The effect of different levels of internal control over financial reporting regulation on the quality of accounting information: evidence from Korea

References

• Altamuro, J., and A. Beatty. 2010. “How Does Internal Control Regulation Affect Financial Reporting?” Journal of Accounting and Economics 49: 58–74.10.1016/j.jacceco.2009.07.002
   Web of Science ®Google Scholar
• Ashbaugh-Skaife, H., D. Collins, W. Kinney, and R. LaFond. 2008. “The Effect of SOX Internal Control Deficiencies and Their Remediation on Accrual Quality.” The Accounting Review 83: 217–250.10.2308/accr.2008.83.1.217
   Web of Science ®Google Scholar
• Barth, M. E., W. R. Landsman, and M. H. Lang. 2008. “International Accounting Standards and Accounting Quality.” Journal of Accounting Research 46: 467–498.10.1111/j.1475-679X.2008.00287.x
   Web of Science ®Google Scholar
• Becker, C., M. DeFond, J. Jiambalvo, and K. Subramanyam. 1998. “The Effect of Audit Quality on Earnings Management.” Contemporary Accounting Research 15: 1–24.10.1111/care.1998.15.issue-1
   Google Scholar
• Bedard, J. 2006. Reported Internal Control Deficiencies and Earnings Quality. Working Paper, Université Laval.
   Google Scholar
• Beneish, M. D., Mary Brooke Billings, and Leslie D. Hodder. 2008. “Internal Control Weaknesses and Information Uncertainty.” The Accounting Review 83: 665–703.10.2308/accr.2008.83.3.665
   Web of Science ®Google Scholar
• Burgstahler, D., and I. Dichev. 1997. “Earnings Management to Avoid Earnings Decreases and Losses.” Journal of Accounting and Economics 24: 99–126.10.1016/S0165-4101(97)00017-7
   Web of Science ®Google Scholar
• Chen, Q., T. Hammer, and Y. Zhang. 2007. “On the Relation between Conservatism in Accounting Standards and Incentives for Earnings Management.” Journal of Accounting Research 45: 541–565.10.1111/joar.2007.45.issue-3
   Web of Science ®Google Scholar
• Choi, Jong-Seo, and Kyung-Tae Gong. 2012. “Trends in Accrual Quality Subsequent to the Enforcement of Internal Accounting Control System.” Accounting and Auditing Research 54 (2): 299–341.
   Google Scholar
• Dechow, P. M. 1994. “Accounting Earnings and Cash Flows as Measured of Firm Performance: The Role of Accounting Accruals.” Journal of Accounting and Economics 18: 3–42.10.1016/0165-4101(94)90016-7
   Web of Science ®Google Scholar
• Dechow, P. M., R. G. Sloan, and A. P. Sweeny. 1995. “Detecting Earnings Management.” The Accounting Review 70: 193–225.
   Web of Science ®Google Scholar
• Doyle, J., W. Ge, and S. McVay. 2007a. “Determinants of Weakness in Internal Control Over Financial Reporting.” Journal of Accounting and Economics 44: 193–223.10.1016/j.jacceco.2006.10.003
   Web of Science ®Google Scholar
• Doyle, J., W. Ge, and S. McVay. 2007b. “Accruals Quality and Internal Control over Financial Reporting.” The Accounting Review 82: 1141–1170.10.2308/accr.2007.82.5.1141
   Web of Science ®Google Scholar
• De Franco, G., Y. Guan, and H. Lu. 2005. The Wealth Change and Redistribution effect of Sarbanes-Oxley Internal Control Disclosure. Working Paper, University of Toronto.
   Google Scholar
• Ge, W., and S. McVay. 2005. “The Disclosure of Material Weaknesses in Internal Control after the Sarbanes‐Oxley Act.” Accounting Horizons 19: 137–158.10.2308/acch.2005.19.3.137
   Google Scholar
• Geiger, Marshall A., and David S. North. 2006. “Does Hiring a New CFO Change Things? An Investigation of Changes in Discretionary Accruals.” The Accounting Review 81: 7809–7891.
   Google Scholar
• Gordon, L. A., Martin P. Loeb, William Lucyshyn, and Tashfeen Sohail. 2006. “The Impact of the Sarbanes-Oxley Act on the Corporate Disclosures of Information Security Activities.” Journal of Accounting and Public Policy 25: 503–530.10.1016/j.jaccpubpol.2006.07.005
   Google Scholar
• Hammersley, J., L. Myers, and C. Shakespeare. 2008. “Market Reactions to the Disclosure of Internal Control Weaknesses and to the Characteristics of Those Weaknesses Under Section 302 of the Sarbanes Oxley Act of 2002.” Review of Accounting Studies 13: 141–165.10.1007/s11142-007-9046-z
   Web of Science ®Google Scholar
• Healy, P., and J. Wahlen. 1999. “A Review of the Earnings Management Literature and Its Implications for Standard Setting.” Accounting Horizons 13: 365–383.10.2308/acch.1999.13.4.365
   Google Scholar
• Hermanson, H. S. 2000. “An Analysis of the Demand for Reporting on Internal Control.” Accounting Horizons 14: 325–341.10.2308/acch.2000.14.3.325
   Google Scholar
• Hochberg, Y., P. Sapienza, and A. Vissing-Jorgensen. 2009. “A Lobbying Approach to Evaluating the Sarbanes-Oxley act of 2002.” Journal of Accounting Research 47: 519–583.10.1111/joar.2009.47.issue-2
   Web of Science ®Google Scholar
• Hribar, P., and D. C. Nichols. 2007. “The Use of Unsigned Earnings Quality Measures in Tests of Earnings Management.” Journal of Accounting Research 45: 1017–1053.10.1111/joar.2007.45.issue-5
   Web of Science ®Google Scholar
• Jeong, S. W., and Joonwha Rho. 2004. “Big Six Auditors and Audit Quality: The Korean Evidence.” The International Journal of Accounting 39: 175–196.10.1016/j.intacc.2004.02.001
   Google Scholar
• Jung, K., and B. Kim. 2008. “Corporate Cash Holdings and Tax-Induced Debt Financing.” Asia-Pacific Journal of Financial Studies 37: 983–1023.10.1111/ajfs.2008.37.issue-6
   Google Scholar
• Kang, Junkoo, and Jae Seung Baek. 2001. “Determinants of Firm Value and Corporate Restructuring under Economic Shocks.” The Korean Journal of Finance 14: 199–250.
   Google Scholar
• Kasznik, R. 1999. “On the Association between Voluntary Disclosure and Earnings Management.” Journal of Accounting Research 37: 57–81.10.2307/2491396
   Web of Science ®Google Scholar
• Khanna, T., and K. Palepu. 1999. Emerging Market Business Groups, Foreign Investors, and Corporate Governance. NBER Working Paper No. 6995.
   Google Scholar
• Kim, Y., and Myung Seok Park. 2009. “Market Uncertainty and Disclosure of Internal Control Deficiencies under the Sarbanes-Oxley Act.” Journal of Accounting and Public Policy 28: 419–445.10.1016/j.jaccpubpol.2009.07.004
   Web of Science ®Google Scholar
• Kinney, W. 1990. “Assertions-based Standards for Integrated Internal Control.” Accounting Horizons 4: 1–8.
   Google Scholar
• Kinney, W. 2000. “Research Opportunities in Internal Control Quality and Quality Assurance.” Auditing: Journal of Practice and Theory 19: 83–90.
   Web of Science ®Google Scholar
• Kothari, S. P., A. J. Leone, and C. E. Wasley. 2005. “Performance Matched Discretionary Accrual Measures.” Journal of Accounting and Economics 39: 163–197.10.1016/j.jacceco.2004.11.002
   Web of Science ®Google Scholar
• Lee, Myung-Gon, Sang-Tai Choi, and Seok-Jin Chang. 2007. “Weaknesses in Internal Accounting Control System: Its Relation with Earnings Management and Information Risk.” Accounting and Auditing Journal 46: 61–97.
   Google Scholar
• Leuz, C., D. Nanda, and P. D. Wysocki. 2003. “Earnings Management and Investor Protection: an International Comparison.” Journal of Financial Economics 69: 505–527.10.1016/S0304-405X(03)00121-1
   Web of Science ®Google Scholar
• Niemeier, C. 2006. Remarks before the National Association of State Boards of Accountancy. Atlanta, GA. www.pcaobus.org.
   Google Scholar
• Ogneva, M., K. R. Subramanyam, and K. Raghunandan. 2007. “Internal Control Weakness and Cost of Equity: Evidence from SOX Section 404 Disclosures.” The Accounting Review 82: 1255–1297.10.2308/accr.2007.82.5.1255
   Web of Science ®Google Scholar
• Park, H. J., H. H. Shin, and W. S. Choi. 2004. “The Korean firms’ Agency Costs and Firm Value: Role of Foreign Investors’ Equity Ownership.” Korean Management Review 33: 655–682.
   Google Scholar
• Press, E. G., and J. B. Weintrop. 1990. “Accounting-based Constraints in Public and Private Debt Agreements.” Journal of Accounting and Economics 12: 65–95.10.1016/0165-4101(90)90042-3
   Web of Science ®Google Scholar
• Shin, Hyun Geol. 2007. “Analysis of Review Reports on Internal Control Systems.” Korean Accounting Journal 16: 107–128.
   Google Scholar
• Teoh, Siew H., Ivo Welch, and T. J. Wong. 1998. “Earnings management and the underperformance of seasoned equity offerings.” Journal of Financial Economics 50: 63–99.10.1016/S0304-405X(98)00032-4
   Web of Science ®Google Scholar
• Xie, B., W. No. Davidson III, Peter J DaDalt, and P. J. DaDalt. 2003. “Earnings Management and Corporate Governance: The Role of the Board and the Audit Committee.” Journal of Corporate Finance 9: 295–316.10.1016/S0929-1199(02)00006-8
   Web of Science ®Google Scholar
• Zhang, Y., J. Zhou, and N. Zhou. 2007. “Audit Committee Quality, Auditor Independence, And Internal Control Weaknesses.” Journal of Accounting and Public Policy 26: 300–327.10.1016/j.jaccpubpol.2007.03.001
   Google Scholar