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Income Smoothing, Information Uncertainty, Stock Returns, and Cost of Equity
Chen, Linda H. - 2018
This paper examines the effect of income smoothing on information uncertainty, stock returns, and cost of equity. I show that income smoothing through both total accruals and discretionary accruals tends to reduce firms' information uncertainty, as measured by stock return volatility, analyst...
Persistent link: https://www.econbiz.de/10012938674
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Profitability Anomaly and Aggregate Volatility Risk
Barinov, Alexander - 2020
risk can explain this regularity …
Persistent link: https://www.econbiz.de/10012855868
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Measuring risk information
Smith, Kevin; So, Eric - 2020
We develop a measure of how information events impact investors' perceptions of risk that is broadly applicable and … simultaneously conveys information on the announcer's expected future cash flows and risk profile. We empirically implement the … forecasting power for firms' risk-factor exposures, implied costs of capital, liquidity, and future investments. We also apply our …
Persistent link: https://www.econbiz.de/10012244502
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Information Content of Earnings Announcements Around IFRS Adoption and a Simultaneous Change in Press Release Disclosure in Italy
Kim, Pureum - 2019
This study investigates the effect of a security regulation that occurs concomitantly with International Financial Reporting Standards (IFRS) adoption on the information content of earnings announcements in Italy. To identify the effect of this regulation, we use a treatment (i.e., Italy) and a...
Persistent link: https://www.econbiz.de/10012903286
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The Consequences of Management Earnings Forecast Regulation : Stock Price Informativeness and Disclosure Externalities
Ke, Bin - 2019
We examine the consequences of a management earnings forecast regulation implemented in a staggered manner. The regulation substantially increases the directly affected firms' frequency of management forecasts. Nevertheless, approximately 14% of the directly affected firms fail to comply with...
Persistent link: https://www.econbiz.de/10012893690
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Volatility and Insider Sales before Earnings Announcement
Hu, Yue - 2021
I propose to use volatility to infer opportunistic insider sales. I argue that insider sales occurring when volatility is low are suspicious and that these suspicious sales are likely to be driven by insiders’ private information for the following reasons. Suppose that insider sales are not...
Persistent link: https://www.econbiz.de/10013249279
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Earnings quality measures and stock return volatility in South Africa
Fonou-Dombeu, Nyanine Chuele; Mbonigaba, Josue; … - In: Future Business Journal 8 (2022), pp. 1-15
This paper examined the association between various measures of earnings quality and stock return volatility of Johannesburg Stock Exchange (JSE)-listed companies for 10 years from 2009 to 2018. The measures of earnings quality considered were accrual quality, conservatism, earnings persistence,...
Persistent link: https://www.econbiz.de/10013171726
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Core earnings uncertainty, dividend change announcements and the reduction of covariance component risks
Dempsey, Stephen J.; Harrison, David M.; Sheng, Hainan - In: Journal of business finance & accounting : JBFA 42 (2015) 9/10, pp. 1075-1120
Persistent link: https://www.econbiz.de/10011535857
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Information uncertainty risk and seasonality in international stock markets
Kim, Dongcheol - In: Asia-Pacific journal of financial studies 39 (2010) 2, pp. 229-259
Persistent link: https://www.econbiz.de/10009315268
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Income smoothing, information uncertainty, stock returns, and cost of equity
Chen, Linda H. - In: Review of Pacific Basin financial markets and policies 16 (2013) 3, pp. 1-34
Persistent link: https://www.econbiz.de/10010233291