Non‐GAAP reporting: Evidence from academia and current practice
梳理了近二十年关于非GAAP报告的学术研究，并利用新数据集描述了当前非GAAP报告的趋势和普及情况，为监管者和研究者提供了参考。
Abstract The number of firms reporting earnings on a non‐GAAP basis has increased dramatically over the last decade, and non‐GAAP reporting is now commonplace in capital markets. This proliferation of non‐GAAP reporting has renewed both regulators’ and standard setters’ interests in these alternative performance metrics. For example, the SEC, FASB, and IASB have all recently questioned what this increasing reporting trend means for IFRS‐ and US‐GAAP‐based reporting and whether these measures are misleading to investors. This increasing focus on non‐GAAP metrics motivates us to synthesize the nearly two decades of research on non‐GAAP reporting to provide insights on what academics have learned to date about this reporting practice. Then, we utilize a novel dataset of detailed non‐GAAP disclosures to provide new descriptive evidence on current trends in non‐GAAP reporting and its recent proliferation. Finally, we discuss important questions for future researchers to consider in moving the literature forward.