An exclusive focus on bottom-line income misses important information about the quality of earnings. Accruals (the … increases that are accompanied by high accruals, suggesting low-quality earnings, are associated with poor future returns. We … performance, the behavior of individual accrual items, and discretionary versus nondiscretionary components of accruals …

We examine abnormal stock returns surrounding contemporaneous earnings and dividend announcements in order to determine … interaction effect.The abnormal return corresponding to any earnings or dividend announcement depends upon the value of the other … more credence to unanticipated dividend increases or decreases when earnings are also above or below expectations, and vice …

Stock returns are correlated with contemporaneous earnings growth, dividend growth, future real activity, and other …

operating profit of capital, I extend the model to include measurement error and analyze the cash-flow coefficient in …

We examine whether the Securities Exchange Act of 1934 increased the information content of corporate earnings … yields mixed results. We focus on whether the Act increased earnings informativeness, improving upon prior designs by … focusing on short earnings announcement windows and employing a difference-in-differences design to control for potential …