This paper analyzes electric utility stock price reactions to events preceding the passage of the Energy Policy Act of 1992, a development that precipitated the onset of competition in the wholesale sector of the electric utility industry and accelerated the pace toward statelevel deregulation...

This paper assesses the quality of segment reporting using a measure based on the correlation between the performance of the segment and its industry. The findings show that the quality of segment information particularly earnings is lower than that of stand-alone firms. The difference is...

We investigate the issue of voluntary disclosure in multi-audience settings by focusing on the electric utility industry as it transitions toward deregulation. We consider three target audiences: industry regulators, capital market participants, and product market competitors. As predicted, we...

This paper attempts to document the effects of accounting flexibility on managers' propensity to cut Ramp;D expenditures. Using Barton and Simko's (2002) NOA/Sales variable as a proxy for accounting flexibility, we find that managers are more (less) likely to cut Ramp;D when accounting...