In this study we examine differences between sophisticated and unsophisticated investors' incorporation of information about the accuracy of sell-side analysts' revisions of quarterly earnings forecasts. Our results indicate that sophisticated investors' weights on information cues associated...

We examine whether short-term financial reporting objectives related to executive compensation and employment horizons affect managers' decisions to undertake accelerated share repurchases (ASRs) versus open market repurchases (OMRs). In an ASR, the firm repurchases borrowed shares and...

After controlling for economic performance (i.e., stock returns), we find that several proxies for analyst incentives as well as accounting-based fundamentals are related to an analyst's decision to drop coverage of a firm. When we separately consider the drop decisions of analysts with High vs....

This paper provides a comprehensive exploration of the types of accounting fraud committed by firms over the period 1995-2009. Using detailed data from US SEC Accounting and Auditing Enforcement Releases (AAER), we examine the likelihood and timing of analyst coverage decisions and...

Increasingly, shareholders and regulators have been calling for a reigning in of executive salaries. Most of this discussion has focused on bonuses and stock options, the more observable portions of an executive compensation package. However long term incentive pay, such as supplemental...

We examine whether analysts anticipate the public disclosure of accounting frauds by studying a sample of companies that have committed fraud as evidenced by the Security and Exchange Commission (SEC) issuance of an Accounting and Auditing Enforcement Release (AAER). We use survival analysis to...

“Little r” restatements occur when a firm's immaterial errors accumulate to a material error in a given year. Unlike “Big R” restatements, which must be reported through an SEC 8-K material event filing, little r restatements do not require an 8-K form or a withdrawal of the auditor...

We examine whether short-term financial reporting objectives related to executive compensation and employment horizons affect managers' decisions to undertake accelerated share repurchases (ASRs) versus open market repurchases (OMRs). In an ASR, the firm repurchases borrowed shares and...

We examine the structure of communications in accounting research by analyzing patterns of citations among authors who have published in five major journals between 1984 and 2008. Understanding communication structures is important because they shape academic knowledge creation, which prominent...

We examine the effects of analysts' celebrity on investor reaction to earnings forecast revisions. We measure celebrity as the quantity of media coverage analysts receive in sources included in the Dow Jones Interactive database, and find that media coverage is positively related to investor...