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Persistent link: https://www.econbiz.de/10014288685
Standard setters have expressed concern over the impact of complex accounting standards on the information gap between firm insiders and financial statement users. We address this issue by examining the relationship between accounting reporting complexity (ARC) and the market response to...
Persistent link: https://www.econbiz.de/10013219544
The literature on stock price momentum documents that past price performance predicts future price performance (over the next 3-12 months). We argue that past price performance can be driven either by fundamentals or non–fundamental reasons and financial statement analysis (FSA) can help...
Persistent link: https://www.econbiz.de/10012927011
Financial crises are typically marked by substantial increases in ambiguity where prices appear to decouple from fundamentals. Consistent with ambiguity-based asset pricing theories, we find that ambiguity concerns are more severe for firms with higher pre-crisis earnings volatility, causing...
Persistent link: https://www.econbiz.de/10012890190
Persistent link: https://www.econbiz.de/10011646340