This study examines the relation between both number and news content of earnings disclosures by firms and aggregate stock market trading activity. Consistent with the Hirshleifer, Lim, and Teoh (2009a) distraction hypothesis, among announcing firms the number of contemporaneous announcers...

This study examined the relation between the volume of earnings disclosures by firms and aggregate stock market trading activity. Although the relation between the trading activity experienced by disclosing firms and announcement volume is negative, consistent with the firm level evidence of...

This study evaluates how accounting researchers analyze and report null outcomes based on a large sample examination of recent accounting research publications. As null outcomes reflect an inability to reject a null they, unlike rejections, do not lend themselves to specifically conclusive...

The use of observed transaction sizes to differentiate between “small” and “large” investor trading patterns is widespread. A significant concern in such studies is spurious effects attributable to misclassification of transactions, particularly those originating from large investors....

The use of observed transaction sizes to differentiate between “small” and “large” investor trading patterns is widespread. A significant concern in such studies is spurious effects attributable to misclassification of transactions, particularly those originating from large investors....

Most quasi-experimental empirical analyses in accounting involve determining a set of sample selection criteria and the then applying these criteria to obtain an exhaustive sample for analysis. By including all available observations, one might reasonably view such analyses as populations. In...

We track the employment histories of over 3,000 chief executive officers (CEOs) and study how their past litigation experiences affect corporate disclosure decisions. We define litigation experience to be any securities class action experienced during a CEO’s early career in other firms and in...

This analysis identifies a distinct immediate announcement period negative relation between earnings announcement surprises and aggregate market returns. Such a relation implies that market participants use earnings information in forming expectations about expected aggregate discount rates and,...

A recent analysis by Kothari, Lewellen and Warner(2006) report negative relations between aggregate earnings surprise and market return in quarterly earnings disclosure and reporting periods and no evidence of a positive relation between aggregate earnings and market return in any...

The use of assumed tax rates to adjust special items (e.g., restructuring charges, asset writedowns, etc.) is common in empirical accounting research, as these items are reported pre-tax and are often used in research designs that include after-tax earnings. This study aims to explore the...