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


Wang, P., Masli, A. & Peters, G. The impact of voluntary disclousre on auditors' perceived business risk. Contemporary Accounting Research.

Wang, P. An Empirical Analysis of the Effect of Accounting-Based Debt Covenant Disclosures on Shareholder Wealth. Review of Accounting and Finance.

Wang, P. & Darrough, M. Earnings warnings and CEO welfare. Journal of Business Finance & Accounting.

Wang, P. & Darrough, M. Do peer warnings affect relative performance evaluation?. Accounting Horizons.

Wang, P. Relative Performance Evaluation: Evidence from Warnings and Tip-offs. Accounting Horizons.

Wang, P. & Darrough, M. Earnings warnings and CEO welfare. Journal of Business Finance & Accounting.

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

Wang, P. & Darrough, M. (2011, December). Earnings Warnings and CEO Welfare. Rutgers Accounting Seminar, Newark, New Jersey

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.

PROFESSIONAL MEMBERSHIPS

  • American Accounting Association , January 1 , 2006

COLLEGE SERVICE

  • 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

  • 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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