forma reporting imposed by the Sarbanes-Oxley Act of 2002 (SOX). First, we find that investors appear to pay more attention … disclosures more in the post-SOX period. Finally, our results imply that the regulation of pro forma reporting has increased the … are consistent with the conclusions that (1) the quality of pro forma reporting has improved following SOX, and (2 …

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 …

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 …

evaluate whether the Act's reforms have had a significant impact on the credibility of financial reporting. Consistent with … investors' assessments of reporting credibility for firms admitting to accounting errors …

poor-quality financial reporting is more likely among firms that have weaker profitability and a shareholder base that is … reporting. However, the equity market does not completely ignore the earnings information. Investors’ reliance on earnings is …

reporting emphasis assigned to these metrics. On the other hand, we find no evidence that firms use pro forma earnings to … significantly less likely to use pro forma earnings disclosures and to assign reporting emphasis than mandatory adopters. Taken …

, firms that engage in pro forma reporting are concentrated in high-technology industries, have greater sales growth and …