We find that the level of environmental GAAP disclosure is associated with profitability, and that this level of environmental GAAP disclosure is relevant to investors, We also find that the effect of profitability on the level of environmental GAAP disclosure, and the effect of the level of...

In this paper I review the literature and discuss the current state of affairs in marketbased accounting research with respect to the Efficient Markets Hypothesis (EMH). Empirical documentation of the post-earnings announcement drift anomaly seems to have formalized a crisis for the efficient...