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SYSTEMATIC RISK AND ACCOUNTING CONSERVATISM
by
Zhen Qi
A Dissertation Presented to the
FACULTY OF THE USC GRADUATE SCHOOL
UNIVERSITY OF SOUTHERN CALIFORNIA
In Partial Fulfillment of the
Requirements for the Degree
DOCTOR OF PHILOSOPHY
(BUSINESS ADMINISTRATION)
August 2011
Copyright 2011 Zhen Qi
Object Description
| Title | Systematic risk and accounting conservatism |
| Author | Qi, Zhen |
| Author email | zqi@usc.edu;claudiaqizhen@hotmail.com |
| Degree | Doctor of Philosophy |
| Document type | Dissertation |
| Degree program | Business Administration |
| School | Leventhal School of Accounting |
| Date defended/completed | 2011-06-20 |
| Date submitted | 2011-07-06 |
| Date approved | 2011-07-06 |
| Restricted until | 2011-07-06 |
| Date published | 2011-07-06 |
| Advisor (committee chair) | Subramanyam, K.R. |
| Advisor (committee member) |
DeFond, Mark Zhang, Jieying Hsiao, Cheng |
| Abstract | In this paper I examine the relationship between systematic risk and accounting conservatism. I argue that in firms with higher systematic risk, managers have higher incentives to delay the recognition of bad news in the hope of future good news. They also face less demand for conservatism from investors and auditors. Consistent with my hypothesis, I find a significant and negative association between systematic risk and accounting conservatism, robust to the effects of various known determinants of conservatism. Results from a lead-lag test suggest that the direction of causality flows from systematic risk to conservatism, and not vice versa. Unsystematic risk, however, is not significantly related to conservatism. Furthermore, the effect of systematic risk on conservatism is likely to originate from downside systematic risk, rather than upside risk. My findings highlight the important role that systematic risk may play in shaping managers’ reporting behavior. |
| Keyword | systematic risk; accounting conservatism; beta; agency theory |
| Language | English |
| Part of collection | University of Southern California dissertations and theses |
| Publisher (of the original version) | University of Southern California |
| Place of publication (of the original version) | Los Angeles, California |
| Publisher (of the digital version) | University of Southern California. Libraries |
| Provenance | Electronically uploaded by the author |
| Type | texts |
| Legacy record ID | usctheses-m |
| Contributing entity | University of Southern California |
| Rights | Qi, Zhen |
| Physical access | The author retains rights to his/her dissertation, thesis or other graduate work according to U.S. copyright law. Electronic access is being provided by the USC Libraries in agreement with the author, as the original true and official version of the work, but does not grant the reader permission to use the work if the desired use is covered by copyright. It is the author, as rights holder, who must provide use permission if such use is covered by copyright. The original signature page accompanying the original submission of the work to the USC Libraries is retained by the USC Libraries and a copy of it may be obtained by authorized requesters contacting the repository e-mail address given. |
| Repository name | University of Southern California Digital Library |
| Repository address | USC Digital Library, University of Southern California, University Park Campus MC 7002, 106 University Village, Los Angeles, California 90089-7002, USA |
| Repository email | cisadmin@dots.usc.edu |
| Archival file | uscthesesreloadpub_Volume71/etd-QiZhen-53.pdf |
Description
| Title | Page 1 |
| Contributing entity | University of Southern California |
| Repository email | cisadmin@dots.usc.edu |
| Full text | SYSTEMATIC RISK AND ACCOUNTING CONSERVATISM by Zhen Qi A Dissertation Presented to the FACULTY OF THE USC GRADUATE SCHOOL UNIVERSITY OF SOUTHERN CALIFORNIA In Partial Fulfillment of the Requirements for the Degree DOCTOR OF PHILOSOPHY (BUSINESS ADMINISTRATION) August 2011 Copyright 2011 Zhen Qi |
