Behavioral theories predict that investors underreact to earnings announcements stemming from the conservatism bias and overreact to a string of earnings news due to representativeness heuristic. This paper thus examines trading strategies of buying past high EPS growth stocks and selling past...

It has been well recognized that to thoroughly evaluate a firm’s performance, the evaluator must assess not only its past and present records but also future potential. However, to the best of our knowledge, there are no data envelopment analysis (DEA)-type models proposed in the literature...

This paper posits that the release timing of an annual report has no systematic relation with earnings news in Taiwan. Since the board of directors has the ultimate responsibility for the implementation of corporate governance, we argue that board characteristics are important determinants for...

This study examines long-term stock returns following open-market share repurchases of listed firms in Taiwan. The empirical results based on event-time cumulative abnormal returns (CARs) and buy-and-hold abnormal returns (BHARs) show that announcing firms do not experience significant positive...

Purpose –This study aims to examine whether China's unique dual audit policy affects one specific aspect of audit quality: auditor conservatism. In China, listed companies issuing B/H-shares in addition to A-shares must release two financial reports – one based on Chinese accounting...