This study examines the role of information on revenues in valuing firms. It examines whether revenue has incremental ability to explain stock returns beyond earnings and whether this ability (1) is pervasive or it is limited to situations in which earnings are less informative, (2) has changed...

This study examines the association between a firm's LIFO reserve and its equity risk. We hypothesize that LIFO reserve has favorable implications for equity risk as it confers tax benefits and represents unbooked profits, which prompt firms to lower their borrowings and effectively increase...

This study examines the association between a firm's LIFO reserve and its equity risk. We hypothesize that LIFO reserve has favorable implications for equity risk as it confers tax benefits and represents unbooked profits, which prompt firms to lower their borrowings and effectively increase...