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Comparing Non-GAAP EPS in Earnings Announcements and Proxy Statements
Black, Dirk E. - 2020
-sample evidence consistent with the use of non GAAP EPS metrics in both financial reporting and compensation contracting …
Persistent link: https://www.econbiz.de/10012856894
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Earnings Announcements in China : Overnight-Intraday Disparity
Liu, Junhao; Hope, Ole-Kristian; Hu, Danqi - 2023
Based on a unique arrangement of trading and disclosure times around earnings announcements in the Chinese stock market, we provide evidence of a striking overnight-intraday disparity in terms of the reaction to earnings news. Specifically, we find that the overnight period exhibits a strong and...
Persistent link: https://www.econbiz.de/10014348722
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Consequences of financial reporting quality on corporate performance : evidence at the international level
Martínez-Ferrero, Jennifer - In: Estudios de economía 41 (2014) 1, pp. 49-88
This paper examines the consequences of Financial Reporting Quality (FRQ) on Corporate Performance, using three proxies … estimator proposed by Arellano and Bond (1991), highlights the positive effect of financial reporting quality (FRQ) on financial …
Persistent link: https://www.econbiz.de/10010385817
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Myth : external financial reporting quality has a 1st order effect on firm value
Zimmerman, Jerold L. - 2012
I argue that external financial reporting quality has at best a 2nd order effect on firm value of U.S. publicly traded … companies and that attempts to improve a firm's external reporting quality has a 3rd order effect on these firms' value …. Recognizing that external financial reporting quality is at best a 2nd order effect on firm value imposes an important external …
Persistent link: https://www.econbiz.de/10010250808
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Does Financial Statement Comparability Mitigate Delayed Trading Volume Before Earnings Announcements?
Kim, Junwoo - 2019
This paper examines the role of financial statement comparability in shaping trading volume prior to earnings announcements. We find that the degree of delayed trading volume prior to earnings announcements is less pronounced for firms with more comparable financial statements. In addition, the...
Persistent link: https://www.econbiz.de/10012862927
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The Relative Informativeness of GAAP and Pro Forma Earnings Announcements in France
Aubert, François - 2009
examining why French traded corporations use pro forma reporting in their annual press releases to announce earnings …, suggesting that managers have significant motives to report a higher profit than the GAAP-based one and the one forecasted by …
Persistent link: https://www.econbiz.de/10013159216
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Why Firms Announce Good News Late : Earnings Management and Financial Reporting Timeliness
Kim, Mark; Pierce, Spencer; Yeung, Ira - 2021
Prior studies find that delayed earnings announcements tend to communicate unfavorable news, and investors react negatively when firms delay earnings announcements. However, these findings do not explain why investors discount delayed earnings, even after controlling for the earnings news, and...
Persistent link: https://www.econbiz.de/10013228279
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Corporate Governance, Earnings Quality and Idiosyncratic Crash Risk During the 2007-2008 Financial Crisis
Pereira da Silva, Paulo - 2018
This study focuses on the cross-sectional determinants of idiosyncratic crash risk. In specific, we verify the role of financial disclosure quality and internal corporate governance mechanisms associated with the board of directors, executive compensation and audit committee as buffers of crash...
Persistent link: https://www.econbiz.de/10012918958
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Ownership Concentration, IFRS Adoption and Earnings Quality : Evidence from an Emerging Market
Aksu, Mine H. - 2014
We investigate the impact of corporate governance characteristics, and IFRS on earnings quality in Borsa Istanbul (BIST). Our contribution stems from the fact that we study moderating effects of mandatory IFRS adoption on the relationship between ownership concentration and earnings quality in a...
Persistent link: https://www.econbiz.de/10013060411
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The Spillover of SOX on Earnings Quality in Non-U.S. Jurisdictions
Dutillieux, Wouter - 2016
In most European countries, U.S.-owned subsidiaries are required by law to file separate entity financial statements in local GAAP. We use this unique institutional setting to examine whether the Sarbanes-Oxley Act of 2002 (SOX) had a flow-through effect on the earnings quality of local GAAP...
Persistent link: https://www.econbiz.de/10012989780