Our Faculty

Ping Wang

Assistant Professor

Lubin School of Business

Accounting

Location
  • @New York City

Education


PhD , City University of New York , 2011

Awards and Honors

  • American Accounting Association Mid-Atlantic Meeting, 2011

Publications


Reidenbach, M. & Wang, P. Heartland Payment Systems: Cybersecurity Impact on Audits and Financial Statement Contingencies. Journal of Accounting Education.

Shi, L., Wang, P. & Zhou, N. Enhanced disclosure of other comprehensive income and increased value relevance of net income: The impact of Accounting Standards Update 2011-05. Research in Accounting Regulation. http://https://www.journals.elsevier.com/research-in-accounting-regulation

Wang, P. An Empirical Analysis of the Effect of Accounting-Based Debt Covenant Disclosures on Shareholder Wealth. International Journal of Disclosure and Governance.

Darrough, M. & Wang, P. Do Peer Warnings Affect CEO Compensation?. Accounting Horizons.

Wang, P., Darrough, M., Shi, L. & , . (2016, October (4th Quarter/Autumn) 1). Earnings warnings and CEO welfare. Journal of Business Finance & Accounting. Vol 43 (Issue 9-10) , pages 1197-1243. http://onlinelibrary.wiley.com/doi/10.1111/jbfa.12213/full

Wang, P., Darrough, M. & Guler, L. (2014, June 24). Goodwill Impairment Losses and CEO Compensation. Journal of Accounting, Auditing & Finance. http://jaf.sagepub.com/

PRESENTATIONS


Reidenbach, M. & Wang, P. (2015, October 8). North American Case Research Association Conference. NACRA, Orlando, FL

Wang, P. (2015, January 16). American Accounting Association Financial Accounting and Reporting Section Midyear Meeting. Relative Performance Evaluation: Evidence from Warnings and Tip-offs. Nashville, TN

Wang, P. (2014, October 4). American Accounting Association Northeast Region Meeting. Earnings Warnings and CEO Welfare.. Albany, NY

Wang, P. (2013, April 30). Pace Research Day. Pace University

Wang, P. (2013, April 18). American Accounting Association Mid-Atlantic Meeting. Goodwill Impairment Losses and CEO Compensation. American Accounting Association, Parsippany, NJ

Grants, Contracts and Sponsored Research

Wang, P. (2015, May). Management Guidance and External Audit Engagement.
Lubin School of Business , Pace University , $2,500.00 . Funded,The objective of this study is to examine the relation between management guidance and external audit engagement. Although there is an extensive literature on management guidance, little evidence is available on how management guidance affects attributes of external audit. This question is important because management guidance has been the focus of accounting profession for the last two decades, and it is documented that the information revealed from management guidance affects market returns (Anilowski, Feng and Skinner 2007), equity offerings (Lang and Lundholm 2000), analysts followings (Lang and Lundholm 2006), etc. Since auditors are an integral part of capital markets, it is important to understand the implication of management guidance on auditors as well. Two recent papers just started looking into this issue. Ball, Jayaraman and Shivakumar (2012) document that audited financial reporting and voluntary disclosure of managers' private information are complementary mechanisms because the resources devoted to an independent audit allows managers to credibly disclose private information. More closely related to our study is Krishnan, Prevzner and Sengupta (2012). They provide evidence that current period audit fees are positively associated with (1) the issuance of management earnings forecast in the prior period and (2) the errors and bias in the forecasts, suggesting that management forecast captures the level of business risk for the auditors. More interestingly, Feng and Li (2014) found that auditors differentiate and exercise professional skepticism about management earnings forecasts that vary in credibility. In particular, they find that auditors underweight management earnings forecasts with low perceived credibility (measured by missing their own forecasts and predicting high earnings increases or high earnings). Therefore, different types of earnings guidance may play a very different roll when it comes to audit decisions. When faced with an impending negative earnings surprise, CEOs have to decide whether or not to voluntarily issue earnings warnings. A warning is negative earnings guidance issued when a firm expects that its actual earnings will fall short of the existing market expectations. In this paper, Although management guidance in general encompasses positive, neutral, and negative guidance, we focus on earnings warnings in this study because (1) prior literature has shown that positive earnings guidance is less value-relevant and less credible compared to negative earnings guidance (Sansing 1992; Jennings 1987; Hutton, Miller, and Skinner 2003; Rogers and Stocken 2005); (2) warnings are more value-relevant than the earnings guidance that are simply neutral and confirming; (3) studies have shown that warnings decrease firm litigation costs (Skinner 1997). We then examine different aspects of external audit engagement, including audit fee, audit report lag (the time period between a company's fiscal year end and the date of the audit report) and going concern opinion. Our results show that firms that issue warnings have lower audit fees, shorter audit lag, and fewer going concern opinions. We also split the sample into fourth quarter warnings and non-fourth quarter warnings. Contrary to our expectation, the untabulated results show that fourth quarter warnings and non-fourth quarter warnings do not differ in this context. Our study makes two contributions to the literature. First, auditing literature so far has provided mixed evidence regarding how the voluntary disclosure affects auditors' decision. Krishnan et al. (2011) find that the issuance of an annual or quarterly management earnings forecast in the prior period is positively associated with the current period audit fees. Further, they find audit fees to be positively associated with the error and the bias in the forecasts for annual earnings forecasts. Another study by Feng and Li (2014) examines whether auditors exercise professional skepticism about management earnings forecasts when making going-concern decisions; they conclude that management earnings forecasts are negatively associated with both auditors' going-concern opinions and subsequent bankruptcy. To shed more light on how different types of management guidance affect audit process, we complement this stream of research by focusing on the effect of earnings warnings (negative earnings guidance) on audit outcomes. Second, we contribute to the management guidance literature by documenting how management guidance provides one of the important market player, auditors, useful information in assessing companies' audit risk.

MEDIA CONTRIBUTIONS

  • Dow Jones Institutional News [Internet], July 18 2016
    I was also interviewed by a wall street journal reporter, Theo Francis. He later wrote the report which was published on Dow Jones Institutional News (see below) Research: Incentives Discourage Profit Warnings -- Market Talk 134 words 18 July 2016 14:08 Dow Jones Institutional News DJDN English Copyright © 2016, Dow Jones & Company, Inc. 14:07 ET - Pay and job-security incentives appear to discourage CEOs from warning investors about negative earnings surprises, according to a forthcoming paper in the Journal of Business Finance and Accounting from researchers at Pace University, Baruch College-CUNY and Binghamton University. CEOs who issue profit warnings near quarter-end were more likely to lose their jobs the next year than those delivering a negative surprise without warning; but that risk rises if company shares are lagging, Pace's Ping Wang said. CEOs who warned also got smaller bonuses and more options than those who didn't. The study examined US companies from 1996 through 2010. (theo.francis@wsj.com; @theofrancis) (END) Dow Jones Newswires July 18, 2016 14:08 ET (18:08 GMT) Dow Jones & Company, Inc. Document DJDN000020160718ec7i002mn

PROFESSIONAL MEMBERSHIPS

  • American Accounting Association , January 1 , 2006

COLLEGE SERVICE

  • Lubin Lab Task Force [Committee Member]
    Desc: I was one of the three faculty members on the Lubin Lab Task Force to design a new classroom for Lubin. We work together with Dean Braun and people at ITS to make the lab both functional and flexible for Lubin faculty and students.
    Committee's Key Accomplishments: We met two vendors and selected one. Also three of us as faculty representatives met and surveyed other faculty to seek opinions about the preferred class layouts, chairs, tables, etc. After we reported our recommendations to the task force.
  • Graduate Student Relation Committee [Committee Member]
    Desc: We met once in Fall 2016. Since the majority of our graduate students at Lubin are international students, we always feel the need to engage them more and make them more comfortable on campus. I proposal to the committee a pilot program in the Accounting Department that is to host a “meet and greet” for international students. The committee also asked me to report back in Spring about the proposal event. This event is to connect international students with faculty. I met with Charles and two student club leaders several times during the semester to plan for the event. This even is all set and scheduled on February 22 at Bianco Room.
  • Lubin Faculty Scholarship Committee [Committee Chair]
    Desc: During Fall 2016, I co-chaired Faculty Scholarship Committee with Philip Cohen. The committee met twice during the semester. In the first meeting, we discussed the meeting Dean Braun had with the committee last semester and why the proposals were turned down. Therefore, the committee decided to delegate two faculty to meet with Dean Braun again in the Fall. Eric and I met with Dean Braun in Fall and we asked the Dean to express his opinions about what he wants this committee to achieve in order to help Lubin Faculty. After we talked to the Dean, we briefed the committee and based on the goals Dean mentioned, we have already formed two sub-committees to start working in Spring 2017.
  • ALPFA [Faculty Advisor]
    Desc: advising issues such as setting up events, promoting events, inviting guest speakers; solving problems related to listserv, etc.
  • ALPFA [Faculty Advisor]
    Desc: advising issues such as setting up events, promoting events, inviting guest speakers; collecting resumes for KPMG competition; solving problems related to listserv, etc.
    Committee's Key Accomplishments: ALPFA won Dean Emmanuel Heller Meritorious Service Award from SDACA Awards
  • Graduate Student Relations Committee [Committee Member]
    Desc: I attended the meeting on 10/8/2015 where we invited Associate Dean, Melissa Grant. The conclusion of our meeting includes a few initiatives: 1. getting the event calendar; 2. inviting faculty to partner with GS to promote the event attendance by adding the participation credit on the syllabus.
  • Lubin Faculty Scholarship Committee [Committee Member]
    Desc: I co-chaired the committee with Phil Cohen in Fall 2015. We met twice during Fall 2015. In addition to organizing both meetings, I also took the lead in proposing the template for applying for fund to cover editorial fees. We are currently in the process of finalizing the proposal and plan to submit it to the Dean's office.
  • Lubin inter-disciplinary data analytic task force [Committee Member]
    Desc: We met twice during Spring 2015 semester, on 2/23/2015 and 3/23/2015. As a department representative on this committee, I worked with other members on designing a faculty survey to gather more information about what we are currently doing related to analytics. Additionally, I also wrote a summary report for the accounting department on the current state of the analytics coverage, the desired analytics coverage, and recommendation to fill the gap. Lastly, I also wrote a case related to business analytics that could be implemented in ACC302 and submitted it to the department Chair for consideration. I spent about 20 hours on this committee work.
  • ALPFA [Faculty Advisor]
    Committee's Key Accomplishments: advising issues such as setting up events, promoting events, inviting guest speakers; collecting resumes for KPMG competition; solving problems related to listserv, etc.
  • Graduate Student Relations Committee [Committee Member]
  • Lubin Faculty Scholarship Committee [Committee Member]
    Committee's Key Accomplishments: We met in the fall 2014 and the committee initiated the discussion on faculty scholarship support initiatives. So far, the committee has gathered suggestions such as support for subscription fees, Graduate Assistants, statistical support, editorial support etc. Now the committee is trying to prioritize these requests.
  • Academic Resource Committee [Committee Member]
    Committee's Key Accomplishments: We discussed how we can advance technology use at school. I asked the committee to setting up a mobile white board in some of the large lecture hall. Now LHW is equipped with the mobile board which enhances teaching effectiveness greatly. We also identified research needs and requirements with respect to technology (hardware and software).
  • Academic Resource Committee [Committee Member]
    Desc: Utilize university resources to facilitate faculty's teaching and research
  • Graduate Student Relation Committee [Committee Member]
    Committee's Key Accomplishments: Graduate Assistantships can be used as a recruiting too, positioned as a scholarship for top students. Currently, students accept admission offers without knowing if they will get a Graduate Assistantship. The offer of an assistantship, with a stipend, may determine if the students attends Pace. The Student Relations Committee may be able to assist with the design of the new system and with any student relations problems that may arise from the transition of the process to a student recruitment mechanism.

UNIVERSITY SERVICE

  • University 101 [Student Org Advisor (Professional Org)]
    Desc: I voluntarily taught UNV101 class in Spring 2016. I meet with Lubin freshmen once a week in class. Each week, I had a theme such as resources on campus, activities on campus, different student organizations, how to manage time, how to adjust to college life, how to prepare for exams, etc. I also invited guest speakers from career center, counseling center, library, advisement office, studying abroad, etc. I also met with each student individually twice during the semester to check their progress and to make sure each of them was on the right track.
  • ALPFA [Faculty Advisor]
    Desc: Advise ALPFA on their events, guest speakers, eboard members' interviews; help them solve some problems such as fixing listserv issues.
  • Innovative Teaching Grant Review [Grant Proposal Reviewer, Internal]
    Desc: Pace has a university-wide innovative teaching grant Fall 2016. I was one of the 8 members that reviewed the proposals. Each of us was giving the 10 proposals submitted by faculty and read them before the committee met. Then the review committee met together and deliberated 2 hours whether or not to offer grant to each proposal.
  • Academic Resource Committee [Committee Member]
    Committee's Key Accomplishments: We discussed “Tech fluency innovation project” and also “report from the Ad Hoc committee on educational technology”. The committee made proposals related to different technology improvement projects. I spent about 2 hours on this committee work.
  • Faculty Advisor of ALPFA [Faculty Advisor]
    Desc: Advise ALPFA on their events, guest speakers, eboard members' interviews; help them solve some problems such as fixing listserv issues.
    Committee's Key Accomplishments: ALPFA won Dean Emmanuel Heller Meritorious Service Award from SDACA Awards in 2015
  • Research Day Faculty Review Committee [Committee Member]
    Desc: I was the member of the faculty review committee on the Research Day on 4/20/2015. I reviewed and scored 20 papers on 4/22/2015.
  • Academic Resource Committee [Committee Member]
    Committee's Key Accomplishments: We met twice during the academic year. We discussed how we can advance technology usage at school. My proposal of putting mobile white board in some classes was accepted and implemented.
  • Faculty Advisor of ALPFA [Faculty Advisor]
    Desc: Advise ALPFA on their events, guest speakers, eboard members' interviews; help them solve some problems such as fixing listserv issues.
  • Academic Resource Committee [Committee Member]
    Desc: Utilize university resources to facilitate faculty's teaching and research
  • Faculty Advisor of ALPFA [Student Org Advisor (Professional Org)]
    Desc: Starting in Spring 2012, I will be the faculty advisor of ALPFA chapter at Pace. I will be advising them on ALPFA/KPMG Case Competition.
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