We find that financial statement comparability enhances the ability of current period returns to reflect future earnings, as measured by the future earnings response coefficient (FERC). Thus, comparability improves the informativeness of stock prices and allows investors to better anticipate...

In the 21st century, already witness to unparalleled rates of globalization, discernible economic success can hardly be achieved without developed stock markets. In case of Georgia, the stock exchange remains in nascent stage of development and positions as one of the smallest and most illiquid...

This paper examines two attributes of earnings press releases issued by firms cross-listed on U.S. stock exchanges: the tone and frequency of forward-looking statements. A more conservative tone and a greater proportion of forward-looking statements are often viewed as contributing to more...