Séminaires de Recherche

A déterminer

Comptabilité et Contrôle de Gestion

Intervenant : Bruce Carruthers
Northwestern University

20 octobre 2017 - HEC Paris - salle T004 - De 14h00 à 16h00


A déterminer

Comptabilité et Contrôle de Gestion

Intervenant : Qiang Cheng
Singapore Management University

18 octobre 2017 - HEC Paris - salle T004 - De 14h00 à 16h00


“The quality of earnings and non-earnings information in stock returns, and their relative effect on the cost of equity”

Comptabilité et Contrôle de Gestion

Intervenant : Eli Amir
Tel Aviv University

6 octobre 2017 - HEC Paris T004 - De 14h00 à 16h00


While prior literature shows that the quality of earnings information explains the variation in firms’ cost of equity, earnings information, after all, represents only a small part of firm specific, value-relevant, information. In addition, whereas different firms report earnings according to similar rules, their information environment on non-disclosure days is more heterogeneous. Using daily stock returns, we estimate the quality of information during earnings and non-earnings announcement days, and find that although the quality of information increases during earnings announcements, it explains less of the variation in expected returns than the quality of information on non-earnings days. Our findings suggest that the quality of earnings has but only a small effect on the cost of equity relative to the quality of information released on non-earnings days.

Séminaire HEC/ESSEC - Localization of Global Accounting Practices: A comparative analysis of practice variation in response to institutional complexity

Comptabilité et Contrôle de Gestion

Intervenant : Eksa Kilfoyle
University of Windsor, Ontario, Canada

20 juin 2017 - Champerret - Amphi 461 - De 14h00 à 16h00


We conduct a comparative analysis of the initial stages of implementation of global accounting and control practices in two member organizations of an international network. We analyze organizational responses to institutional pressures. We attend to nested institutional levels and show how institutional logics, enacted by executives in early stages of implementation, mediate variations in the localized accounting and control practices. Our study contributes to understanding how field level pressures shape practice variation beyond loose coupling and decoupling. We also highlight the importance of early stages of localization of accounting practices, given the path dependent nature of institutions. Executive team decisions and actions in response to field level pressures in the early stages of localization shape organizational responses to the introduction of global accounting practices. We find that localized accounting and control practices are institutional hybrids and we propose a process that explains the source of variations in these accounting hybrids.

R Share Repurchases and Accounting Conservatism

Comptabilité et Contrôle de Gestion

Intervenant : Gerald Lobo
University of Houston

13 juin 2017 - HEC Paris - salle T004 - De 14h00 à 16h00


The prior literature indicates that financial policy (e.g., payout policy) as well as accounting policy (e.g., conservatism) can be used to address incentive problems in firms. Similar to findings in Louis and Urcan (2014) who study cash dividends, we find that stock repurchases, an increasingly popular form of payout, are negatively related to conservatism, suggesting that these mechanisms are substitutes. Extending this analysis, and focusing on a particular manifestation of the incentive problem (managerial propensity to engage in overinvestment using free cash flows), we find that in firms with high levels of free cash flows, the negative relation between share repurchase and conservatism is stronger. By contrast, we find that the substitution effect is weaker when CEO tenure is higher, which confirms that more powerful CEOs have less incentives to solve the overinvestment problem. In an ancillary test, we show that the stock market reaction to share repurchases is increasing in conservatism, suggesting that the relation between conservatism and repurchases is complex (i.e., with multiple dimensions).

Re-forming healthcare: The role of accounting artifacts

Comptabilité et Contrôle de Gestion

Intervenant : Jeff Everett
York University

2 juin 2017 - HEC Paris - salle T004 - De 14h00 à 16h00


This study examines the role accounting plays in major healthcare-policy-reform processes.
Focusing on a single hospital site in the African nation of Ghana, and starting from the practice theory of Pierre Bourdieu, the study analyzes how different forms, constructions, and classifications of accounting information—or accounting artifacts—shape policy regimes and facilitate particular patterns of activity and interaction. It further examines how these regimes and patterns, in conjunction with the embedded social memory or habitus of individual actors, in turn lead to the construction and use of new artifacts. The study also highlights how hospital staff and patients use various tactics to work with and around these artifacts, resulting in at times unintended consequences and the need to pursue new policy directions. In so doing, the study furthers our understanding of why policy-reform processes in the field of healthcare are so often sequential in nature.

6th Interpretive Accounting Workshop

Comptabilité et Contrôle de Gestion

19 mai 2017 - Champerret salle 411 - De 09h00 à 11h30


Accounting of and for the World Multiple: The Sales and Operations Forecast and The Enactment of ’The Flow of The Product

Comptabilité et Contrôle de Gestion

Intervenant : Jan Mouritsen
Copenhagen Business School

19 mai 2017 - HEC Champerret - Amphi 471 - De 14h00 à 16h00


This is a study of the role of accounting when the world is ontologically multiple. It analyses the construction of a Sales and Operational Planning (S&OP) forecast intended to coordinate laterally dependent processes of an inaccessible ‘underlying’ ‘flow of the product.’ This is important because much literature focuses on the constitutive dimensions of accounting whereby it deemphasises how the world may impact inscription work. Drawing on Latour’s two modes of existence – mode of substance and mode of reference – the paper analyses the development of a sales forecast intended to be mechanism from where all the firms’ – EuroTech – activities might be coordinated. It finds that not only accounting has a history but also the world and this emphasises the importance of so-called crossing points where accounting is imbued with new capability – not only inscription but also prescription, circumscription and conscription. During crossing points, accounting mechanism proliferate rather than substitute each other and they become engaged in articulating multiple ontologies; but only to a certain extent because coordination points towards an enduring problem of the frailty of multiply ontologies.

6th Interpretive Accounting Workshop

Comptabilité et Contrôle de Gestion

18 mai 2017 - Champerret salle 411 - De 14h00 à 18h00


Séminaire ESSEC/HEC - Direct Measures of Auditors’ Quantitative Materiality Judgments: Properties, Determinants and Consequences for Audit Characteristics and Financial Reporting Reliability

Comptabilité et Contrôle de Gestion

Intervenant : Katherine Schipper
Duke University

4 mai 2017 - CNIT Paris La Défense - Amphi 236 - De 11h00 à 13h00


For a large sample of audits carried out during 2005-2015 by eight large accounting
firms and inspected by the PCAOB, we provide evidence on the properties of auditors’
quantitative materiality judgments and the consequences of those judgments for both audit
characteristics (audit fees, audit hours, and detected misstatements) and financial reporting
outcomes (unreliable financial reports, proxied by restatements). We find that auditors’
quantitative materiality judgments do not appear to result only from applying conventional rulesof-
thumb, specifically, 5% of pre-tax income, but instead are associated with qualitative factors
suggested by authoritative guidance and with size-related financial statement outcomes (income,
revenues and assets); weights placed by auditors on these outcomes vary with client
characteristics such as profitability. We construct a materiality slack measure that makes
individual audit-firm-specific materiality judgments comparable with regard to whether they are
looser or tighter within boundaries specified by non-authoritative guidance in audit-firm policies.
We find that materiality slack (that is, relatively looser materiality) is associated with fewer audit
hours, lower audit fees, and a lower amount of detected misstatements. After controlling for
other factors including decisions to waive audit adjustments, we find evidence that looser
materiality judgments are associated with greater incidences of restatements.


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