Financial economics has traditionally posited a limited role for idiosyncratic noneconomic manager-specific influences, but the strategic management literature suggests such individual influences can affect corporate outcomes. We investigate whether individual managers play an economically...

We inform the policy debate on whether management earnings guidance fosters managerial myopia by examining whether firms providing earnings guidance exhibit less firm innovation. At the core of the debate is whether guidance impedes long-term value creation, and evidence on the association...

The market views bad-news management earnings forecasts as more credible than good-news forecasts not because good-news forecasts are biased, but rather because they are noisier than bad-news forecasts. After controlling for noise, the difference in market response disappears. Bad-news forecasts...

The market views bad-news management earnings forecasts as more credible than good-news forecasts not because good-news forecasts are biased, but rather because they are noisier than bad-news forecasts. After controlling for noise, the difference in market response disappears. Bad-news forecasts...

This study examines the impact of green banking disclosure on firms' sustainable growth. The methodology used is panel data analysis with a sample of 45 banks in Indonesia, a total of 578 observations from 2004 to 2021, listed on the Indonesia Stock Exchange. Data are taken from annual reports,...

We investigate the association between risk-taking incentives provided by stock-based compensation arrangements and non-GAAP financial disclosures. Controlling for compensation to stock price sensitivity, we find that managers with higher compensation to stock volatility sensitivity (vega) are...

This paper investigates the market reaction to earnings announcements in public family firms and whether this type of announcements affect firm's return, liquidity and cost of capital, providing also evidence on whether family businesses differ from non-family ones in what concerns the earnings...

This paper examines whether earnings restatements announced by one firm affect the disclosure policy of non-restating peer firms. Prior research suggested that restatements contain news about the future prospects and/or financial reporting quality of the restating firms' peer firms. This news...

We examine the impact of financial restatements on managers' subsequent earnings forecasts. We argue that restatements create conflicting incentives. One incentive is to repair manager reputations as information providers by providing more and better guidance via earnings forecasts. The opposing...

This study investigates how investors' reactions to one firm's earnings preannouncements are affected by the preannouncements of a peer firm. Our experimental results suggest that when two peer firms sequentially preannounce positive earnings news, investors' assessments of the target firm's...