Prior literature has studied firm uniqueness and its implications for capital market participants by investigating earnings uniqueness. We recognize that cost and revenue uniqueness provide separate insights about firm uniqueness because different forces drive firm-specific revenues and costs....

A persistent (but overlooked) feature of the cross-sectional distribution of quarterly earnings announcement returns is that the measured earnings surprise and share price response to that surprise are often in the opposite direction. Extending Kinney, Burgstahler and Martin [2002], we provide...

We examine empirically if the manner of risk-taking in which firms engage is associated with aggressive reporting practices. Theoretical and anecdotal evidence suggests that firms face a tradeoff between risk-taking and managerial opportunism as they seek to produce higher returns. In the period...

The primary objective of this study is to conduct a large-sample empirical investigation of how relational capital impacts bullwhip at the supplier. The study uses mandatory disclosures in regulatory filings of US firms to identify a supplier's major customers and constructs empirical proxies of...

Prior research examines financial reporting of revenue in the context of how the incentives to achieve the earnings goal affect revenue reporting. In contrast, this study investigates how firms respond to sector-level incentives related to both revenue and earnings when evaluating the importance...

Regulators have alleged that digital giants (Alphabet, Facebook, Microsoft, Apple, and Amazon) have misused their market power to earn abnormal profits. Research that systematically documents whether technology firms earn abnormal profits is limited, arguably because (i) U.S. GAAP based...

Based on the current U.S. GAAP, internally developed intangibles are not included in reported assets. Omission of an increasingly important class of assets reduces the usefulness and relevance of financial statement analysis, conducted using book value. Recent studies attempt to overcome this...

In this note, we provide a brief description of the internal rate of return (IRR) data, as constructed in Rajgopal, Srivastava, and Zhao (The Accounting Review, 2023). We describe how to access our IRR data for publicly traded companies on a firm-year-specific basis, to be used by academics,...