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Does the Bullwhip Matter Economically? A Cross-Sectional Firm-Level Analysis

Baron, Opher; Callen, Jeffrey L.; Segal, Dan - 2023

accounting/financial performance measures using a large panel of cross-sectional firm-level data. Our analyses yield results that …

Persistent link: https://www.econbiz.de/10014345199

Ex Ante Competitive Threats and Stock Price Crash Risk : Evidence from Antitrust Leniency Programs

Callen, Jeffrey L.; Fang, Xiaohua - 2023

We examine empirically the impact of ex ante competitive threats from potential foreign rivals on bad news hoarding/disclosure decisions. We find that stronger antitrust enforcement around the world causes domestic U.S. firms to exhibit lower levels of stock price crash risk. This is consistent...

Persistent link: https://www.econbiz.de/10014254050

Do Culture and Religion Mitigate Earnings Management? Evidence from a Cross-Country Analysis

Callen, Jeffrey L. - 2010

This study investigates whether culture in general and religion in particular mitigate earnings management. Using a cross-country data set, empirical tests based on rank regressions indicate that earnings management is unrelated to both religious affiliation and the degree of religiosity. In...

Persistent link: https://www.econbiz.de/10013136306

Dynamic Risk, Accounting-Based Valuation and Firm Fundamentals

Lyle, Matthew R. - 2012

This study extends the accounting-based valuation framework of Ohlson (1995) and Feltham and Ohlson (1999) to incorporate dynamic expectations about the level of systematic risk in the economy. Our model explains recent empirical findings documenting a strong negative association between changes...

Persistent link: https://www.econbiz.de/10013113246

Dynamic Risk, Accounting-Based Valuation and Firm Fundamentals

Lyle, Matthew R. - 2012

Persistent link: https://www.econbiz.de/10013108828

Credit Risk and IFRS : The Case of Credit Default Swaps

Bhat, Gauri - 2014

This study compares the pricing of credit risk information conveyed by accounting numbers under IFRS relative to local GAAP. We measure the price of credit risk by CDS spreads and focus on three fundamental accounting metrics that inform about credit risk: earnings, leverage and book value...

Persistent link: https://www.econbiz.de/10013069470

The Complementary Relationship Between Financial and Non-Financial Information in the Biotechnology Industry and the Degree of Investor Sophistication

Callen, Jeffrey L. - 2014

We examine whether financial and non-financial variables, separately and in tandem, are value relevant in explaining market returns, equity values and the degree of investment by sophisticated investors for a sample of drug development companies. Patent counts, number of collaborations and...

Persistent link: https://www.econbiz.de/10013069471

Accounting Conservatism and Performance Covenants : A Signaling Approach

Callen, Jeffrey L. - 2014

This study examines the private debt contracting relation between performance covenants and conservative accounting … lenders to themselves. We find that accounting conservatism and performance covenants act as complements to signal borrowers … conservatism and tight performance covenants generally enjoy lower interest rate spreads in comparison to borrowers with low levels …

Persistent link: https://www.econbiz.de/10013070814

Shocks to Shocks : A Theoretical Foundation for the Information Content of Earnings

Callen, Jeffrey L. - 2008

-linear Vector Autoregressive (VAR) process.One of the more ubiquitous applications of Ball-Brown analysis - and recently of the …

Persistent link: https://www.econbiz.de/10012727699

Nonlinear Cost Behavior and Biases in Activity Based Costs : The Case of Batch Production of Multiple Products

Callen, Jeffrey L. - 2008

The purpose of this paper is to model the sources and extent of the potential biases of Activity Based Costing in the context of product profitability decisions. In particular we investigate a common manufacturing setting--the batch scheduling of multiple (two) products on a single production...

Persistent link: https://www.econbiz.de/10012775084