We analyze market reaction to targeted stock issuances and investigate possible motives for their use. We find a statistically significant abnormal return of 3.61% within a three-day window around the announcement of proposed targeted stock issuances, possibly attributable to greater information...

We investigate whether managers' discretionary choices when adopting SFAS 106 are consistent with incentives to influence future labor negotiations and improve future reported income. We hypothesize that firms are more likely to opt for the immediate recognition method if i) they have large...

In recent years, many corporations have replaced their traditional defined benefit (DB) pension plans with ldquo;cash balancerdquo; (CB) plans, which share many of the characteristics of defined contribution plans. This study provides empirical evidence on the characteristics of CB converters...

This paper analyzes electric utility stock price reactions to events preceding the passage of the Energy Policy Act of 1992, a development that precipitated the onset of competition in the wholesale sector of the electric utility industry and accelerated the pace toward statelevel deregulation...

This paper assesses the quality of segment reporting using a measure based on the correlation between the performance of the segment and its industry. The findings show that the quality of segment information particularly earnings is lower than that of stand-alone firms. The difference is...