题目：Gao Hsu Li_public and private firm innovatio

主题：Broadening Accounting Research

This study examines the relation between customer concentration, a critically important aspect of a firm’s business strategy, and the level of corporate tax avoidance. A firm with a concentrated customer base needs to hold more cash, faces a higher likelihood of financial distress, and has an

主题：中国化的财务思维 The pursuit of wealth:Chinese-style financial philosophy

主题：上市公司退市制度变迁与展望

主题：发行制度变迁与展望

如果其盈利预测倾向于比实际值低，我们认为这些分析师是悲观的。在北美 市场上，我们发现盈利预测的悲观程度和未来的股票推荐回报是正相关的。然而，旨在 消除分析师利害冲突的监管措施出台后，这种关系不复存在。我们还发现，盈利预测和 推荐回报率的关系仅限于卖出信号的股票推荐，仅限于有投行业务的证券公司的分析师 的股票推荐，并且为机构投资者所减弱。我们也发现，盈利预测的悲观程度和分析师的 预测准确度没有关系，但对股票推荐回报率有持续性的影响。我们认为，分析师面临的 与投行业务相关的利害冲突是我们发现的背后原因，相关的监管措施也似乎是有效的。

题目：Earnings Downside Risk

题目：Do social ties between external auditors and audit committee members affect audit quality?

Prior studies suggest that analysts have incentives to bias their earnings forecasts, especially for longer horizon forecasts. We use the difference between analysts’ two-year and one-year-ahead earnings forecasts (FECH) as a measure of analysts’ biased incentives. We find that high FECH

Government responses to recent financial crises have imposed heavy burdens on the public finances of many countries, and exposed the weak links among the sources of fiscal information: budgets, accounts and finance statistics. In order to better understand the causes and effects of financial crises