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Going-Concern Opinions and Corporate Governance
SSRN Electronic Journal, 2018This paper looks into the issuance of auditor’s going-concern opinions and investigates how it triggers subsequent changes in corporate governance, specifically, the corporate control, executive compensation and management turnover. Using a difference-in-difference approach with the exogenous shock of Auditing Standard No. 5 (AS5) in 2007, we find that
Ning Ren, Yun Zhu
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Insider Trading, Litigation Concerns, and Auditor Going-Concern Opinions
The Accounting Review, 2012ABSTRACT: We investigate whether insider selling affects the likelihood of firms receiving auditor going-concern opinions. Prior studies document significant negative market reactions to the issuance of going-concern opinions, indicating that such opinions convey bad news to investors.
Chen, C, Martin, X, Wang, X
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Non-GAAP Disclosure Following Going Concern Opinions
Journal of Accounting, Auditing & Finance, 2023This paper examines whether firms change their non-GAAP reporting behavior after receiving a first-time going concern opinion (GCO). I find that the likelihood of disclosing non-GAAP earnings decreases while the quality of disclosed non-GAAP earnings increases following the receipt of a first-time GCO.
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Going Concern Opinion and Cost of Equity
AUDITING: A Journal of Practice & Theory, 2014SUMMARY: Prior studies document a negative market reaction to going concern opinions. We extend this literature by focusing on the link between the going concern opinion and the cost of equity capital. Using two different samples (one comprising distressed firms and the other matched on propensity score), we document a significant ...
Keval Amin +2 more
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Predicting going concern opinion with data mining
Decision Support Systems, 2008The auditor is required to evaluate whether substantial doubt exists about the client entity's ability to continue as a going concern. Accounting debacles in recent years have shown the importance of proper and thorough audit analysis. Since the 80s, many studies have applied statistical techniques, mainly logistic regression, as an automated tool to ...
Martens, David +4 more
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Going concern opinions and IPO pricing accuracy
Review of Quantitative Finance and Accounting, 2018In a marked shift, it has become relatively more common for ordinary initial public offerings (IPOs) to contain going concern opinions (GCOs) in their offering documents. Examining the implications of such GCOs for IPO investors in a sample of ordinary IPOs from 2001 to 2012, we find that GCOs increase price accuracy by reducing price revisions and ...
Natalia Matanova +3 more
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The Auditor's Going Concern Opinion Decision: A Pilot Study
International Journal of Auditing, 1999This research attempts to find empirical evidence of ex ante factors relating to the economic trade‐offs that an auditor faces when deciding whether or not to disclose going concern uncertainties in an audit report in a non‐litigious continental European setting, Belgium. The research methodology consists of univariate and logistic regression analysis.
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Going, Going, Still Here? Determinants and Reactions to Consecutive Going Concern Opinions
SSRN Electronic Journal, 2015This study examines whether audit firm knowledge and resources affect the likelihood a company receives consecutive going concern opinions. We also consider whether consecutive going concern opinions are useful to financial statement users. Recent comments from the FASB and PCAOB question the usefulness of going concern opinions to financial statement ...
Kathleen Harris +2 more
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THE INFORMATIVENESS OF GOING CONCERN OPINION: EVIDENCE FROM ITALY
European Journal of Management, 2016The aim of this paper is to disentangle the relation between GC exception in the Emphasis of Matter of unqualified opinion, modified opinion for GC and the opening of insolvency proceedings. Using a unique hand-collected database on audit opinions of 326 Italian listed companies from 2007 to 2011, we analyze audit opinions first using a GLM with fixed ...
Alessandro, Ghio +3 more
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Determinant Factors in Receiving Going Concern Audit Opinions
eCo-Fin, 2019The aims of this study is to determine whether or not there is (1)Impact of the Sustainability Report (SR) and company’s size towards acceptance of opinions going concern, (2) The Sustainability Report (SR) is categorized into three different dimensional disclosures based on guidelines made by the Global Reporting Initiative (GRI) that is The G4 ...
Rina Aprilyanti, Surachmat Wijaya
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