This study examines whether the choice between quarterly and semiannual reporting affects the precision of investors' information and their private information acquisition activities. In the first part of this study, we show that a firm's reporting frequency has no effect on the average...

Past research has extensively addressed the influence of accounting information on stock prices. However, results of this branch of capital market based research have been inconclusive, partly due to methodological deficiencies. Focusing on differential groups of market participants, such as...