quality of accounting information (or “accounting quality”) is one such information imperfection that is associated with cross …-sectional variation in stock price delay. We define accounting quality as the precision with which financial reports convey information to … equity investors about the firm's expected cash flows. Poor accounting quality is likely associated with higher expected …

We test the hypotheses that (i) poor accounting quality is associated with delayed stock price adjustment to … information, and (ii) the accounting quality component of price delay predicts stock returns. We define accounting quality as the … results suggest poor accounting quality is associated with less timely price adjustment and higher future stock returns …

This paper provides a selective survey of Ohlson and Vuolteenaho-type accounting valuation models. The focus is on the …

-run sustainability of common pricing anomalies. They also highlight potential benefits to society of mark-to-market accounting …

restatements caused by changes in accounting principles to those caused by errors. Typically, investors perceive restatements as … negative signals due to three potential reasons: (i) the restatement indicates problems with the accounting system that may be … errors are not different from zero, suggesting that the perceived failure of the accounting system is just offset by the …