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When does forecasting GAAP earnings entail unreasonable effort?

Laurion, Henry; Sloan, Richard G. - In: Journal of accounting & economics 73 (2022) 1, pp. 1-19

Persistent link: https://www.econbiz.de/10013191165

Accounting earnings and top executive compensation

Sloan, Richard G. - In: Journal of accounting & economics 16 (1993) 1, pp. 55-100

Persistent link: https://www.econbiz.de/10001144119

Explaining the Profitability Anomaly

Erhard, Ryan - 2020

We provide a new explanation for the profitability anomaly along with a battery of supportive empirical tests. Our explanation is based on the observation that investors frequently value stocks by assigning similar price-to-earnings multiples to stocks with similar expected firm growth. This...

Persistent link: https://www.econbiz.de/10012848353

Accrual Reversals, Earnings and Stock Returns

Allen, Eric J. - 2015

We document pervasive evidence of reversals in firm-level working capital accruals over adjacent fiscal years. We demonstrate that the majority of these accrual reversals relate to ‘good' accruals that: (i) correctly anticipate future benefits; (ii) lead to higher earnings persistence; and (iii)...

Persistent link: https://www.econbiz.de/10013039311

Stock Prices and Earnings : A History of Research

Dechow, Patricia - 2015

Accounting earnings summarize periodic corporate financial performance and are key determinants of stock prices. We review research on the usefulness of accounting earnings, including research on the link between accounting earnings and firm value and research on the usefulness of accounting...

Persistent link: https://www.econbiz.de/10013034812

Identifying Transitory Components of Earnings

Gardner, Jesse; Sloan, Richard G.; Yoon, Joon Sang - 2022

Distinguishing between recurring and transitory components of earnings is a critical task in financial statement analysis. Academics and quantitative investors often rely on measures derived from standardized financial databases in making this distinction. We use unobserved components modelling...

Persistent link: https://www.econbiz.de/10013403212

When Does Forecasting GAAP Earnings Entail Unreasonable Effort?

Laurion, Henry - 2020

SEC rules require managers to reconcile their non-GAAP forecasts with the most directly comparable GAAP measure unless … doing so would entail ‘unreasonable effort'. A significant and growing number of managers invoke the unreasonable efforts … exception to justify the omission of comparable GAAP forecasts. We analyze firms where managers invoke the unreasonable efforts …

Persistent link: https://www.econbiz.de/10012832687

Accounting for Employee Stock Options

Guay, Wayne R. - 2011

Accounting for employee stock options (ESOs) is controversial, with many arguing that it has substantial economic consequences. Such arguments rely on the assumption that one or more interested parties fixate on accounting numbers and fail to understand the real costs and benefits of ESOs. We...

Persistent link: https://www.econbiz.de/10012757290

Information in prices about future earnings : implications for earnings response coefficients

Kothari, S. P. - In: Journal of accounting & economics 15 (1992) 2, pp. 143-171

Persistent link: https://www.econbiz.de/10001330745

Stock prices and earnings : a history of research

Dechow, Patricia M.; Sloan, Richard G.; Zha, Jenny - In: Annual review of financial economics 6 (2014), pp. 343-363

Persistent link: https://www.econbiz.de/10010492503