high ability managers incorporate more forward-looking information about cash flows into current earnings through smoothing …, thereby enhancing earnings informativeness. We also find that smoothing associated with high ability managers improves stock …

Career mobility theory suggests that given a certain occupation, schooling improves upward mobility in terms of … promotion and wage growth. We are the first to test the implications of this theory for over- and under-education by means of …. Altogether, these findings strongly support the career mobility theory. Furthermore, by differentiating between internal and …