Effects of the Global Settlement and Related Regulations by Ohad Kadan, Leonardo Madureira, Rong Wang, and Tzachi Zach Wealth Transfer Effects of Analysts' Deceitful Behavior by Gus De Franco, Hai Lu, and Florin P. Vasvari Measure for Measure: An Examination of the Association between Forecast Accuracy and Recommendation Profitability of Sell-side Analysts by Yonca Ertimur, Jayanthi Sunder, and Shyam V. Sunder Discussant: Kent L. Womack (Tuck School of Business at Dartmouth) Research Session 13. Topic: Earnings Benchmarks Earnings Management and the Emergence of Profitability by Michael Mosebach and Paul J. Simko Discussant: Ilia Dichev (University of Michigan) Beating Earnings Benchmarks and the Cost of Debt by John (Xuefeng) Jiang Discussant: Partha Sengupta (George Mason University) Intra-Year Shifts in the Earnings Distribution and Implications for Earnings Management by Joseph Kerstein and Atul Rai Discussant: Ilia Dichev (University of Michigan)
5:00 PM	Dinner on your own

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