Managers must often trade off cash flow objectives with concerns about financial reporting when they structure economic activities. I examine whether managers consider voluntary disclosure, combined with the structuring decision, to alter this tradeoff by enhancing the transparency or...

This paper investigates the effect of the introduction of exchange-traded funds (ETFs) on the liquidity of individual stocks. Prior analytical studies suggest that uninformed investors strictly prefer trading ETFs to trading individual stocks in order to avoid trading against informed investors....

This dissertation examined the corporate shareholders' perceptions of employee stock ownership (ESOP) implementation as reflected in the market return behavior of the sample of 128 large publicly-held ESOP firms identified by the National Automated Accounting Research System (NAARS). Each of...

ix, 69 p. A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number.

A primary focus of empirical earnings research is whether accounting earnings contain meaningful and timely information that can be used by market participants to value securities. Empirically, accounting earnings numbers are considered to be reliable representations of economic performance if...

On September 22, 2004, the Office of Federal Housing Enterprise Supervision (OFHEO) made public a report that was highly critical of accounting methods at Fannie Mae, the government-sponsored enterprise that plays a leading role in the secondary mortgage market. OFHEO charged Fannie Mae with not...

A view has developed among some retailing researchers that financial markets have, from time to time, unduly favoured the retail sector in the UK. It is argued that this has been exploited, to some extent, by retailing companies using creative, but legitimate, accounting techniques to enhance...

This paper investigates whether mandatory changes in Generally Accepted Accounting Principles (GAAP) affect investment in physical capital and research and development. Using a sample containing forty–nine changes in GAAP, I find evidence that changes in accounting rules affect investment...

In this study, a model is introduced to explain the relation between the speed of market reaction to accounting earnings information and the precision of an individual's expectations prior to the earnings announcement. The model predicts that the relationship is negative. A method of estimating...